The global construction market is red hot for some firms and stone cold for others as contractors deal with unpredictable project risks while readying for new growth opportunities.
As the dust from a tumultuous 2020 settles and threatens to kick up again, ENR MidAtlantic’s Top Contractor survey reveals that the firms taking part in this year’s ranking ended up being no worse for wear from a revenue standpoint.
Addressing weaknesses laid bare by COVID-19, infrastructure projects are poised to drive world economies back to pre-pandemic positions with a simple mantra to build back better. As global design firms restructure operations, projects also are being reconfigured to fit a continental shift in client priorities.
Owners frequently call in professional services firms to streamline projects to completion and keep a pulse on the market. Lately, firms agree, that pulse is racing. Projects shelved last year are quickly rebooting while newer, more complex construction programs fill pipelines, driving many owners to seek support beyond their usual teams to manage the volume.
Revenue for construction management-at-risk and design-build delivery reached all-time highs before the pandemic plagued the market. But this year’s company rankings tell a more complicated story about alternative project delivery during a crisis.