The worldwide construction sector was valued at approximately $10.7 trillion in 2020 and is forecasted to expand by 42% by the year 2030. In the upcoming years, construction will have a crucial part in resolving various global challenges, such as managing the rapid growth of urban communities and decreasing carbon emissions. As a result of these challenges, the construction industry has both the drive and financial support to develop new ideas and take the lead in emerging trends.
Discover some of these innovations and trends below:
Trend 1: Investment in green building
Governments worldwide are pressuring industries to reduce their CO2 emissions as part of a global effort to combat global warming. This is exemplified by the Paris Agreement, which has been signed by 196 countries committing to ambitious targets for reducing CO2 emissions.
The construction industry is under particular scrutiny in this regard because traditional building methods and materials emit significant amounts of CO2 into the atmosphere.
Sustainable and eco-friendly buildings will remain a crucial trend in the construction industry until 2023. Construction firms will need to pursue innovative solutions that address a wide range of environmental challenges, including flood prevention and carbon reduction, in order to adopt a sustainable approach.
Trend 2: A more diverse workforce
To effectively tackle some of the most urgent global issues, construction companies must recruit a diverse workforce with a broad range of skills and backgrounds. This will allow them to fully comprehend the implications and scale of the problems they are addressing.
While some progress has been made in improving workforce diversity, there is still much work to be done. As a result, we will continue to see a trend of increased representation for underrepresented groups within the construction industry. According to the Chartered Institute of Building, only 15% of the industry's workforce is comprised of women, 6% is composed of BAME individuals, and 6% is made up of disabled workers.
Trend 3: 5D BIM
The use of Building Information Modelling (BIM) is widely embraced in the construction industry as a means to enhance efficiency, cultivate a positive workplace culture, and facilitate collaboration. The latest version of BIM, known as 5D BIM, offers several benefits such as shorter project cycles, improved project scope comprehension, and significantly increased productivity.
5D BIM can be broken down into three stages, beginning with 3D modelling to enable visualisation and walkthroughs, as well as clash detection and item scheduling. The second stage, 4D BIM, adds the ability to link each 3D part to project delivery times, which helps identify potential bottlenecks and enable effective remediation. Finally, 5D BIM (3D + time + cost) includes cost estimating, such as generating Bills of Quantities, calculating labour costs, and productivity rates.
Tend 4: Lean Construction
The construction industry is currently facing shortages in materials and labor due to various global factors, which are expected to continue or worsen in the future. To cope with this challenge, construction companies will need to adopt a lean approach, which involves improving the design and construction processes and investing in research to find more efficient methods. While there are lessons to be learned from lean manufacturing processes, industry-specific knowledge will be required to apply these practices to project-based construction.
The construction industry is poised for significant growth in the coming years, and the trends we have discussed are key factors that will drive this expansion. By adopting digital technologies, embracing sustainability and green building practices, prioritizing diversity and inclusivity, and leveraging lean construction techniques, construction companies can overcome the challenges they face and lead the industry into a brighter future. As we move further into 2023 and beyond, it will be exciting to see how these trends continue to evolve and shape the construction landscape.
📌Interested to know more innovations and trends that will shape the construction industry this year? Learn from like-minded professionals and grow your peer network -- all while having great food and entertainment. Check out RADIUS - a fun-filled event to help Engineers in the construction section succeed in their well-being, life, and self-development.
Know more and get your tickets here.