*Editor’s Note (March 16, 2020): Our team of analysts’ are currently working to refresh this outlook in light of COVID-19 and uncertainty in the global economy. As we monitor these rapidly changing developments, visit our new Resource Hub, a centralized location with all of the latest insights and business implications surrounding COVID-19, designed to help executives navigate uncertainty and the resulting impacts on global business.
The North American construction industry has benefited from growth in nearly all application segments, from residential new and remodel construction, to maintenance, repair, and operations (MRO) and infrastructure. The industry continues to see spending and volume increases since the Great Recession. While homebuilders struggle to supply new homes at entry-level price points, skilled labor shortages impact construction throughput and completions, and supply and demand models are shifting, we expect to see a fast start to 2020 in housing construction.
Construction industry professionals should think about rebalancing their building product and service portfolios to include more renovation, remodeling and non-building emphasis. Despite uncertain macro-fundamentals, we do see opportunities in housing, with no recessionary conditions for US GDP in the first half of 2020.
In the short video below, DuckerFrontier’s Building & Construction experts outline the key segments to monitor and strategies discussed in the 2020 Building & Construction Outlook to help your business capitalize on the industry’s healthy growth in 2020:
DuckerFrontier’s Building & Construction team is at the forefront of key trends impacting the industry. How can we help you deliver better outcomes for your business in 2020? Contact us to connect with an industry expert.
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*Editor’s note: This page was updated on January 15, 2020 to reflect current trends in the Building & Construction industry.