An industry ready to push the boundaries
We re passionate about our trade. And its evolution! We re seeing a few trends that are changing the landscape:
Infrastructure needs are colossal.
Over the next decade, the public and private sec- tors will invest massively in ever larger and more complex projects.
Across the country, we ll be seeing, for example, the construction of hospitals and seniors homes; housing and water treatment centres to respond to population growth, primarily driven by immigration; sustainable transportation projects; and renewable energy power plants to accommodate the energy transition this alone will generate an unprecedented construction boom.
The economy may be uncertain, but the future is promising.
A global recession is looming on the horizon, but needs are so great and varied that we don t foresee any drastic consequences for the institutional, indus- trial, commercial, civil engineering and roads sectors.
The effects of inflation are starting to subside, but the increase in interest rates is slowing private residential projects. The supply chain broken by the pandemic in 2020 and the geopolitical situation are gradually stabilizing. However, the price of raw materials, such as steel and wood, remain volatile.
Off-site technology and construction are improving industry performance.
Like elsewhere in the world, Canadian clients are start- ing to require the use of building information modelling (BIM) for public infrastructure buildings of all types and sizes. The digital transformation will likely enable the construction sector to increase its productivity by up to 15% and reduce costs by 4 to 6%.1
As demand increases for new data capture technol- ogies, such as drones, robots and Internet of things sensors, their prices are falling, making them more accessible.
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