5 Construction Trends that Will Shape the Industry in 2024

If you work in the construction industry, you know how quickly things have changed during the last decade. New technologies and materials come on the scene so rapidly that it’s tough to keep up, and things aren’t slowing down anytime soon. Here are the construction trends worth paying attention to in 2024 to stay competitive.

Labor Shortages

Typically, industries that offer low pay and minimal benefits see the highest turnover rates, while better-paying industries retain more employees. The construction industry typically pays above-average wages but still sees a high turnover. Why?

For starters, there’s an aging workforce throughout the country, including the construction industry. People are retiring, and a lack of new blood entering the workforce means labor shortages. According to The Hartford,

“In 2024, the construction industry will need to attract an estimated 546,000 additional workers on top of the normal pace of hiring that happened in 2023 to meet the demand for labor.”

And it’s not just labor; it’s professionals like engineers, project managers, and architects that are in dire need.

For a company to thrive, recruitment must be at the top of its to-do list for the new year.

Connected Construction Sites

Technological advances allow construction sites, including people, equipment, vehicles, and devices, to communicate wirelessly, making it easy to monitor progress in real time. Connected construction sites improve efficiency, allow resources and data to be shared among team members to reduce costs, and give an up-to-date view of all job site activity, aiding in planning and coordination.

Robotics

For decades, contractors have used the same machines and techniques, but robotics are quickly moving in to take a more central role in building. There are many robotic options contractors have available, including:

Drones: Drones help generate 3D maps of a worksite to improve accuracy and inspect hard-to-reach areas.
Robot laborers: Robot laborers can solve labor shortages and reduce work-related accidents and injuries.
Industrial robots: Industrial robots can 3D print materials for faster job completion.
Self-driving robots: Self-driving robots linked with artificial intelligence help eliminate human error and work longer hours to complete jobs more quickly.

The mining and agriculture industries have relied on robotic and GPS-guided equipment for years, so it’s only natural that the construction industry adopts this technology.

Better Supply Chain Management

Virtually every industry has been impacted by supply chain issues since 2020; the construction industry is no exception. Getting a handle on the supply chain will be crucial in 2024 to deal with fluctuating costs and complete jobs on time.

Companies must explore purchasing programs to lock in prices before breaking ground. Moreover, it’s more important now than ever to have multiple supply options as a backup in case your primary provider can’t come through.

Green Buildings

We previously wrote about how sustainable and eco-friendly buildings are more attractive to customers and tenants, which will continue in 2024.

Consumers are highly focused on the environment, and many believe that over half the population will move into cities by 2050, so now is the time to focus on sustainable or eco-friendly properties to stay competitive.

professional construction team in Gainesville, FL

Eco-friendly buildings:

Improve energy efficiency
Harness renewable energy
Conserve water
Integrate green spaces like gardens or green roofs
Improve indoor air quality
Integrate smart technologies
Promote sustainable practices from tenants

Contractors should take advantage of government-sponsored incentives for green building projects. For example, the U.S. Green Building Council notes the Inflation Reduction Act (IRA) is the largest investment in fighting climate change the world has ever seen, and the core components of the law stipulate “new tax incentives for energy efficiency and clean energy investments.”

Call NHCS For Your Next Building Project

New Horizon is a licensed, bonded, and insured MBE General Contractor located in Central Florida. We offer a full scope of construction services in Florida and throughout the country. You can see our work in major theme resort attractions in the Orlando area, and we’ve worked extensively in the hospitality, education, entertainment, and retail sectors.