The construction industry is heavily fragmented and as such represents a complex process of designing, operating with supplies and orders, contracting, planning, engineering, constructing, and building. Multiple teams are cooperating on a single project, which can make the entire process even more complex without proper organization and management. Construction makes 14% of the global GDP and is one of the most profitable sectors in the world. Let’s see what other facts and stats arrive from the sector of construction in 2020.
Construction Industry: Stats and Facts
- Only in 2018, the United States poured over 1.3 trillion US dollars in construction, confirming that the industry is one of the most profitable in the US.
- The use of environmentally-friendly techniques and materials is seeing a significant increase in the sector of construction on the global level.
- Construction workers could benefit from labor shortages in the US – the increase in payments and profitability of working on construction sites should emerge as a consequence due to an increased demand for construction workers.
- According to IDC, expenditure for connected infrastructures for smart cities should surpass 158 billion US dollars.
- When it comes to female employees in the construction industry, only less than 10% of on-site construction workers are women. On the other hand, office work in construction employs over 86% of female workers.
- Improving the performance of construction equipment could significantly reduce greenhouse emissions. Construction accounts for 36% of energy use and nearly 40% of total greenhouse emissions in the world, which is rather unsettling.
- The United States of America reported neatly 150,000 accidents in the sector of construction, involving on-site workers. That is why it is crucial to improve the overall safety of construction sites.
- The US is one of the countries, alongside China, Japan, India, and Indonesia forecasted to invest more capital in construction by the year 2030.
