This is a great time to check out the trends and opportunities in the construction industry. After a tough year of labor shortages and supply chain stresses, it’s important to see if the trends are shifting or staying the same throughout 2021. Take a look at some of this year’s trends and how they can help you find opportunities in the construction industry.
In 2021, US construction output is set to grow by 1.4% and potentially 2.3% over that if President Biden can pass a second plan regarding infrastructure later this year according to BusinessWire. This plan includes more long-term investments in infrastructure and green energy products. Since the US is putting a lot of effort into vaccinating the population, there is a lot of hope that industries hit hard by the pandemic like hospitality, retail, and offices might come back swinging in the second half of 2021.
For the construction industry, 2021 will likely see a shift in common types of projects. Now that more people are shopping online, there is a much smaller need for retail spaces and a much greater demand for warehouse properties.
When it comes to bidding, bids for new construction sites in 2020 slowed or paused. Data collected from Digital Builder found that bidding activity has now surpassed pre-pandemic levels and reached its all-time high in January 2021. The construction industry should begin to see postponed or paused projects rescheduled throughout 2021.
New policies from President Biden will also affect the rate at which new projects run this year. His plans involve building modern and sustainable infrastructure to help ease the effects of climate change. They also revolve around the repair of the country’s aging infrastructure. This includes roads, highways, and bridges.
When it comes to spending in the construction industry, the latest data shows that total public spending in 2021 is projected to be $384 billion. This is an 8.5% increase in construction spending from 2020, according to Building Design + Construction.
So what does all of this mean for those of us that work in the construction industry? As more and more projects get the green light, companies will be looking for teams to go back to the job site. Since the early days of the pandemic, the industry relied on technology rather than manpower on projects. So new projects will most likely be adopting the use of these technologies. This means they will be looking for skilled employees and to upskill their own workers. With bids for new projects happening every day, now is the best time to start a career path in the construction industry. Whether you are looking to brush up on your skills and get back out on the site, or want to learn more to become skilled in new technologies, At Home Prep has the resources you need. Be sure to check out our online resources on any area of the construction industry that interests you. Now is the time to get out there and build a great career in construction and we’re here to help.