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With the sudden outburst of COVID-19 last year, many individuals were concerned about how it would affect the economy. Despite the negative effects of the pandemic, studies indicate a steady rise in the global bridge construction market.

Here’s a quick breakdown of the bridge construction market and what factors affect its growth.

The Construction Market

The construction market consists of sales made in the construction industry such as construction services and goods by organizations, sole traders, and partnerships that construct buildings or engineering projects (e.g., highways and utility systems). While the market primarily consists of the construction of buildings or other projects, it also includes the process and materials necessary for preparing new construction sites.

These materials are obtained from both domestic and international suppliers such as manufacturers and wholesale trade operators. The service and goods provided by this market include construction, civil engineering, specialty trade contracting, and other residential, non-residential, and engineering modes.

What Affects the Market?

A large market such as the construction market has several variables that come together to influence the industry. However, there are always key factors that contribute more than others.

The availability of raw materials, the technology for extracting and processing raw materials, government policies, and increased sustainability focus all greatly affect the construction market. A great example of this is demonstrated through the pandemic as many companies struggled to procure their materials from their usual international suppliers. COVID-19 created a significant impact on the industry that will greatly affect but not hamper the market moving forward.

Technology is an important factor that is pushing change in nearly every industry. Its influence over the construction industry is illustrated with more drone usage and 3D printing than ever before. Not to mention, new innovative methods of bridge construction such as modular and prefabricated designs.

The Projected Global Boom of the Bridge Construction Market

In 2019, the global bridge construction market was valued at $908.0 billion and projected to reach $1,212.6 billion by 2027. Thus registering a CAGR of 4.6% from 2020 to 2027.  The strong growth of this market is attributed to an increase in investments, government initiatives, and global economic growth.

The global urban population is expected to rise by 2050. Thus, fueling the demand for bridge construction and other transport infrastructure. Furthermore, the surge in the standard of living, particularly in developing countries is anticipated to drive market growth.

In addition, technological advancements are expected to encourage the growth of the market. These improvements in equipment and systems are intended to reduce the time and cost involved in bridge construction. This economic and urbanization boom is expected to fuel the expansion of the railway networks throughout the globe. Thus boosting the growth of the bridge construction market.

U.S. Bridge

Here at U.S. Bridge, we pride ourselves as leaders in the bridge construction industry. We’ve been engineering and manufacturing bridges for decades with services worldwide.

We understand that a bridge project is a major investment. That’s why we designed an effortless process for you to build a bridge that will last generations. Please contact us for a free quote or use our exclusive bridge design tool Bridge Scope for a quick five-minute scope. Together, we’ll build a better future for America’s infrastructure.

Cloud Technology Serves To Transform Construction

In addition to the general workforce, cloud technology has served its purposes in various industries. In fact, the construction industry has benefited greatly from cloud-based tools. It serves as a communication source between workers on and off the worksite. Apart from the physical labor that occurs on-site, most of the data and storage processes are completed remotely via servers and technology resources. Cloud technology has the ability to enforce changes in the industry while enhancing construction processes for everyone involved.

Cloud Technology

Specifically, cloud technology enables cloud-based computing over the internet. Using servers, storage, databases, software, networks, analytics, and intelligence, the cloud offers various services. As a result, it improves the rate of innovation and provides flexible resources for construction companies. In order to lower operating costs, cloud technology allows users to take advantage of needed services only. Overall, it improves the efficiency of infrastructure and scales as each business changes.

Cost Management

Foremost, cloud technology offers companies the ability to save on cost and operating fees that may otherwise be expensive. Purchasing the necessary hardware or equipment needed to complete projects presents high costs alone. Technology is an efficient solution to combat these great fees. Rather than investing in equipment that demands manual labor, contractors and workers can take advantage of the automated abilities that come with cloud technology. When projects present time-consuming tasks, workers can rely on tech to get the job done quicker.

Collaboration

Significantly, utilizing cloud technology in the construction industry enhances collaboration and connectivity among companies. Workers can keep track of their progress remotely through the efficiency of stored data through the cloud. In other words, everyone in the company, whether on or off the worksite can have access to critical project information including:

  • Models
  • Updates
  • Revisions
  • Regulations
  • Data and Analytics

Flexibility

The ability to have unlimited access to important information about a company allows workers to have flexibility in their labor. Especially for contractors, a problem that occurs within the industry is a lack of properly managing projects from different locations simultaneously. Using cell-phones or other portable devices, workers are able to track their labor anytime and anywhere.

Security

Cloud technology offers security within networks. Companies can be sure that the cloud will protect and keep their project information among workers. Most importantly, Storing data in the cloud increases security by eliminating physical theft, loss, or destruction of your data. Only users with authorization will have access to data on the cloud relating to a construction project. Overall, it offers top tier security which makes companies more confident in their project management. When it comes to construction design, updates will arise that workers will need to handle carefully.

Cloud Technology Enhances Projects

U.S. Bridge makes change possible by connecting communities with long-lasting bridges. Our high-quality steel enhances the durability and longevity of each bridge. Additionally, they are designed and constructed with care and assurance to satisfy all customers. Get a quote today!

The Future Of Construction Technology And Millennials In The Industry

Views on the construction industry are beginning to change as technology becomes more and more prevalent. This is true in many areas of the workforce. For a long time, the construction industry has been considered the last to embrace technology. However, the rise of tech in the industry is inevitable. Not to mention, upcoming job positions are being filled by millennials, who have grown up in a technology driven world. This not only transforms the future of construction but demands that the industry also evolve to embrace innovation. In another article, U.S. Bridge mentions the need for technology to make up for labor shortages. How can companies face this challenge to advance the future of construction?

Millennials in Construction, Embracing Innovation

As the construction industry continues to evolve, it will have to adjust to changes in innovation. So, this most likely means that technology will play a huge role in the coming years. With millennials taking over, it is especially crucial. In fact, according to Paul Gomori, Application Engineering Manager at JCA Electronics, “older generations look to millennials for how to incorporate tech into the job site.” This often leads to a problem of closing the gap between the construction professionals with years of experience and the younger technology-savvy generations. How can companies form a balance among the gap? Younger generations are used to the constant changes that occur in the workforce. In other words, they are open to experimenting between solutions and incorporating technology to help get there. Some of the emerging technology that will shape future construction include:

  • Drones
  • Artificial Intelligence
  • Augmented Reality/Virtual Reality
  • Smartphone Apps
  • Tablets
  • Wearables

The Future of Construction

There are many advantages that arise from incorporating technology in construction. For example, the efficiency and productivity of design or building processes.

“The right construction technology can centralize information and communication, improve safety, and reduce the amount of time spent on non-value-added tasks.”

Chad Hollingsworth, Cofounder & President, Triax Technologies

As millennials take over, there will be drastic changes in construction projects. For example, one significant shift will be the duration of processes. Manual work can be time-consuming and may cause delays among steps. Not only will technology prevent these circumstances, but with the help of millennials in the construction industry, the use of tech will become widespread.

U.S. Bridge is Evolving

U.S. Bridge is making a difference in infrastructure. In fact, our skilled professionals are hard at work incorporating the latest advancements in construction. Our steel bridges are designed and constructed with a proven and reliable fabricating and quality assurance process. Get a Quote today.