JLG highlights industry megatrends
By Leila Steed09 January 2023
Regionally-focused supply chains, as opposed to global arrangements, will be a major driver in the construction market for the next five years, says a new whitepaper from aerial platform manufacturer JLG.
The “5 New Global Megatrends Impacting the Construction Market” report, which outlines the key factors that have emerged since the start of the Covid-19 pandemic, says that before the pandemic the construction industry was largely dependent on suppliers from a few key countries, “which ultimately exposed several long-term risks.”
“Post-pandemic, it has begun moving towards region-for-region supply chains to create a more diversified supply base, including suppliers from mature, developing and emerging countries, a step toward the industry’s long-term evolution.”
With construction already facing both a labour and a skills shortage, the report also highlights how the pandemic further pushed businesses to adopt new ways of working - such as remote working, hybrid arrangements and flexible hours.
“The biggest question moving forward is whether the continuation of remote work is sustainable for the construction industry, or if its evolution will accelerate the adoption of autonomous machinery,” says the report.
Although the construction sector has always been notoriously slow to adopt new technologies - such as telematics, digital twins, automation and virtual reality - JLG’s report claims this is now changing.
Coupled with the societal shift towards sustainability, it says that “while some managers will remain stagnant, a large number have recognised that tools such as telematics or access control systems are a wise investment to enhance safety on the job site and ensure their machines are being operated properly.”
“Moving toward the future, that willingness to connect digitally will progress the construction industry in new and exciting ways.”
These dicsussion points accompany a range of others in the report, covering:
- Shifts in growth and trade
- Stronger societal deal
- Accelerating disruption
- Digitally powered customer
- New ways of working