🕑 Reading time: 1 minuteConstruction industries faces a lot of challenges and issues such as productivity, sustainability, profit margins, lack of skilled labors, use of technology etc. which are discussed in detail.
What are the Growth Prospects of Construction Industries?Increase in the population will bring a huge future for the construction industry. It is being forecasted that the global population will be 9 billion by 2050. By this time majority of the population will be living in the cities. This will be highest demand of construction yet to be faced. The construction industry is one of the largest industry worldwide, that have to face different aspects of challenges and issues to maintain their significant growth. With the increase in demand in the field of construction, there comes challenges in the area of performance, profit, productivity, sustainability, labor and the total industrial growth.
Top Challenges Faced by Construction IndustryDifferent aspect of challenges faced in the present era by the construction industry are mentioned. These aspects have direct and indirect effect on the construction activity. The challenges faced in construction industry are:
- Lack of Productivity
- Lack of Skilled Labor
- Difference of Generations
- Challenges with adoption of technology
- Project Performance Challenges
- Issues with Sustainability
- Complexity of the Project
- Lack of Communication
- Unreliable Contractors
- Game of Blaming