Last Updated on May 24, 2021 by Admin
Construction is a general term meaning the art and science to form objects, systems, or organizations and comes from Latin and Old French construction. To construct is the verb: the act of building and the noun is construction: how something is built, the nature of its structure. Here we have discussed the construction industry.
What is the Construction Industry?
The branch of manufacture and trade is based on building, maintaining, and repairing structures. It includes drilling and solid mineral exploration.
Houses, apartments, factories, offices, schools, roads, and bridges are only some of the products of the construction industry. This industry’s activities include building new structures, including site preparation and additions and modifications to existing ones.
The construction industry broadly categorized into three main categories;
Building Construction Industry: All general contractors and operative builders primarily engaged in constructing residential, farm, industrial, commercial, or other buildings. (Definition Source: Standard Industrial Classification)
Heavy Construction Industry: All general contractors primarily engaged in heavy construction other than building, such as roads and highways and streets, bridges, sewers, railroads, irrigation projects, flood control projects, and marine construction.
The aforementioned includes special trade contractors primarily engaged in activities not usually performed on buildings, such as highway grading or underwater rock removal. It does not include special trade contractors primarily engaged in building activities (see Construction-Special Trade Contractors). (Definition Source: Standard Industrial Classification)
Special Trade Construction Industry: All special trade contractors who undertake activities of a type specialized in building construction, including work on mobile homes or building and nonbuilding projects. It includes tasks such as painting, electrical work, plumbing, etc.
This does not include activities specialized for heavy construction (see Heavy Construction Other than Building Construction — Contractors). (Definition Source: Standard Industrial Classification).
Apart from the above main categories, the construction is also categorized into four types: residential building, institutional and commercial building, specialized industrial construction, infrastructure, and heavy construction.
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Construction Industry Overview
The construction industry produces a wide range of products, and the enterprises are equally diverse. However, the vast majority of enterprises involved in on-site construction are small and local. Despite globalization and the existence of the international construction industry, the majority of construction activity is still undertaken by local firms.
There is a tendency among enterprises in construction (as in other industries) to outsource the supply of goods and services required in the production process. Building materials, plants, and equipment are generally purchased or hired from other enterprises. Subcontractors and labor by labor agents supply specialized services. Separate professional entities also provide design and engineering services.
Construction is a high hazard industry that comprises a wide range of activities involving plans, design, constructs, alteration, maintenance, repairs, and eventually demolishes of buildings, civil engineering works, mechanical and electrical engineering, and other similar works.
There have been technological changes in the industry, notably the increasing use of environment-friendly technologies. There is a need for skills training for workers and managerial training for enterprises to adapt to such changes.
The decentralization of government activities related to construction brings new demands for local authorities involved in many construction activities through direct administration and contracting private enterprises. Following, there is a need to build the capacity of local authorities regarding labor issues in construction.
The construction industry generates jobs for large numbers of people. Labor conditions vary widely throughout the world.
Importance of the Construction Industry
The importance of the construction industry in the economy of any country derives from the following factors.
- The scale of the construction industry
- Private Finance Initiative
- Health and safety
Career in Construction
From Civil engineering to structural engineering, construction is a massive sector with a large mixture of job roles. If you’re a practical person and interested to know how things work, construction could be the industry for you. Check this list of the best job profiles in the construction industry to kick-start your career in the construction industry.
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In India, to start your career in the construction industry, you need to have finished at least your secondary schools’ certificate exam (10th).
For the Trade Technician/ Skilled Technician: 10+ ITI Course
For Engineer/ Sr. Engineer: BE/B.Tech Engineering Degree in Civil Engineering or from any other Branch.
For Managerial Positions: Post Graduate in Construction Management or similar Programme.
Job Opportunities in 2021
India’s Union Budget 2021 – 22 has given a significant boost to the country’s beleaguered construction industry with a planned capital expenditure of US$75.8 billion, which is an increase of 34.5% from last year’s budget.
With the government focusing on infrastructure to drive economic growth, the construction industry is expected to rebound by 14.5% in 2021, says GlobalData, a leading data, and analytics company.
As reported by Mint, the second wave of the pandemic in the country is likely to have a ‘short-term setback’ primarily affecting the blue-collar jobs and the gig or temporary workers, especially in the retail, hospitality, aviation, and construction industry to a Michael Page report.
As India’s economy tried regaining its footing earlier this year, the number of job opportunities rose 32 percent during January-March 2021 compared to the preceding December quarter, hinting towards an economic revival in the country, the report by global recruitment specialist Michael Page.
We are hopeful for the second half of 2021 for a speedy recovery in the construction sector and optimistic about the job opportunities.