2024 Building & Construction Contractor Trends Revealed

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04 December 2024 | Updated 05 December 2024

L.E.K Consulting has released its 2024 Building & Construction European Contractor Survey Report, with insights from participants across the building and construction sector.

The report examines how wider economic pressures are shaping priorities in the sector. Let’s take a look at the most relevant insights for facilities and workplace managers.

 

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Market Pressures

 

The building and construction sector has been impacted by persistent inflation, high interest rates, and consumer uncertainty, leading many contractors to prioritise short-term cost-cutting and contract acquisition.

Skills shortages are also a major challenge. 350,000 tradespeople have left the workforce in the past five years.

 

Regulatory Demands

 

The increasing regulatory demands for safety, such as The Building Safety Act 2022 and The Terrorism (Protection of Premises) Bill, emphasise the importance of compliance and accountability in facilities management practices. This regulatory environment is leading to the increasing adoption of building information modelling software and digital solutions to maintain a golden thread of information throughout the building lifecycle.

 

Long-Term vs. Short-Term Focus

 

The survey revealed that contractors are focussing on short-term operational concerns, but there is a recognition that preparing for the eventual recovery requires careful balancing of immediate needs with strategic investments. Securing new contracts, improving workplace safety and reducing operating costs are the highest-rated priorities among contractors.

Picture: a photograph of a building site where high-rise tower blocks are being built. Large cranes and scaffolding can. be seen. Image Credit: Shutterstock

Article written by Ella Tansley | Published 04 December 2024

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