With the rise of smart cities and the president-elect’s proposed 10-year $1 trillion infrastructure plan, cold-formed steel framing will increase in 2017, according to Thompson Research Group.
The study says cold-formed steel framing offers a wide range of features and benefits that all contribute to shorter construction times, lower material costs, safer structures and faster revenue generation. Steel is strong, safe, durable, versatile and cost-effective.
The study also notes non-residential construction is nearing what historically would be considered a peak, but forward momentum is still present as the recovery follows a long shallow, multi-year growth trend.
Those surveyed report that bottlenecks in the construction process, including labor and material shortages, and overly selective contractors who refuse projects, affect all segments of the market. Permitting also remains an issue, with project delays ranging from three to six months because of the inability to obtain a permit on time.
With the adaptation of new technology, the hope is to eliminate the delays and increase the project flow. Almost half of contractors reported increased bidding activity, predominantly in healthcare, education and data centers.
Additionally, the infrastructure dollars related to a potential federal stimulus plan would provide an upswing in 2018 and 2019. The swift introduction of the plan will supply the trickle-down effect for the industry.