With the worst of the pandemic-related production issues now largely resolved, the construction equipment market is returning to a more normal state of affairs, despite a rise in prices over recent years.
Despite industry-wide challenges from labor shortages and frustrating supply chain snags, most specialty contractors across the West Coast saw revenue gains in 2022.
Construction firms in the mountain states are plenty busy. A surge of people moving to the region—especially Colorado, Utah and Idaho—has created a “solid funnel of multifamily housing projects,” says Jeff Palmer, executive vice president at Layton Construction.
Construction-in-progress numbers have rebounded among this year's Top Owners, but those numbers don't completely reflect owner confidence in an increasingly volatile market.
The University of South Carolina has embarked on its largest capital project in school history, Campus Village, navigating tight spaces and supply chain issues to stay on track.
“If you build it, they will come” isn’t just a version of a famous film line. For Top 400 contractors navigating markets bogged down by supply shortages and delays, it’s strategy.
Despite recent forecasts by many economists who predict that 2022 will be a robust year for construction, underlying difficulties persist in the form of labor shortages, supply-chain disruptions and the uncertain effects of ongoing inflation.