What can the industries we service expect in 2022? Construction, mining, warehousing and industrial.
As we say goodbye to 2021, it’s time to look forward to 2022 and what that means for the industries we all work in. Of course, if the last two years have taught us anything it is to be prepared for anything, and expect nothing. However, global pandemics aside (although the cause of some forecast insights), there are trends and movements within the construction, mining, warehouse and industrial sectors that are likely to take place. Some minor, some major. All of them are pretty exciting if industry growth puts a smile on your dial.
To sum up the 2022 forecast for construction in one word, it’s: busy. The latest from the Australian Construction Industry Forum (ACIF) predicts that the building and construction market is ‘bouncing back’ and that its growth will exceed expectations. Although construction was dealt some harsh blows in 2021, its ability to quickly control the situation and recover has meant that, on the whole, it’s primed for growth. In fact, the estimate is 2.7% up in projects, creating $243b in revenue. Not bad, ‘ey.
With a new variant creating some hurdles, it’s hard to say how it’ll pan out for employment. But, employment in this industry is expected to exceed the 1.2m job numbers from this year. Why? People need stuff built, and that’s the crux of it. For residential, ‘home’ has never been more important and commercial and development are continuing to thrive; commercial spaces revamping and implementing more innovative layouts, and development (particularly in regional and rural areas) are set to continue growth as people leave city dense areas.
For a long time, mining has been a big contributor to the Australian economy (making up around 11%), and the supply chain issues with offshore exporting threatened the stability of the industry. But, it held steadfast as they were deemed an essential service. While some resources were, and remain, stronger than others, the industry is set to grow in 2022.
According to the Australian leg of the International Business Survey (AIBS), the industry is tracking better financially this year than this time last year. And, 64% of mining companies are expecting to be better off again this time next year (17% expecting to retain the current financial stability).
For workers in the industry, this is good news for job stability and planning for your future in a sustainable way. FIFO might still be hit with isolation periods, depending on how this Omicron business pans out. So we’re keeping our ear to the ground on that one. It’s our great hope that mining workers can restore a semblance of normalcy on the personal life front, given the precious bouts of time spent away from work.
Warehousing and industrial
There’s no denying supply chain issues will be a big topic in the industry and in the media over 2022, creating more demand for onshore solutions. Enter: warehouse sector. Recent reports indicate that warehousing is trumping the housing market for soaring growth and will see gross demand continue well into 2022 and even 2024.
It will be difficult to tell, though, how the supply chain will fare as the industry faces offshore decisions and pivots along the way. What we’re unlikely to see, though, is a drop in revenue for warehousing and industrial industries and, at most, see a retaining of the current status quo.
So, if the news of 2021 got you feeling a bit down, there’s a lot of hope coming out of the 2022 forecast, and we’re here to support you all the way.
For us, it’s about finding the silver lining and working with change as much as possible. If you have any questions regarding how All Lift can support you through the next year, call us and talk to our friendly team.