This month at Drilltec Diamond Drilling we will be discussing five problems that the construction industry might encounter in 2017. However, it is important to note that after facing difficult times, statistics suggests that the global population will soar to 9 billion come 2050. Great news for construction, as they will gain a high wealth of demand to build vast settlements and much more.
The question is, can construction companies deal with the demands of 2017? It may be another year of hard work for all workers, but those that take on the complications that this year throws up will benefit in future, and those that don’t will unfortunately be left behind – statistically speaking.
5 construction industry trends:
-
Productivity and performance
The UK’s biggest suppliers of construction materials come from Germany, China, Italy and Sweden; all members of the EU. Not only does this mean that it is harder for the UK post-brexit in order to obtain materials, workers waste time waiting around for the goods needed for the job. Due to rise in costs, construction must also follow suit to make their services remotely profitable, and this can decrease the demand for construction. This knock-on-effect makes building, productivity, performance and perhaps business come to a halt.
-
Profitability
The construction industry is currently saturated, creating ample competition, and with this comes low profit margins when fighting for business. Whilst struggling to make adequate profits, construction must also be fully equipped with expensive, state-of-the-art technology to ensure that they can do the job to the utmost perfection, and this all comes from reinvesting back into the company. Companies must find the balance between gaining enough profit to pay for working hours and top of the range tools, whilst pricing their services competitively.
-
Labour shortages
Due to the labour shortages, new generations are joining the profession and this creates conflicting ideals, ethics and skills. It can be difficult for those with expansive knowledge and numerous years working within the profession, to take on board the opinions from those with little experience – that are just starting out.
-
Sustainability
The construction industry is the leading profession that must obtain natural materials in order to operate. It has always been a pressing concern with modern construction that their work requires excessive amounts of natural resources, that are being used far too quickly. Unfortunately, this negatively impacts the environment, but to reduce carbon dioxide emissions, extensive planning must be undertaken for their to be a future for the construction industry. Without the use of copious amounts of raw materials, a new flawless and safe approach must be found and will take years for a solution to be applied. However, with all the other struggles of 2017 it’s just another obstacle for the industry to address.
-
Complexity
Due to the complexity of modern technology and design, more and more customers are looking for innovative designs for their buildings. Firms with a limited workforce must consider which projects they are able to complete and whether their profit margins are worth it.
As you can see, modern demands are pushing the construction industry to their limits, however, if companies can find a way to compromise and get the best for their customers and company, they will see significant growth in the upcoming years.
Here with Drilltec Diamond Drilling, we pride ourselves in our tight-knit team of professionals. We offer nationwide drilling and cutting services, the latest high-tech equipment, higher standards of work and discreet and small cutting solutions. We cover a wide scope of areas including: Birmingham, Cambridge, Coventry, Leicester, London, Milton Keynes, Northampton, Oxford, and Slough. If you would like to discuss more about our services, please give us a call today!