Headed into 2023, increased hiring of women, new construction materials, green building, modular and prefabricated building and all things tech are making it to the top of the to do list—especially for builders intent on succeeding against labor shortages, material shortages and supply chain challenges.
Here Comes The Future
Sometimes tactics labeled as trends are really just fads or clever ways to talk about the same old thing. But when it comes to forecasting trends in construction, the overarching sense seems to be, yes, new approaches are taking root. Perhaps driven in part by painful labor shortages, the need for easy access to useful data, mounting signs of evironmental damage and increased pressure to bring projects in on time and on budget, contractors are ushering in new ways of work, new materials for building—and new workers too. Here are five trends Revolutionized predicts will be increasingly felt throughout the construction sector.
- Women At Work
While there is no speedy answer to the labor shortage, efforts to attract women into construction over the past decade are getting results: there’s been an increase of over 50% more women in construction jobs over the past ten years. With many contractors offering ever better pay and benefits, the upward tick of women on the job is expected to continue.
- New Materials
Disruptions and price increases impacting the availability of traditional building materials, as well as the demand for sustainability, is resulting in shifts to new possibilities. Different materials are coming into play from many sources: the recycling of construction and demolition waste is being used to make engineered wood or aggregate; harvesting bamboo turns out to be much faster and more sustainable then timber; and the list goes on.
- Modular and Prefabricated Building
As Revolutionized reminds us: “Modular construction happens when most of the structure gets built offsite before being transferred to the final destination. Prefabrication is similar and involves making or assembling certain components elsewhere and attaching them to the building later. Together, these options target much of the waste and transportation-related emissions typically associated with construction. They also often allow the building process to proceed more efficiently, with fewer errors or budgetary overruns.”
- Green Building
Though there is no one way to reach the goal of a “net-zero emissions status” by 2050, builders are trying many ways to make it happen—from increased use of solar panels on buildings, to better recycling and more: “Some options are unconventional but exciting. For example, research is underway to use the mycelium fungus to make natural bricks. It will take time for such possibilities to become mainstream. However, they give hope for the future.”
- All Things Tech
From the use of drones to monitor for safety risks or take measurements, to the possibilities of 3D Printing, robots and the Internet of Things (IoT), to the use of better and better software by more and more workers across the life of building projects, industry experts are excited about how the continued use of new technology will make more possible. Indeed, a whole new era of contech is in the forecast.
Ring In The New!
Ready for something new? Qualify for The Partnership Account® from Colonial Surety. Then, in addition to a surety line of credit—in writing, you’ll have:
- Control of bidding and bonding, online and in real time.
- Powers of attorney to seal and issue their own bid bonds—in minutes.
- Fast, direct, confidential bid bonds—no middleman.
- Direct access to performance and payment bonds on a customized dashboard.
- Real time tracking of bids and work on hand.
- Immediate access to Colonial’s lead underwriter as new opportunities emerge.
- A private Owner’s Dashboard to view surety lines, adjust work and analyze bids.
Learn more and pre-qualify for a Partnership Account® now!
These days, every financial insight you glean, gives you an important edge—and that’s what Colonial Surety does via The Partnership Account for Contractors®. With this free service, we will help you plot the growth of your business, strategically, one step at a time. The Partnership Account® arms you with a private digital dashboard, providing you with a day to day snapshot of your single and aggregate limits, as well as your current and available bond capacity. As your work in progress decreases, you can even update your work on hand—increasing your aggregate so you can go ahead and move that next bid ahead. Take control of your finances—and get an edge issuing your own bid bonds, instantly, using our powers of attorney.
Get started today: Pre-Qualify and Get Free Scores Here.
Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.