Covid-19 has effected each sector around the world. From a kind of global lockdown to halting all the economic, social and cultural activities around the world, this virus has disrupted life in all its forms. The whole world is in a state of chaos and uncertainty as there is no possible treatment for this virus yet. Construction sector is certainly not an exception. Instead, this is one of the most affected sectors as it is the most practical one. Building requires people to be present there physically which eliminates the possibility of social distancing. It has not bid well for the construction companies as well as the construction estimating companies around the globe. The result of these changes are going to be long term and the situation is not likely to change for a long period.
Here in this article, we are going to discuss the possible trends that will prevail in the construction sector after Covid-19. The future circumstances will unfold as the time passes.
Trend of Failure, threats, restrictions and tensions in Construction sector:
The immediate threats that are being faced by the contractors in the construction sector are of disruptions in supply chain and the dilemma of crisis in terms of liquidity.
It has become increasingly difficult for the construction estimators to predict the cost due to the cost volatility. The situation is going to be persistent until the pandemic is over but the effects are also going to resonate for the construction cost estimating companies for a long time.
They are going to face restrictions and tensions in terms of material quality as well as the quantity. This will give rise to the higher financial tensions for the companies as well the contractors. The likely consequence for this can be the competition in development, which certainly does not bid well for the small companies. As they are and will face financial restrictions, it will become more difficult for them to get construction estimator to obtain accurate commercial estimating as well as the residential estimating. Situation is not likely to change for them even after the lockdown or the virus crisis.
Another important factor that is likely to sustain this trend is that of increase in the burden of administrators and managers. As the suspension of all construction activities is in effect, it is a massive challenge for them to administrate and manage the human as well as the financial resources. As they get affected, the overall economic activities will suffer. Which will add to the financial crisis of the contractors even more. This trend seems to have a long-term effect given the prevailing situation around the world.
Trend of Technological advancement is here to stay and grow even more:
With the situation of lockdown all around the world, there is a massive increase in the usage of technology in all sectors. We have seen a massive surge in the usage of tools and software that are linking people virtually.
This effectively fulfills the demand of social distancing. With this idea of implementing technology more and more in all sectors including the construction and building, public health is being insured.
Although, construction estimating companies already use technology to provide construction estimating services, it is very interesting to know that technology is also becoming a way of doing business even the fields of construction that is more practical and requires a lot of labor. Men are likely to explore these kinds of areas more where the conventional thinking is defeated through research. This period of lockdown is going to provide more and more such arenas for this kind of enthusiast. The effects are highly visible in the construction sector and building trends. Here is how:
The architecture and engineers are using virtual platforms more and more to get their work done. The use of Virtual Reality is getting common while looking at designs and building structures for interior, exteriors etc. This is a common practice now in both industrial and residential sectors. Technology is a way of doing things in commercial estimating and residential estimating and hence, it is becoming more and more relevant.
Engineers are using augmented reality and are virtually present at the construction site. This is how they are getting most of their work done for the construction projects.
This trend is likely to become a widely practiced norm in the construction sector. As it has numerous cost cutting and health related benefits for both the contractors and the labor. Also benefits the work of construction estimating firms.
Some of the analyst in the construction sector are pointing towards the term of “Automated site” amid this entire Covid-19 scenario.
As they are predicting that, the use of drones for site maps and site inspection is going to increase. They are finding it more efficient than the conventional site inspection traits which negate the term and purpose of Social distancing. We are likely to see this trend grow even more now as the world is witnessing a chaotic change in previous trends.
Trend that is going to favor the domestic labor in building and construction more than ever:
The whole world has been put under lockdown amid the coronavirus crisis and along with that, border restrictions are in effect in almost all of the countries. Every country has put forward a screening process for passengers entering or leaving the country. This has led to a decrease in demand for international labor, as everyone is scared of catching this deadly virus. There is likely to emerge a trend that will witness an increase in the demand of domestic labor all around the world.
As it is quite evident, that the investors trust will be re-established in the sector, the bidding process will be streamlined and hence, the sector will see a surge in terms of work opportunities. This will require the labor that will be at their immediate disposal. Since, the pandemic has sought many out of their jobs; these will be a priority for the contractors as well as the labor.
Now the idea may seem far-fetched or not practical at all, but all the other trends are pointing towards the possibility if this happening eventually. The financial crisis and burden is also going to play a part in this. Though the work of construction estimating companies will become difficult amid the financial crisis, it will be easy in terms of labor cost estimating. As the disruption of economic activity is effecting the people with limited purchasing capacity, governments are likely to priorities the labor demands among their own citizens. Construction sector requires the supply of labor. Buildings are not going to build themselves, Industrial duties are not going to perform themselves, and with the international travel restrictions in effect, the domestic labor is going to benefit from the situation while observing all the precautionary measure and the officially enacted SoPs.
The World is certainly going to transform given the virus crisis and the real estate and the construction sector are among the most effected sectors.
Following this situation, project scheduling will be one of the most important aspects for any construction project. Since, there will be an increase in the supply of material once it is all over, but the threat will loom over the crowded place, contractors will have to carefully review and mitigate the impacts of scheduling.
Commercial sectors and the site works are at the risk of facing a backlog and the financial crisis is looming over every sector. However, change is inevitable in every sector even in the construction. Challenges are going to mount as well as be at ease for the construction estimating companies. Several new trends are going to be explored, practiced and even sustained. All we have to do is to hope that it will once again bring the sustainability that is required.