Two of the main construction services sectors within our industry are non-residential and residential. Within the non-residential sector are three subsectors:
- Heavy industrial and infrastructure
- Institutional and commercial
Heavy Industrial Construction Services: Building ‘Something Amazing’
Working in heavy construction services, “You’ll help to build huge industrial facilities like power plants, refineries, nuclear plants, mines and oil sands installations…” says Careers in Construction. Some of the biggest trucks in the world are on heavy construction job sites. One piece of construction equipment can cost millions of dollars.
Trends: Modularization and Real-Time Data
Construction and input costs for key building materials
(such as steel) are rising, largely driven by limited
supplies and tariff uncertainties. –Deloitte.com
The heavy construction industry has historically low profit margins. The 2020 global pandemic and resulting economic fallout put an even greater strain on U.S. heavy construction profitability. Between that and a shortage of trained employees, heavy construction services industry stakeholders need to better-manage the areas that impact profit margins and end-game profitability.
Module assembly yards providing fabrication and building elements pre-assembly can rapidly transfer construction components to job sites. Modularization can save on onsite labor costs, improve quality control, and shorten project timelines. The end result is the possibility of better safety (avoiding reworks) and costs savings.
Digital technology and real-time information will make the profit difference. Eliminating manual data entry and utilizing identifying trends can save money and time.
“Having state-of-the-art…tools and technologies is becoming a competitive advantage,” says Deloitte. Rather than seek damage control solutions to cost overruns and construction delays, real-time insights can lead to better-informed decision-making.
Real-Time Data for Real-Time Insights
Building permit data is fundamental to understanding construction services trends in your market. We provide customized, weekly reports that can provide insights on where in your world opportunities for business growth exist.
We have an active support team available to answer your questions. Call 800-925-6085, email, or contact Construction Monitor today. Let’s discuss construction data options that will benefit your construction industry business development in the U.S.