An ongoing labor shortage has numerous industries feeling the strain, and commercial construction is no exception. Though contractors anticipate a strong year ahead, improving job site and labor efficiency are shifting from ideal options to mandatory ones. In response to this rising need, many contractors and builders are tapping new solutions in construction, such as prefab materials and modularization.
Modular building materials are growing in popularity due to their 89% boost in work site efficiency, 85% boost in labor efficiency, and 58% cost savings. As more companies realize these benefits, their competitors are forced to hop in on the tech. Much of this innovation is concentrated in the Northeast, and effect that observers attribute to low expectations for labor availability.
Amidst the labor shortage, contractors are expecting reliable revenue and performance in the next quarter. The growth of these efficient technologies no doubt impacts their confidence.