Market Insight - Key Success Factors for Contractors and Sub-Contractors in the Global Construction Market
MarketResearchReports.biz has added a new market intelligence report to its elaborate database on the construction industry. The report, titled “Market Insight - Key Success Factors For Contractors And Sub-Contractors In The Global Construction Market,” provides insights into the global construction market from the perspective of growth and opportunities for all contractors and sub-contractors involved. The report concludes on the trends that influence this market while pinpointing certain areas that can be classified as strengths, weaknesses, opportunities, or threats.
The report of 40 pages provides key insight into the global construction market based on surveys conducted on multiple project owners and the various categories of contractors in terms of their opinions and performance.
184 project owners have been surveyed for this report, including contractors and sub-contractors, from 2015 Q4. This survey was conducted to create a better understanding of the major influential factors acting on the global construction market.
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The report takes three factors as the top factors to be considered while choosing a main contractor. These factors are delay resolution, quality of work, and work on time. All three factors are important when it comes to displaying the work quality of the project owners in the global construction market. The three are different as the report goes through different regions.
Asia Pacific, Europe, and the Rest of the World all use the above factors as the top three major ones, changing only in priority. The North America construction market considers safety as the top concern, above the given three factors.
The report’s executive summary discusses the superficial factors affecting the global construction market, such as the increasingly sophisticated methods employed to select contractors, the determination of safety as a primary factor, the growing pressure of maintaining punctual work processes, and the overall role of quality of output and its effect on the market’s differentiators.
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The choice of main contractors in the global construction market is made over multiple considerations. At the top of the list of factors that determine whether a contractor is efficient or not is the punctuality of the work. Most project owners have ranked working time as the topmost factor while choosing a main contractor. Other factors include regional influences, such as the importance of safety in North America, or the manner in which company size can matter in terms of delay resolution.
On the selection of sub-contractors, the main contractors consider quality assurance as a key determining factor. Other factors, especially in North America, include the importance of safety and quality of work. The size of the company is also considered while looking from the perspective of innovativeness. Another factor influencing the choice of sub-contractors is the flexibility of payments.
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