Prospects are good for a strong construction market in 2023 (part two)

Summit Steel Buildings’ president, Darren Sperling, believes there are a number of reasons to be optimistic for industrial construction in 2023.

Read Part One of our construction market analysis.

The necessity of doing more with less

Don’t get me wrong, we’re just at the beginning of our weakening cycle. Fortunately, as the backbone of the economy, construction and the trades remain strong with prospects for continued growth from the backlog of orders coming out of pandemic doldrums. Together we may face the prospect of recession, but it’s going to be unlike any we’ve experienced before. The economic downturn is forecasted to be shorter in duration and smaller in scale than previous recessions.

Obstacles and challenges provide opportunities for innovation and improvement. The pandemic-related disruption has taught the construction industry more than a few lessons to make the supply chain run a little better. Specifically, implementing technology and making smart decisions can sometimes offset the effects of inflation, as can cutting unnecessary costs and operating more efficiently to reduce waste. People are working smarter and becoming more productive with fewer resources.

Summit Steel Buildings had already implemented many of these lessons before the pandemic. By working directly with our manufacturing centres to streamline production and reduce shipping costs, we have ensured a steady delivery of required components and materials. We have implemented new technologies to automate processes and monitor inventory, produce what is needed and avoid waste. By planning ahead and working closely with clients, we can focus on delivering value, effective cost management and ensure a higher standard of delivery.

Summit Steel Buildings also sees the importance of focusing on the marketplace. With an immense shortage of warehousing in Canada, and in places like Toronto and Vancouver in particular, we provide an effective way for industrial manufacturers and wholesalers to enhance their value proposition, increase potential for growth and employ more people. This critical need for logistics construction will remain steady throughout any recession. It’s another reason to be optimistic any recession will be short and constrained.

Read why it's much better to build your own warehouse than to rent and the reasons why warehousing space has never been more critical.

A positive outlook

At a time when many experts are making their forecasts for the year ahead, we remain vigilant that intelligent, lean business practices and maximizing resources to benefit our clients are the best ways to proceed. Staying calm and steady while anticipating the needs of our clients and putting them at the center of what we do each day has been a foundation for our company and will continue to be.

While recessionary clouds have been forming, the storm hasn’t hit us yet. At Summit Steel Buildings, we’re relying on our business experience in weathering previous recessions to remain strong and to continue providing the best commercial and industrial buildings to our clients. It’s our mission to provide the best pre-engineered steel building solutions to suit any purpose at affordable prices with design and engineering that will withstand decades of use.

We look forward to speaking with you and to learn about how we can custom tailor a building investment that will maximize the potential for your operation. Contact us today at 877-417-8335 for a free quote and to get started on initial drawings.