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Digital Technologies and Prefabrication Present Key Opportunities In Specialty Construction

LONDON, GREATER LONDON, UK, July 19, 2018 / -- Using methods that increase productivity has given a boost to the specialty construction market, raising its growth from 4.3% to 7.6% year on year, The Global Construction Market Strategies And Opportunities To 2021, a new report from The Business Research Company has shown. This is because for most contractors’ yearly revenue is not determined by how many jobs they can sell but how many they can build. These new methods include digital technology and prefabrication.
Specialty construction contractors are increasingly using digital technologies such as smart phones, RFID (radio frequency identification) tagging and software to improve labor productivity, safety and cost control. Mobile phones help workers to share information on jobsites and file reports about the building progress. RFID tagging is used for materials handling and to track field personnel. SmartPM developed by Construx Solutions, is a construction project and data management software designed to give specialty construction contractors insights into scheduling logic, forecast end-date risks, and delay causation. MaxCon Software is specifically designed for roofing contractors, claiming to increase output while reducing, overhead, staff and other costs. Mobile apps such as Red-Trac, Labor Sync and Timesheet Mobile provide construction-specific services to contractors.

Prefabrication enhances quality control, improves consistency, reduces risks and helps in mitigating safety hazards. Bathroom pods, headwalls, pipe racks and assemblies, raceways and conduit banks and junction boxes are some of the prefabricated components being used by electrical and plumbing contractors. According to the 2012 Productivity Survey by FMI, a US-based management consulting firm, about 69% of construction contractors used prefabrication in their projects. Integrated Electrical Services (IES) Inc., one of the largest electrical contractors in the U.S., is developing and using prefabricated electrical systems in its construction projects.

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Building equipment contractors are the largest segment of the specialty construction trade industry. They include electrical contractors and other wiring installation contractors, plumbing, heating and air-conditioning contractors and other building equipment contractors. Contractors installing specialized building equipment such as elevators, service station equipment and central vacuum cleaning systems are also included in this industry. Building finishing contractors, the second largest segment, include drywall and insulation contractors, painting and wall covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors and other building finishing contractors. Foundation, structure and building exterior contractors include poured concrete foundation and structure contractors, structural steel and precast concrete contractors, framing contractors, masonry contractors, glass and glazing contractors, roofing contractors, siding contractors and other foundation, structure and building exterior contractors. The smallest segment, other specialty construction contractors covers trades such as site preparation, billboard erection, outdoor swimming pool construction, driveway paving, fence installation, interlocking brick and block installation and steeplejack work.

Specialty trades construction itself is the second smallest segment of the construction market, behind building construction and heavy and civil engineering construction, but ahead of land planning and development.

Where To Learn More
Read the Global Construction Market Strategies And Opportunities To 2021 from The Business Research Company for information on the following:

Markets Covered: Global construction market, building construction, heavy and civil engineering construction, specialty construction contractors, land planning and development.
Construction Market Companies Covered: China State Construction Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., Vinci SA, and Power Construction Corp. Of China, Bechtel Corporation*, Grupo ACS, Bouygues SA, Skanska Group.
Regions: North America, Asia Pacific, Western Europe, South America, Eastern Europe, Middle East, Africa.
Countries: USA, China, UK, Japan, France, Germany, Australia, India, Spain, Russia, Italy, Brazil
Time Series: Five years historic (2013-17) and forecast (2017-21).
Data Segmentations: Construction Market historic and forecast size and growth rates for the world, 7 regions and 12 countries, construction market segmentation by type of construction (building construction, heavy and civil engineering construction, specialty construction contractors, land planning and development) market shares, subsegment shares, historic and forecast size and growth rates for the world, 7 regions and 12 countries, global competitor sales and market shares.
Other Data: Per capita average construction market expenditure, global and by country, construction market comparison with industry metrics across countries, construction market size as a percentage of GDP, global and by country; construction market customer information, global number of construction market enterprises for 2017, average construction market revenue per enterprise for 2017, global number of employees in the construction market, and average revenues per employee in the construction market for 2017- by country
Other Information: Drivers and restraints of the construction market, PESTEL analysis, construction market customer information, company profiles including products, strategy and financial performance for 5 construction market companies, highest valued construction projects, construction market survey information, construction market trends and strategies, construction market key mergers and acquisitions
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes. Sources include primary as well as extensive secondary research.
Number of figures in the report: 167
Number of tables in the report: 166

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About The Business Research Company
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

Oliver Guirdham
The Business Research Company
+44 207 1930 708
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