European construction industry; What are the key trends?
Over the past 2 decades USP Marketing Consultancy has preformed continues international market research in the Construction, DIY and Installation industries.
Over the past 2 decades USP Marketing Consultancy has preformed continues international market research in the Construction, DIY and Installation industries. During these years, we have accumulated a lot of knowledge trough our dedicated and multi client researches. Today we would like to share some of our thoughts on the construction sector.
Let start with the economical outlook. In the latest report of the European architectural barometer , Q2 2016, predictions are given until 2018. The overall picture for Europe is one of growth (for most countries) or stabilization (Italy). The UK remains a little bit of an unknown until we have the results in from the Q3 measurement (post Brexit vote)
The general trend we see in the construction sector is that it’s becoming ‘smarter, faster and cheaper’. Increasing adoption of BIM (in our opinion a license to operate in the near future), modular & prefab building techniques, more demand for a faster building process and new finance models/Bio-based materials/new construction techniques all contribute to this.
Other trends like sustainability are becoming more important again, after a slight dip during the financial crisis. It will be very interesting to see what effect the Paris climate agreement will have on the sector. The construction industry is also changing when it comes to targeting & influencing decision makers. For example, in some countries architects are losing ground to contractors and engineering companies when it comes to brand decisions.
Furthermore, the way to reach the architects is also slowly changing. Social media is becoming more important (differs per country), the importance of tradeshows is slowly declining (again differs per country) and the requirements towards manufactures are also changing.
All of the trends above, and trends like the increasing demand for total system suppliers, different ways of construction, job site assembling and the shortage of labor, can have an effect on your strategy.
There are also other trends like continued urbanization, the ageing of the European society, increasing legislation from Europe. But these will be the topic of a separate post.
In case of any questions feel free to contact me at Hoogenboom@usp-mc.nl
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