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Construction Industry: 2012 Year in Review

The Best of 2012 in the Construction Industry

By

The Construction Industry suffer one of the toughest year this 2012. The 2012 brought significant changes, merges, turnarounds, natural disasters, financing problems and record-setting structures that will be remembered throughout the years. Some of the major issues on 2012 were:

1. Fiscal Cliff

The fear of the fiscal cliff could be a major problem in the construction industry. Many federal agencies could reduce their budgets and slash some really important projects, even projects aimed to increase safety to general public.

2. Gas Prices

High gas prices still are one of the most dominant factors in the construction industry, but are paving the way to alternate sources of energy steering away from gas or fueled generated power. Although some tax grants expired, renewable energy stakeholders are still pushing forward amazing projects based on renewable sources.

3. London Olympics

The greenest games celebrated in history showcased great buildings and structures that will now serve future generations and the impact on greenhouse emissions were significantly reduced. The amazing venues of the London 2012 Olympics were built rapidly and putting hundreds of million dollars into the hands and London finances.

4. Hurricane Sandy

Hurricane Sandy battered the North East coast, with powerful winds and torrential rains. Experts are once again considering ideas such as sea barriers, modifying building codes among other strategies that could reduce the number of fatalities and damages produced by these mega storms Billions of dollars are need to rebuild the Eastern coast from this powerful hurricane, but at the same time, this storm has brought to the attention of planners and engineers the urgency to upgrade the American infrastructure, especially the electrical grid, who suffered astronomical damages in their distribution and transmission lines.

5. Brazil World Cup Venues

Investing more than 12 billion euros in preparation for the 2014 World Cup, Brazil has faced serious challenges that could lead to construction delays. But not only weather delays have affected the construction progress of all World Cup Venues, even labor problems and government actions are producing additional delays in these projects. These venues are considered to be some of the most complex stadium construction in the western hemisphere, but FIFA is not that sure that these state-of-the-art venues will be ready by then.

6. China Construction Industry

China is now considered the largest construction market in the world and they have entered a new era of sustainable buildings that will produce some stunning structures. The Chinese government will invest billions of dollars in public infrastructure projects until 2015, while the construction sector has shifted from coastal cities to interior suburbs were all major construction projects will take place.

7. Global Merges

Construction firms have moved towards a more complex business method, doing business in non-traditional countries. Many companies have now entered into agreements with overseas companies to stay competitive in today’s challenging industry. Many of the top US Contractors are joint ventures from European or Asian companies with North American companies that have been created to administer large projects providing financing stability to these markets. The worldwide trend is to merge with specialized companies serving specific purposes but with the knowledge and financial strength, turning these joint ventures into winners.

8. Technology

Online bidding systems, cloud collaboration services, SaaS, online services are producing streamline process allowing for price reduction and general savings that could be the difference between winning or losing over a bid proposal. Owners have now turned into the digital era, with digital copies of drawings and even permitting offices and state agencies are now requesting digital drawings instead of blueprints and photos.

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