When it comes to the business of the construction industry, these were the trends, mergers and acquisitions and business news you were reading most in 2022.
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20. Status of the Construction Industry and How to Still Make a Profit in 2022
There is so much for contractors to contemplate when planning for 2022, says Running the Business columnist Garry Bartecki, including inflation, deflation, interest rates, job costs, labor, financing and supply chain issues. Just covering the spread between bids and costs will require doing more with less through efficiency gains and cost cuts.
AEM
19. AEM: 10 Trends Changing the Way Construction Companies Operate
The Association of Equipment Manufacturers (AEM) has released a whitepaper noting the ways in which construction companies are changing how they operate to meet ongoing trends and challenges.
LGMG
18. LGMG NA Moves Headquarters to Dallas
LGMG North America will move its corporate headquarters to Dallas following disappointing tariff changes.
ACBM staff
17. 72% of Civil Contractors Foresee Difficulty in Finding Skilled Workers in 2022
The latest issue of the Civil Quarterly from Dodge Construction Network shows civil contractors are more optimistic about the construction economy in 2022. Yet, it also reveals an increasing concern about the availability of skilled workers, particularly as workloads increase in the wake of the Infrastructure Investment and Jobs Act.
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16. 5 Ways to Avoid Construction Disputes with Subcontractors
Without proper communication and dispute resolution, such problems can lead to the failure of the construction project. Here's how to prevent that from happening.
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15. 6 Construction Payment Problems and How to Avoid Them
Even companies that are profitable on paper can be crippled if they can’t collect payments promptly.
S&P Global
14. Construction: What if There's a Recession?
S&P Global has released its latest economic outlook for the construction industry.
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13. Impact of Labor and Materials Shortages on Construction Quality
When material supplies are limited, quality is often substituted for lower quality resources.
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12. Contingency Plans to Soften the Impact of Most-Common Construction Risks
How advanced planning helps eliminate project risks, and developing contingency plans can keep projects on time and budget.
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11. Details of Biden's Talent Pipeline Challenge & How it Will Impact Construction
The construction industry’s skilled labor shortage sits at 650,000 workers. While the training and hiring initiative aims to attract workers to the industry, experts feel it misses the mark and features exclusionary policies that could make things worse.
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10. Stagflation Means the Construction Industry Has Yet More Pain to Work Through
Political and public-health stressors could very well turn today's economic environment to stagflation, where the economy slows but prices keep rising. Contractors should watch carefully for these changes in your balance sheet to ensure sufficient cash flow.
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9. Rebuilding America: The Challenges Subcontractors Face Within The Infrastructure Plan
Chris Doyle, co-founder and CEO of Billd, explores the issues that the Infrastructure Plan will likely bring along with it for subcontractors such as how to pay the rising costs of materials for one and how to recruit and keep skilled workers.
Dodge Construction Network
8. No Guarantee of a Recession: Dodge Data Presents 2023 Construction Outlook
Dodge Data & Analytics Chief Economist Richard Branch delivered the company’s 2023 construction industry outlook, saying there is no guarantee of a recession. Avoiding one, however, will require taking a "narrow road."
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7. 2022 Trends in Skilled Trades
Regardless of what's on the 2022 horizon, one thing is for sure: things will evolve and change and the ever-resilient construction industry will continue to pave the way to the future.
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6. 5 Ways the Construction Industry is Changing in 2022 Due to COVID-19
While almost every industry has been affected by COVID-19, the challenges experienced by contractors have been especially daunting.
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5. Building Material Prices Fall
The National Association of Home Builders is reporting a decline in construction building material prices.
ACBM staff
4. There's Never Been a Better Time to Celebrate Women in Construction
With an extreme lack of skilled workers in the construction industry, there's never been a more important time to build a diverse and inclusive workforce. Here are some tips to attract women to the industry, beyond one week a year.
3. Top 10 Trends To Impact Construction Industry in Next Decade
AI and connectivity, along with renewable energy and alternative fuels, will dramatically impact the construction jobsite in the next 10 years, according to a recent whitepaper published by the Association of Equipment Manufacturers.
2. Labor Shortage Could Be 2022’s Biggest Barrier to Construction Growth
LaborIQ by ThinkWhy forecasts 3.9% expansion in job gains for Construction and Extraction occupations in 2022. But the tight labor market could prove the biggest challenge in the New Year as construction businesses compete with other industries to find and retain talent, driving wage growth further upward.
ACBM staff
1. Construction Materials Prices Rose in Q4 2021 but Declines Expected in Q1 2022
Much of the inflationary pressure on materials prices in 2021 stemmed from shortages due to pandemic-related supply chain issues, increased global demand, labor disruptions and extreme weather. While the US construction sector still faces many of these challenges, a global construction consultancy firm foresees pricing adjustments in 2022.
