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Construction as an industry comprises six to nine percent of the gross domestic product of developed countries.Construction Industry is the base of the world economy and this is achieved through the construction of residential and commercial properties, bridges, tunnels, roads, railway tracks, airports, etc. Infrastructure is a life breath of any nation as it provides strong base for the growth of others sectors of an economy. For building huge infrastructures, machineries both heavy and light are necessary. Construction machineries like cranes, loaders, dumpers, excavators, mixers, crushers, etc. are serving the purpose very well. The construction industry is huge, and diverse, and has a tremendous impact upon the economies of the companies around the world. Construction companies are in business to earn a profit, and those who supervise construction work have an enormous impact on the profitability of construction work. Competition is intense and risk is high in the construction industry; but there are tremendous rewards for those who can manage in such a way as to be successful. There are a variety of people who comprise the construction team on projects: owner, architect, engineer, consultant, construction manager, prime contractor, subcontractor, sub‐subcontractor, materials suppliers. Effective supervisors, those who can consistently fulfill project objectives in the complex and demanding environment of the construction industry, have a bright and rewarding future in the industry. Construction Industry is one of the most booming industries in the whole world. The whole process of construction can be divided into various segments like
Construction Industry is one of the most booming industries in the whole world. This industry is largely an urban based one which is concerned with the preparation as well as the construction of real estate properties. The construction industry is a booming industry and continues to be a part of the development process, especially in developing countries. With the process of development, migration of people takes place from rural to urban areas. This phenomenon is most significantly observed in the “Asian Tiger” countries, China and India. Thus, the Construction Industry is also on the rise in such countries. Be it a large, small or medium construction firm, everyone is striving for modern technology. The most significant aspect associated with the industry is the increased use of the latest technology for pacing up the work. The construction workplace is no more a labor intensive dull setting. With the importance given to security and infrastructure, job prospects in Construction Industry are increasing day by day. Cutting edge technology is being adopted by the world’s largest industries for leveraging purposes and is mainly used in raising the construction industry’s engineering and design efficiency. Product sales will be increased by healthy economic growth, continuing industrialization efforts, rising population and higher standards of living in developing parts of the world, leading to significant increase in construction spending. Growth is also expected to be strong in Iran, Malaysia, Indonesia, Ukraine, Turkey, Poland and South Africa, China, India, Mexico and Russia will register some of the largest sales increases. On the other hand, the world is seeing a boom in the construction sector. This is due to the government’s initiative in developmental facilities expansion. Economic upsurge has also generated increased demand generation in the real estate sector. Construction Industry in the world is rising at a phenomenal rate of 8 to 9% p.a. The prospects attached with the industry of construction machineries has attracted the attention of many global manufacturers and exporters. In recent years producers of both heavy and light machines have performed very well both in the domestic and the world market. The reforms of the governments and the trade pact with the neighboring countries have also contributed to the growth of construction machinery industry to a larger extent. With the continuation of the development process especially in the developing countries, construction Industry is indeed a growing industry. With the process of development, the migration of people takes place from the rural to urban areas. This is most significantly observed in the “Asian Tiger” countries, Indian and China . Thus, the Construction Industry is also on a rise in such countries. The repairing of any existing building or making certain alterations in the same also comes under Construction Industry. This industry can be categorized into three basic categories namely :-
The engineering and construction industry plays an integral role in building the future of the modern world amidst a number of potential obstacles such as material price volatility, talent shortages, and the rapid pace of technological change. Construction starts with planning, design, and financing; it continues until the project is built and ready for use. Large-scale construction requires collaboration across multiple disciplines. A project manager normally manages the job, and a construction manager, design engineer, construction engineer or architect supervises it. Those involved with the design and execution must consider zoning requirements, environmental impact of the job, scheduling, budgeting, construction-site safety, availability and transportation of building materials, logistics, inconvenience to the public caused by construction delays and bidding. Large construction projects are sometimes referred to as megaprojects. |
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