hand, residential construction is expected to continue its growth trajectory, driven by low unemployment rates and strong demand for housing. On the other hand, institutional and commercial construction is expected to experience increased competition and market volatility, while industrial construction is expected to benefit from increased government spending and infrastructure projects. The infrastructure and heavy construction segments are also expected to see growth, but at a slower pace due to supply chain disruptions and labor shortages. The engineering services segment is expected to benefit from the increasing adoption of emerging technologies.
Trends to watch
- Market dynamics: The industry is experiencing different growth trajectories and increased competition across different segments.
- Supply chain: Increased lead times and volatile material costs are putting pressure on margins.
- Future of work: Talent pressures and shifting talent models are leading the industry to rethink workforce strategies.
- Emerging technologies: Developers and contractors are investing in emerging technologies to drive efficiencies.
ESG and sustainability: The industry is evaluating new practices to deliver positive societal impacts.
