As we consider the short and longer-term future of any industry, it’s only human nature to gravitate our thinking toward mind-blowing advancements in technology that have the potential to transform how we work (and play!). The construction industry and its subsets, including concrete construction, are really no different.
Early in 2022, many of us have had our attention taken at times by social media posts or articles showcasing the latest construction drones or robots that install drywall, or tie rebar. Some of us got a quick look at Honda’s rugged Autonomous Work Vehicle (AWV), or new GPR structural scanners at Las Vegas’ World of Concrete in January, or researched the safety benefits or structural value of cross-laminated lumber or fiber-reinforced concrete on our own time.
Trending in the Industry (2022): (Above) Designed for structural concrete inspection and evaluation using Ground-Penetrating Radar (GPR), GSSI’s Structure Scan Mini XT was showcased at the World of Concrete trade show at the Las Vegas Convention Center in January, 2022. (https://www.geophysical.com/products/structurescan-mini-xt)
At BN Products-USA™ we certainly see the future as exciting, bright, and imaginative. We are adding new products of our own in 2022, with advances in our Inverter Generator, Cutting Edge Saw, and Material Mixer product lines… along with exciting new products on the way!
Without yielding optimism to the challenges of an era of worldwide pandemic, we also enter mid-2022 acutely aware (and weary) of problematic material shortages, inflation, and unprecedented delays in logistics. So where are we a year from now, and how does the construction industry optimize short-term business plans, and mitigate foreseeable risk?
Earlier this month, ConstructionMonitor.com published an article on 2022’s top trends, placing several risk-factors at the top of their list:
- Continued Supply Chain Backlogs – We know this is an enormous challenge in our industry, and real solutions are not simple. “Cultivating backup suppliers” is a smart strategy, where possible. In doing so, it’s also important to “create reserves,” without adding further threat to the industry by “hoarding.”
- Cybercrime – Surprisingly, construction-related companies are common targets, with costly consequences. In 2021 alone, Construction Monitor reports that three-fourths of construction-related companies suffered a cyber incident. Data protection, website security, and payment processing systems should each be assessed for leading system integrity and protection standards.
As our company navigates these risk factors, without squelching our ambition to continue to invest in and imagine the future, we remain optimistic about the business outlook for our customers. That optimism extends to both our Distributor network and end-users of BN Products’ tools and equipment, the pro contractor.
Factors Influencing Construction & Cement Growth: The Good, The Bad, and The Better, published in January by ForConstructionPros.com, highlights a fundamentally strong economy as confidence for continued growth in construction. This article shares the view that long-term opportunity became much brighter in late 2021, with the arrival of the Infrastructure Investment and Jobs Act (IIJA), predicting sustained growth in concrete consumption into 2023, at a rate close to 2%. The reason for this optimism is that the public sector will continue to ramp-up this year while housing is still strong. While cautioning that residential markets could be pressed by rising interest rates this year, the public sector will receive a critical boost from the IIJA.
What this means for our industry is that this is no time to pause innovation and planning for suppliers and partner networks that provide foundational support for the professional contractor. BN Products-USA™ is excited to continue growing as an end-to-end supplier of concrete & reinforcement construction tools for the working contractor. Here’s how to stay informed:
Visit www.BNProducts.com regularly, or sign up for our mailing list to learn about opportunities to grow your business as a Distributor of BN Products-USA™ concrete tools and supplies, or, how our products can help boost the bottom line of your construction business!
Sources:
https://www.asme.org/topics-resources/content/11-construction-industry-trends-for-2022
https://www.constructionbusinessowner.com/WOC22top5faves
https://www.method.me/blog/how-to-get-ahead-of-construction-industry-trends/
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