The holiday season is once again upon us and I find myself reflecting on this past year and all there is to look forward to in 2024.
One of the biggest standouts for me from the Best of Success conference was the wonderful speaker Garen Armstrong. Armstrong spoke in great detail on the importance of family, perseverance and all he learned during his recovery from a recent heart transplant.
As construction experts, we know a thing or two about perseverance. We’ve had to change paths often in our industry. The pandemic, a recession and countless hurdles in-between have caused contractors, owners and manufacturers to pivot how we do business.
Finding a Life Balance
However, for so many of us, it’s not just always about business. We’re constantly juggling families and home life along with our constant work. If Armstrong’s speech taught me anything, it’s that life, like our beloved industry, doesn’t always go as planned.
Finding the happy balance is the sure way to a happy home and work life. So how do we do that? How do we keep our work stresses at the office? While there’s no easy answer, one thing is certain. The need to be present with our families is obvious. May we all go into this next year with clear minds and positive attitudes.
Construction Outlook
On the business side of things, if the market outlook is to be believed, then the coming year looks strong. According to the American Institute of Architects, after the surge we saw in 2023, market-spending growth is actually expected to come back to earth in 2024. Forecast panelists are calling for a modest 2 percent increase in overall building spending next year.
With construction services in full swing, there is a lot to be hopeful for on the horizon. Some trends to watch include the virtual construction market growth. The adoption of new technologies in 2024 involving virtual design and visualization are sure to be just some of the market share drivers. Construction services such as prefabrication and modular construction are changing how structures are being built and are sure to continue on that path over the next year or so. The global modular construction market was worth about $91 billion as of 2022, and it is expected to grow to $120.4 billion by 2027.
Speaking of near opportunities in the upcoming future, here are some important upcoming dates and events to keep in mind:
- January 23-25 – World of Concrete
- February 8 – Building Enclosure’s Waterproofing Webinar
- February 27-29 – NAHB International Builders’ Show
What are you most looking forward to in 2024? What lessons are you taking with you into the new year? If you have any thoughts on what this year will bring to our industry, feel free to email our Editor John Wyatt at wyattj@bnpmedia.com.
We look forward to celebrating another year with all of you.
