The engineering and construction industry has been suffering from various headwinds, including surging raw material costs, labor shortages, and deepening supply chain issues aggravated by the Russia-Ukraine war. This has led to major selloffs over the past few months. However, this industry is expected to grow significantly this year, driven by a rise in spending on construction projects.
The engineering and construction industry is preparing for a major shift toward connected construction capabilities by increasing its investments in digital. Furthermore, the Infrastructure Investment and Jobs Act should drive growth for engineering and construction companies over the long run.
