The new year has begun and the construction industry has a lot in store. In addition to setting new goals, we can celebrate the accomplishments of the previous year. Looking into 2020, the construction industry roadmap involves growth in all areas. According to Construction Dive, the 2019 construction industry saw overall market growth regardless of the added pressure and labor shortages. With this in mind, U.S. Bridge looks forward to rebuilding the industry while providing quality and care throughout the process. Here’s a construction outlook of the last decade.
Construction Outlook: Projects on the Way
While there have been labor shortages, the demand for construction has been at an all-time high. Engineering and construction firms are expected to potentially benefit from several significant opportunities in the industry. For example, an upgrade in US transportation and infrastructure as well as the rise of smart city mega-projects. U.S. bridge makes transportation possible by connecting communities through quality bridges. So, the 2020 roadmap for construction will likely involve new bridges.
“As with all other trades, we are hopeful that construction will pick up in 2020,”
Damien T.K. Kim, Business Manager/Financial Secretary
Technology and Innovation
More than ever, technology is being utilized on a day to day basis. In fact, the use of machines has helped to boost innovation among businesses and industries. For this reason, it has also helped to enhance the construction industry. One of the main benefits of technology is its ability to replace manual labor and complete tasks efficiently. Technology strengthens collaboration among workers and makes data accessible to companies as a whole. For example, cloud technology in the construction industry has also become considerably beneficial. All this to say, technology will likely play a great role in the 2020 roadmap for construction.
Economic Forecast
In September 2019, America’s unemployment had reached its lowest observable rate since 1969. This leaves significant room for improvements in the coming years. However, the lack of inflation generated by the U.S. economy has shocked many. Explanations of this include a weakening global economy, the Amazon effect, and worker productivity growth.
Choose U.S. Bridge
At U.S. Bridge we are confident in meeting your needs and believe in bringing progress to the construction industry. Our bridge building process involves a precise process. We recognize and understand that your bridge is a major investment. So, we’re here to help you from the beginning of your project through the end. Get a quote today!
