As manufacturers look ahead to the remainder of 2023 and beyond, the Association of Equipment Manufacturers says the economic landscape continues to present challenges and opportunities for the construction and agricultural markets.
In the Q&A below, AEM Senior Director of Construction Sara Feuling and Director of Agriculture Austin Gellings share their outlooks and trends to watch.
What are the challenges and opportunities facing the construction industry in the near term?
Feuling: As the construction industry embraces change, there will be no shortage of challenges on the horizon. However, along with those challenges come a multitude of opportunities. Numerous equipment technologies will fundamentally transform the way the construction industry operates, which necessitates an entirely new approach, not only to the jobsite itself but also to people and the workforce. A variety of alternative power solutions will also be considered and implemented as the industry looks to reduce its carbon footprint, each bringing along with it its own unique challenges. The construction industry is nothing but resilient, though, and it will continue to face challenges head-on and take advantage of opportunities in front of it.
How willing is the construction industry when it comes to investing in and adopting new technology?
Feuling: It's long been said the industry is slow to adapt to, and adopt, technology. That’s not entirely the case, however. The men and women who support the industry want to do their jobs efficiently and effectively, and they take pride in their work. New and cutting-edge construction equipment technologies allow them to do their work faster, better, and safer. And, as technology is adopted, its benefits to people, planet, and productivity will be validated, driving wider industry adoption. Finally, manufacturers continue to invest in technology, focusing on the needs of their customers. The construction industry will soon see proven benefits, along with an even greater return on their investment.
What’s your outlook for the construction industry in the near term and long term?
