Growth Opportunities in the Global Construction Industry
The future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure. The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to increasing urbanization and growing population.
ADP: Construction industry leads March employment surge
“The rebound in employment growth over the past few months is principally due to the goods sector, with the ADP showing gains of 31,000 in construction and 29,000 in manufacturing last month,” Capital Economics Chief Economist Paul Ashworth said, commenting that he predicts jobs will increase by 250,000 in March.
New material made from desert sand could occer low-carbon alternative to concrete
A team of scientists in the UK have developed a biodegradable construction material made from desert sand – a resource that has until now been useless for construction.
Called Finite, the material was developed by a group from Imperial College London. It is as strong as concrete but has half the carbon footprint.
Congress investigating high costs of infrastructure in US, New York City
The Government Accountability Office (GAO) announced that it would soon begin a study as to why infrastructure projects in the U.S., and in particular in New York City, cost so much more than similar projects elsewhere in the world, according to The New York Times.
3 Construction Industry Trends for 2018
After making it through the many hurricanes and other natural disasters in 2017, the construction industry has a promising year ahead. The Associated General ContractorsConstruction Industry Hiring and Business Outlook survey showed that 75% of construction firms plan to expand payroll this year.