Advances in technology, workforce shifts and shortages, as well as increasing global competition concern construction industry leaders on both sides of the Atlantic, according to the Key Trends in the European and U.S. Construction Marketplace SmartMarket Report. The McGraw-Hill Construction document also emphasizes the driving influence of governance and legislation, environmental pressures, global finance, new procurement methods, and increasing cost of materials. SmartMarket authors explore how those trends are shaping what they cite as an interconnected construction marketplace.

Other major report findings include: 1) emerging and transitioning economies are fast becoming attractive building markets and formidable foreign competitors; 2) materials prices are continuing to escalate, placing a growing pressure on project costs and encouraging the shift to alternative materials; 3) construction industry leaders in Europe and the U.S. share concerns about the global workforce shortage, and they expect the situation to worsen in the next five to seven years; and, 4) green building is growing rapidly in both regions, thanks to supportive legislation, market differentiation, and the growing pressure of global competition. Copies of the report can be ordered through www.analyticsstore.construction.com.