The publication focuses primarily on the U.S. domestic construction market, which is also a lagging reflection of the country’s economic health. The broad picture is not dramatically different from last year, the report concludes.
- The move to a greater use of P3 (public-private partnerships) project funding will be slow, but will begin to gain traction in the United States.
- Demographics continue to drive demand for health care, education and improving infrastructure.
- Spending for government construction is expected to decline as budget battles continue to rage in Washington and spill over to every state in the nation.
- Sustainable or green construction will drive demand for LEED-certified buildings.
- Innovation is driving efficiencies in multi-trade prefabrication and modularization construction.
- As the baby boomers age out of the work force, many firms will face succession and transition challenges.
FMI publishes the U.S. Markets Construction Overview annually. The Overview includes a comprehensive report on vital construction trends and forecasts the growth or decline in each market segment, noting both short-term and long-term considerations.
To purchase a copy of the 2012 U.S. Markets Construction Overview, visit www.fminet.com/resources .