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Owing to Increasing Investments in Construction Projects, the US Accounted for around 76.7% of the North American Compaction Machine Market

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Archives, Global Trade Daily, Market insight

Owing to Increasing Investments in Construction Projects, the US Accounted for around 76.7% of the North American Compaction Machine Market

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The global compaction machines market is predicted to exhibit a healthy CAGR of 6.4% between 2022 and 2032 with an expected valuation of US$ 5.2 Bn in 2022 and totaling revenue of around US$ 9.7 Bn by 2032. The market was valued at US$ 4.9 Bn in 2021.

According to the historical forecast, the global compaction machines market grew at a value of 5.2% between 2017 and 2021. However, the surging investments in building and construction projects along with the rising prevalence of modern machinery to improve productivity and reduce labor costs are expected to elevate the demand for compact machines in the future.

Owing to the rapid expansion of the building and construction industry along with accelerated demand for advanced machinery, the overall sales of compaction machines are predicted to grow at a phenomenal pace across the forecast period.

Key Takeaways

  • Compaction machines are strong equipment utilized for compaction purposes throughout construction and building activities. Such powerful machines are used to reduce the size of the soil, concrete, gravel, or asphalt used in the construction of roads, dams, airports, and other structures. They help users to increase overall productivity and reduce labor costs.
  • The advancements in compaction equipment and the emergence of staunch government regulations are all expected to positively influence the growth of the compaction machine market over the coming years.
  • A significant surge in the compaction equipment market has been witnessed due to the emergence of compact paving materials such as asphalt mixes and roller-compacted concrete is expected to push demand in the global market.
  • Since there is a surge in construction activities all over the world, many new construction projects require advanced and compact construction equipment such as tandem rollers and pneumatic rollers, which can work efficiently in less time.
  • Governments in several countries are launching various construction projects due to the rising population and strengthening commercial infrastructure in their respective regions. This in turn is expected to bolster the sales of machines like compaction equipment.
  • Strict environmental regulations across the globe are rising environmental concerns along with growing infrastructures are predicted to propel the demand for electrically operated compaction machines in the global market during the forecast period.
  • To reduce pollution levels, small businesses are opting for electric machines that save costs and improve overall productivity. Therefore, the rising demand for electric compaction machinery is projected to support market growth during the next ten years.
  • The global construction market is predicted to exhibit a phenomenal growth rate by gathering a revenue of about US$4.0 trillion throughout the forecast period and is further anticipated to reach US$16 trillion with more than US$8.0 trillion in emerging economies by 2032.

Competitive Landscape

There is high competition witnessed in the global compaction machines market owing to the presence of several dominant regional as well as domestic players. Key compaction machine manufacturers are launching new products, collaborating, and partnering with vehicle manufacturers for better market opportunities.

More Insights into the Compaction Machines Market

  • The U.S. is expected to dominate the North American compaction machines market by accounting for about 76.7% of the total revenue. Owing to the rising need for smart cities and increasing government investments in the latest construction projects, the market is predicted to reach US$ 621.5 Mn in 2022.
  • According to the FMI analysis, China is estimated to show lucrative growth opportunities over the projection period. The market is expected to accelerate at a flawless CAGR of 8.1% in 2022. Despite the supply chain issues, China’s commercial construction industry is anticipated to maintain expansion over the assessment period.
  • The ever-rising need for residential and commercial development in the nation is expected to continue owing to the increase in household income and more people moving from rural to urban regions.
  • The expansion of the residential and commercial construction industry was bolstered due to affordable housing opportunities in both the public and private sectors. It has also been predicted that in the upcoming years, non-residential infrastructure would boom massively. Resulting in progressive sales of the compaction machines market.
Why Construction Companies are Opting for Drone Services
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Why Construction Companies are Opting for Drone Services

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Drones are no longer just an abstract , futuristic idea; today, drones are in use in a variety of sectors and construction is no exception. In fact, as per recent data from some time ago, the construction industry has an increase in drone use of 239%.

Construction companies opt for drone services to gather real-time information on projects and to understand the activities on site. Aerial insights help in tracking progress and aid in identifying problems early, prior to their becoming expensive or   delays to the timeline of a project.

However, it isn’t the sole method used by construction companies to use drones. In the process of spending just one hour a week mapping a construction site, contractors have access to a wealth of information on nearly all aspects of their projects. Drones for construction can do more than just increase communication and keep projects on schedule. They also improve security, reduce time and money, speed up surveying, and provide precise measurements. These are the impacts of drones on the construction industry.

This isn’t a surprise because drone services can help boost any construction venture to the highest step.

Easier Land Mapping

Additionally, footage from drones helps reduce the number of people needed to trace the terrain. With fewer employees walking on potentially hazardous terrain, the chance of injury and accidents is reduced.

When it comes to land mapping, drones provide high image resolution, video recordings, and also a LiDar (Light Detection and Ranging) sensor.

The LiDar sensor emits the laser beam and records its reflection. It can be very useful for cartography, especially in places where it is hard for human beings to traverse.

Aerial Imaging

Construction sites prefer availing drone services to capture aerial images which are useful for keeping track of the development of construction projects but also as marketing materials. In general, there’s nothing better to showcase your work than taking before and after photographs. Business analysts utilize photos of before and after to showcase the work they do. Designers of interiors also do this, as do construction firms, who are also doing it.

In the case of video footage of construction sites many contractors choose photographs of progress or aerial views from planes or helicopters as they give a clearer view.

Reduced Risks on Site

In the construction industry, the safety of workers is among the main priorities. Yet accidents are a frequent incident, especially falls, which are responsible for 34 percent of all fatalities among workers.

Manual measurements and inspections typically necessitate workers climbing onto unstable platforms and navigating unsafe conditions. Numerous construction firms have begun using drones to accomplish these tasks since drones can significantly decrease the chance of accidents as well as potential costs and hassles.

Drones are able to provide images of areas that are hard to access but easily seen from the air and also provide an overview of the progress made by the project, particularly if you aren’t there.

Drones significantly reduce the length of a project and also reduce the risk of mistakes by creating physical maps that offer full coverage of an area . They can also capture the smallest of details.

Better Inspections

When it comes to building in any form, including high-rises, bridges, cable lines, or even roofs, inspections are required. Many construction firms still opt to conduct their inspections using the traditional method. However, construction workers are often faced with grave injuries or even death when they conduct traditional inspections.

Drones can follow and check construction sites faster and more precisely than human beings. They come with cameras that have a zoom feature to create high-resolution photos. Drone photography gives a fantastic 360-degree view of structures that may affect the development.

So you will be able to identify any repairs that are required or potential safety dangers and address any issues before they become more severe.

In conclusion, drones are the most secure and efficient alternative to having employees physically examine construction sites. The risks to health and safety to workers are greatly reduced by allowing drones to do inspections.

The impact of drones on the construction industry

The use of drones on construction sites will bring significant changes to the construction sector. Drones have already started to alter how the construction industry functions and will last for a long time with lasting impacts.

Drones have greater endurance and agility at work locations. Their capability to gather and analyze data allows drones to work more efficiently. The requirement of manual work is now eliminated. In the near future, drones will assume the role of an increasingly important part in large-scale projects. They’re poised to reduce the time required to build a building by a large margin, which will reduce the cost. Contractors who use drones are able to submit more ambitious proposals and finish the work on time.

Drone technology has advanced to the point that instant connectivity and connectivity at the work site are in high demand. Drones are now being utilized increasingly to maintain continuous contact with workers. Drones equipped with mounted cameras are able to provide video footage that can aid in communications and monitoring. They can help companies monitor their employees and their work and are considered a vital tool for supervisors and investors.

Already, management and communication have seen a dramatic improvement in efficiency thanks to the capability of collecting live data from drones. The speedier process of collecting data is having more impact each day. The capability to control the flow of work 24/7 is a first and will surely significantly impact every aspect of construction.

Conclusion

The influence of drone technology in the building industry revolution is indisputable. The first time it was used as a leisure game or novelty, it turned into a competitive advantage for people who were willing to use drone technology to their advantage.

Drones are able to do more than simply create high definition images. Drones that scan with drones can produce various kinds of valuable information. They can make use of additional equipment like infrared, geo-locating , and thermal sensors to aid with mapping the construction site as well as designing construction plans. The images captured can be transformed into 3D models that have real-world conditions included, which allows us to improve the quality of iteration, better quality and higher value estimates during the pre-construction phase.

Drones are taking on an important role in the construction process and are growing in use and popularity. Innovative site managers are constantly coming up with new ways to use drones in construction sites.

 

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The COP26 Deforestation Pledge Will Not Cut Global Lumber Supply Please mention the Source

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IndexBox has just published a new report: ‘World – Industrial Roundwood – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

Over 120 countries signed the Glasgow Leaders’ Declaration on Forests and Land Use, a voluntary commitment to halt deforestation. The world’s top lumber suppliers, such as Canada, Russia and Sweden, are among the signatories, as well as those countries with the highest rates of tropical forest loss – Brazil and Indonesia. Based on experience from a similar 2014 agreement signed in New York, the obligations will not force suppliers to significantly slow their pace of deforestation but rather instigate an increase in planting new trees to replace those cut-down.

Key Trends and Insights

In November 2021, more than 100 countries signed the Glasgow Leaders’ Declaration on Forests and Land Use, obligating them to halve deforestation by 2020 and cease it altogether by 2030. The endorsers account for about 90% of global tree cover, and 28 out of these countries are obligated to stop clearing tropical forests to produce palm oil, cacao and soy. The COP26 obligations permit the continuation of clearing forests as long as new trees are planted to replace those cut down.

The declaration is accompanied by $19.2B in financing and is legally non-binding because it was approved outside the UN Framework Convention on Climate Change. The world’s largest lumber suppliers, such as Canada, Russia and Sweden, are among the signatories, as well as those countries where tropical forests are located, namely Brazil and Indonesia. Malaysia, Laos, Cambodia, Myanmar and Paraguay, which are among the countries with the highest deforestation rates, did not sign the Glasgow Declaration.

According to Global Forest Watch, in 2020, the global landmass covered by forests decreased by 25.8M Hectares. The most significant decrease in forest mass was recorded in Russia (5.44M ha), Brazil (3.29M ha), Canada (1.20M ha), the US (1.97M ha) and Indonesia (962K ha). As a consequence of Covid restrictions, global trade in industrial round wood decreased from $17B to $15B, dropping in real terms from 233 to 205 cubic meters.

Theoretically, the Glasgow Declaration could have a severe effect on the global lumber market. If it were legally binding, the critical lumber supplying countries would decrease logging activities, which would lead to a deficit in lumber around the world. The resulting effects of the preceding 2014 New York declaration prove that such agreements do not slow down the pace of deforestation in signatory countries, for example, Indonesia. It’s more likely that governments will increase efforts to plant new trees to comply with the agreement and only insignificantly decrease logging. The high demand for lumber in the construction industry will decrease prospects of reining in the pace of deforestation worldwide.

Global Industrial Roundwood Imports

In 2020, overseas purchases of industrial roundwood decreased by -12% to 205M cubic meters for the first time since 2017, thus ending a two-year rising trend. In value terms, industrial roundwood imports fell $16.9B to $14.8B (IndexBox estimates) last year.

In 2020, China (92M cubic meters) represented the leading importer of industrial roundwood, committing 45% of total imports. Austria (21M cubic meters) ranks second in total imports with a 10% share, followed by Sweden (6.2%). Germany (9.1M cubic meters), Finland (7.1M cubic meters), Japan (6.6M cubic meters), Belgium (5.7M cubic meters), India (4.4M cubic meters), South Korea (4.4M cubic meters), Poland (3.4M cubic meters) and Canada (3.2M cubic meters) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +4.2% from 2010 to 2020. At the same time, Belgium (+9.5%), Austria (+4.8%), Sweden (+1.9%) and India (+1.3%) also displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing roundwood importer globally, with a CAGR of +9.5% from 2010-2020. Poland and Germany experienced relatively flat trend patterns. By contrast, Finland (-2.8%), Canada (-3.1%), Japan (-5.5%) and South Korea (-8.4%) illustrated downward trends over the same period.

In value terms, China ($8.4B) constitutes the largest market for imported industrial roundwood worldwide, comprising 57% of global imports. The second position in the ranking was occupied by Austria ($713M), with a 4.8% share of global imports, and it was followed by India, with a 4.4% share.

The average industrial roundwood import price stood at $72 per cubic meter in 2020, flattening from the previous year. Prices varied noticeably by the country of destination; the country with the highest price was India ($147 per cubic meter), while Austria ($35 per cubic meter) was amongst the lowest. From 2010 to 2020, the most notable rate of growth in terms of prices was attained by South Korea, while the other global leaders experienced more modest paces of growth.

World’s Largest Industrial Roundwood Suppliers

In 2020, New Zealand (40M cubic meters), distantly followed by the Czech Republic (21M cubic meters), Germany (20M cubic meters), the U.S. (18M cubic meters), Russia (15M cubic meters), and Uruguay (12M cubic meters) represented the leading exporters of industrial roundwood, together constituting 64% of total exports. Australia (7.4M cubic meters), Norway (6.8M cubic meters), Canada (4.4M cubic meters), France (4.2M cubic meters), Latvia (4M cubic meters), Papua New Guinea (3.9M cubic meters), and Belarus (3.6M cubic meters) followed a long way behind the leaders.

In value terms, New Zealand ($2B), the U.S. ($1.6B) and Russia ($1B) were the countries with the highest levels of exports in 2020, together accounting for 40% of global exports. Germany, the Czech Republic, Uruguay, Papua New Guinea, Australia, Canada, France, Norway, Latvia and Belarus lagged somewhat behind, together accounting for a further 39%.

Source: IndexBox Platform 

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Cities With the Biggest Increase in Construction Jobs

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While the potential for trillions of dollars of new infrastructure spending looms on the horizon, America’s construction industry is struggling to even keep pace with current demand for new homes, businesses, roads, and bridges. A shortage of supplies and employees has created ongoing challenges for construction firms and their customers.

“The home building industry faces a major shortage of skilled workers. This persistent challenge endangers the affordability and availability of housing and hinders a robust economic recovery,” said Ed Brady, president and CEO of the Home Builders Institute (HBI), which recently released a report detailing the extent of the worker shortage. At the start of 2021, 60% of builders were experiencing a labor shortage, and the industry was in need of more than 300,000 additional workers, according to HBI. Even more recently, the trade association Associated Builders and Contractors estimated 430,000 additional workers would need to be hired in 2021.

While the construction labor shortage has been exacerbated by recent economic conditions, it is a trend that predates the COVID-19 pandemic. The longer-term issue stems from a decades-long decline in trade education and a lack of interest among younger workers, many of whom perceive employment in the construction industry as a last resort.

The construction labor shortage is most severe for framing crews and carpenters, where about 25% of firms reported a serious shortage and nearly another 50% reported moderate labor shortages, the HBI report noted. Other trades facing significant labor shortages included bricklayers, masons, concrete workers, painters, and plumbers.

Despite short- and long-term labor shortages at the national level, states where population growth has been hottest are also where construction hiring has boomed in recent years. From 2015 to 2020, the Bureau of Labor Statistics recorded about 35% growth in construction employment in Idaho and Nevada, as well as about 30% growth in Florida, Arizona, Oregon, and North Carolina. In contrast, states in the Mid-Atlantic and Midwest regions have seen construction jobs stagnate or even decline over the past five years.

To find which metropolitan areas have added the most construction jobs over the same time period, researchers at Construction Coverage analyzed BLS data between 2015 and 2020, calculated the percentage change in construction employment, and ranked all metros of 100,000 residents or more based on that growth.

Here are the large metropolitan areas that added the most construction jobs over the past five years.

Metro Rank   Percentage change in construction employment (2015–2020) Percentage change in total employment (2015–2020) Total change in construction employment (2015–2020) Total construction employment (2020) Median annual wage for construction workers (2020)

 
Sacramento–Roseville–Arden-Arcade, CA    1     48.8% 10.7% 17,510 53,370 $55,250
Charlotte-Concord-Gastonia, NC-SC    2     37.9% 8.7% 15,270 55,580 $41,270
Las Vegas-Henderson-Paradise, NV    3     34.1% No significant change 13,320 52,340 $49,140
Phoenix-Mesa-Scottsdale, AZ    4     33.3% 12.4% 25,900 103,640 $47,030
Tampa-St. Petersburg-Clearwater, FL    5     32.2% 7.2% 14,570 59,860 $38,870
Nashville-Davidson–Murfreesboro–Franklin, TN    6     31.3% 9.3% 8,210 34,470 $41,810
Portland-Vancouver-Hillsboro, OR-WA    7     30.9% 4.9% 13,360 56,580 $59,390
Jacksonville, FL    8     29.8% 9.8% 7,800 33,970 $38,450
Riverside-San Bernardino-Ontario, CA    9     29.6% 13.7% 19,100 83,650 $52,580
Miami-Fort Lauderdale-West Palm Beach, FL    10     28.5% 3.0% 23,080 103,950 $41,440
Salt Lake City, UT    11     27.2% 10.4% 8,370 39,130 $48,060
Orlando-Kissimmee-Sanford, FL    12     25.5% 6.6% 11,850 58,230 $39,670
Grand Rapids-Wyoming, MI    13     24.2% No significant change 3,770 19,320 $46,190
Raleigh, NC    14     22.1% 10.1% 5,100 28,180 $43,340
Indianapolis-Carmel-Anderson, IN    15     20.1% 2.7% 6,950 41,580 $48,360
United States    –     8.4% 0.9% 460,010 5,937,830 $48,610

 

For more information, a detailed methodology, and complete results, you can find the original report on Construction Coverage’s website: https://constructioncoverage.com/research/cities-with-biggest-increase-in-construction-jobs-2021

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Archives, Commentary, Global Trade Daily

Cities With the Most Women in Construction

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Construction has long been a male-dominated field. According to data from the Bureau of Labor Statistics, only about 13 percent of payroll employees in the construction industry are women—a number that has remained relatively stagnant since the 1990s. When also taking into account self-employed workers, the proportion is even lower, at just 10.3 percent. Despite the gender gap in employment, some job functions and locations offer better opportunities for women seeking a career in the construction industry.

Nationwide, there are over 1.1 million women working in construction, compared to 9.9 million men. In addition to differences in total employment, men and women tend to fill different occupations within the industry. According to the Bureau of Labor Statistics, women who work in construction are most likely to work in office or administrative positions. By contrast, men have a much higher representation in roles related to finance, transportation, construction, extraction, and maintenance.

A major benefit for women in the construction industry is that they tend to command higher wages than female workers in other fields. The median full-time wage for women in construction is $46,808 per year, compared to $43,394 for female workers across all industries. Interestingly, the opposite is true for men in construction, who generally earn less than the typical male worker. In addition, men and women in the construction industry report relatively equal pay. While the national gender pay gap across all industries is 19 percent, the gender pay gap in construction is only 3.7 percent.

Although only 10.3 percent of workers in the construction industry are women, some parts of the country have much stronger female representation. To find which cities have the most women in construction, researchers at Construction Coverage analyzed employment data from the U.S. Census Bureau’s 2019 American Community Survey 1-Year Estimates. Researchers ranked cities based on the female employment share in the construction industry. In the final rankings, cities were categorized by population size: small (100,000–149,999), midsize (150,000–349,999), and large (350,000 or more).

Most of the cities on the list are concentrated in the South or the West, with some representation in the Midwest and little in the Northeast.

Here are the cities with the most women in construction.

City Rank Female employment share in the construction industry Total female employment in the construction industry Total male employment in the construction industry Median earnings for full-time workers in the construction industry
Minneapolis, MN     1     19.1%     1,298     5,495     $54,521
Seattle, WA     2     17.6%     2,697     12,664     $70,966
San Francisco, CA     3     17.0%     2,985     14,590     $70,711
Washington, DC     4     16.1%     1,831     9,517     $52,035
Virginia Beach, VA     5     15.5%     2,187     11,891     $52,325
Colorado Springs, CO     6     15.4%     2,743     15,037     $55,363
Atlanta, GA     7     14.6%     885     5,158     $44,346
El Paso, TX     8     14.1%     2,968     18,044     $35,710
Charlotte, NC    9     13.6%     4,747     30,113     $36,988
Wichita, KS    10     13.4%     1,855     12,011     $40,067
San Diego, CA    11     13.3%     4,270     27,919     $53,990
Tampa, FL    12     13.3%     2,015     13,135     $49,938
Kansas City, MO   13     13.1%     1,760     11,630     $41,742
Portland, OR    14     13.0%     1,897     12,703     $63,892
Baltimore, MD    15     12.3%     1,577     11,201      $50,740
Louisville, KY    16     12.1%     1,932     13,971     $46,560
New Orleans, LA    17     11.9%     1,143      8,433     $37,300
Austin, TX    18     11.8%     4,650     34,688     $40,595
Denver, CO    19     11.8%     3,636     27,277     $49,437
Columbus, OH   20     11.7%      2,395      18,139     $40,913
United States –     10.3%     1,136,672     9,900,222     $48,307

 

For more information, a detailed methodology, and complete results, you can find the original report on Construction Coverage’s website: https://constructioncoverage.com/research/cities-with-the-most-women-in-construction-2020