The US Chamber of Commerce in partnership with USG just released their 2018 Q1 Commercial Construction Index.
Overall things continue to look positive for the foreseeable future in commercial construction. When reviewing the index some interesting data caught our eye that we would like to share.
Our top 5 takeaways from the Q1 CCI regarding prefab/modular construction techniques:
62% of general contractors are currently utilizing some form of prefab/modular
67% of general contractors expect to use prefab to grow over the next three years
The labor shortage continues to worsen, 90% of general contractors now acknowledge it
Top sectors with high demand for prefab/modular are in order: Hospitality, Healthcare, Manufactured Buildings, and Multi-Family.
Almost 90% of GC’s utilizing some form of prefab report achieving benefits. The following is a list of benefits experienced by the GC’s polled:
– 89% reported – Increased jobsite efficiency
– 85% reported – Increased jobsite labor productivity
– 79% reported – Reduction in project schedule
– 79% reported – Reduction in jobsite waste
– 78% reported – Reduced project risk
– 78% reported – Improvement in overall quality