Tariffs and Innovation Shape the Construction Landscape
As we delve into 2025, the construction industry faces both opportunities and challenges, prominently influenced by the sudden surge in construction material prices attributed to impending tariffs. These tariffs, particularly a new 25% levy on steel and aluminum, are pressing contractors and material suppliers alike to strategize how to mitigate climbing costs. Such price escalations are not merely a product of market dynamics; they are largely a direct reaction to geopolitical trade policies, stirring uncertainties across the supply chain..
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Important Players
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Associated Builders and Contractors Central Ohio Chapter
Providing industry benchmarks and outlooks critical for strategic decision-making.
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Goldbeck UK
Leading large-scale urban regeneration projects using innovative construction models.
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Ryan Companies US
Pioneering industrial space transformations, prominently in expanding markets like Arizona.
Potentials
- Leveraging automation and AI to improve construction efficiency
- Expanding into markets with growing construction backlogs
- Adopting sustainable building practices to meet regulatory requirements
Risks
- Tariffs increasing the cost of building materials
- Supply chain disruptions causing project delays
- Compliance with evolving safety regulations impacting project timelines
Regulations
- New safety standards and requirements to enhance worker protection and reduce accident rates