NAICS 23891 - Site Preparation Contractors
This industry comprises establishments primarily engaged in site preparation activities, such as excavating and grading, demolition of buildings and other structures, septic system installation, and house moving. Earth moving and land clearing for all types of sites (e.g., building, nonbuilding, mining) is included in this industry. Establishments primarily engaged in construction equipment rental with operator (except cranes) are also included.
Industry trends:
The site preparation contractors industry (NAICS 23891) has been experiencing several significant qualitative trends. A major trend is the increasing adoption of advanced technologies such as Building Information Modeling (BIM) and Geographic Information Systems (GIS). These technologies enhance accuracy in planning and executing projects, leading to increased efficiency and cost reductions. Additionally, there's a growing emphasis on sustainable and environmentally friendly practices. Contractors are increasingly using eco-friendly materials and machinery that reduce the carbon footprint.
Labor shortages are another significant trend impacting the industry. The demand for skilled labor continues to outstrip supply, pushing companies to invest in training and development programs. This has also led to higher labor costs, impacting overall project budgets.
Looking forward, the site preparation contractors industry is expected to see growth due to increased infrastructure spending by governments worldwide. There is also an anticipated rise in private sector investments in residential and commercial construction. However, the industry may face challenges such as regulatory changes and fluctuating material costs. Companies that innovate and adapt to these evolving trends are likely to stay competitive and thrive in the near future.
This industry is comprised of:
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- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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