We are approaching the end of the year, and companies are preparing for 2014 business decisions. ForConstructionPros.com has researched exciting and encouraging trend forecasts for the upcoming year in the commercial and residential construction industry.
Several industry associations and consulting firms are indicating 2014 will be a good year for construction industry growth. Below we have listed a few of the most recently announced trends.
The Portland Cement Association’s chief economist Ed Sullivan reports that all fundamentals are predicted to show 9.7% increases in consumption.
Commercial and Residential Projects
The construction management consulting firm FMI believes construction-put-in-place (CPIP) will show a growth of 7% in both commercial and residential fields next year.
In the green building and sustainability construction sectors, U.S. Green Building Council (USGBC) indicates half of all institutional and commercial construction will be green-certified by 2016.
Top Truck Ratings
In recent trucking Consumer Reports tests, the 2014 Chevy Silverado 1500 was rated the top half-ton truck. Some truck testers believed the 2013 Dodge Ram 1500 performed better. However, after further comparisons, the Silverado proved more capable, while the Ram did achieve top ride and comfort ratings.
Equipment Rental Market
CEO of CAT-Caterpillar Rentals Doug Oberhelman states that companies are not yet ready to make the hefty investments in large machinery, therefore, the equipment rental market has continued to grow as a result. In 2013, equipment rentals amounted to $32 billion and are positioned to reach $36 billion in 2014.
For more information and to watch the construction industry report, visit ForConstructionPros.com by clicking any of the photos.