Engineering and construction CEOs are more optimistic this year than in previous years, according to PwC’s 2014 Global CEO Survey. Forty-one percent of respondents expect to grow over the next 12 months, up from 31% last year.
This and other big-picture facts are available in the survey, which provides multiple “snapshots” of the engineering and construction sectors, including growth markets, government impact on the industry, transformative global trends, and concerns about sustainability and climate trends.
Here are some of the snapshots we found the most interesting (read the full report):
- 50% of CEOs in the engineering and construction sector believe the global economy will improve over the next 12 months; 9% believe it will decline
- 78% of sector CEOs are concerned about how governments will respond to deficit and debt in the next year—this is the concern that the highest number of engineering and construction CEOs reported worrying about
- 76% of sector CEOs are worried about high and volatile raw material prices
- Concerns about infrastructure gaps are a consistent concern—47% of sector CEOs reported concerns that inadequacy of infrastructure could hurt growth, 50% think that infrastructure think it should be one of their government’s top 3 priorities, and 41% feel that the government is ineffective (as opposed to 33% who believe that the government is effective)
- The U.S. topped the list of growth markets, and the Middle East ranked much higher as growth markets for engineering and construction CEOs than for other sectors
- Cost reduction heads the list of restructuring activities
- 69% of sector CEOs believe that technological advances such as the digital economy, Big Data, and social media will be the biggest transformative trend for their businesses in the next year
- E&C CEOs are significantly more worried about the availability of key skills in their workforces than are other industries.
- 89% of E&C CEOs say it’s important for their company to try and reduce their environmental footprint.
- 59% of E&C CEOs believe that resource scarcity and climate change will transform their business
For more, read the full report.
Related Stories
Airports | Jul 18, 2022
FAA will award nearly $1 billion for airport projects
The Federal Aviation Administration (FAA) will award nearly $1 billion to 85 airports of all sizes across the country to improve terminals.
Building Team | Jul 18, 2022
Understanding the growing design-build market
FMI’s new analysis of the design-build market forecast for the next fives years shows that this delivery method will continue to grow, despite challenges from the COVID-19 pandemic.
Mixed-Use | Jul 18, 2022
Mixed-use development outside Prague uses a material made from leftover bricks
Outside Prague, the Sugar Factory, a mixed-used residential development with public space, marks the largest project to use the sustainable material Rebetong.
Building Team | Jul 15, 2022
ABC: Construction materials prices increased in June, up 20% from a year ago
Construction input prices increased 1.9% in June compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today.
Arenas | Jul 15, 2022
U. of Oregon renovation aims for ‘finest track and field facility in the world’
The renovation of the University of Oregon’s Hayward Field had the goal of creating the “finest track and field facility in the world.”
Building Team | Jul 14, 2022
ABC’s construction backlog inches lower in June; Contractor confidence falters
Associated Builders and Contractors reports today that its Construction Backlog Indicator fell 0.1 months in June and stands at 8.9 months, according to an ABC member survey conducted June 21 to July 5.
Sustainable Development | Jul 14, 2022
Designing for climate change and inclusion, with CBT Architects' Kishore Varanasi and Devanshi Purohit
Climate change is having a dramatic impact on urban design, in terms of planning, materials, occupant use, location, and the long-term effect of buildings on the environment. Joining BD+C's John Caulfield to discuss this topic are two experts from the Boston-based CBT Architects: Kishore Varanasi, a Principal and director of urban design; and Devanshi Purohit, an Associate Principal.
Multifamily Housing | Jul 14, 2022
Multifamily rents rise again in June, Yardi Matrix reports
Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi® Matrix Multifamily Report.
Building Team | Jul 14, 2022
Austin PBS gets a new state-of-the-art facility with three studios
Since the 1970s, Austin PBS, birthplace of the Austin City Limits TV series, has been based inside the communications building on the University of Texas campus—a space it has long outgrown.
Building Team | Jul 13, 2022
The YIMBY movement emerges as valuable advocate for affordable housing
Over the past few decades, developers grew accustomed to nothing but staunch opposition to dense affordable housing project proposals.