OCTOBER 2023CONSTRUCTIONBUSINESSREVIEW.COM6In the realm of construction, the foundation serves as the bedrock upon which entire structures rest. Yet, this critical element of any building project is far from static. With advancements in technology, shifts in construction trends, and evolving environmental considerations, the construction of foundations has undergone significant transformation in recent years.The global foundation construction services market is expected to reach US$ 2726.2 million by the end of 2023 and US$ 3500 million by 2033 at a compound annual growth rate of 2.5 percent. The growth is attributed to factors such as an ageing infrastructure in developed countries, a rise in natural disasters, and the real estate market's expansion.A foundational approach that is gaining traction recently is the pier and beam foundation. It is highly regarded for its unique feature, which provides easy access for maintenance and repair work, particularly for electrical and plumbing systems situated beneath the structure. This design typically incorporates an underground reinforced concrete footing, which serves to anchor the entire foundation to the ground, effectively mitigating the risks of movement, especially in areas with unstable or volatile soil conditions.The field of construction is witnessing remarkable advancements in the development of self-healing concrete. This innovative material holds the potential to significantly extend the lifespan of building and bridge foundations. The key attribute of self-healing concrete lies in its ability to prevent corrosion over extended periods.This edition of Construction Business Review delivers a bird's-eye view of recent developments in the foundation construction arena and insights into how organizations align with these trends and adopt lucrative ways to bring the futuristic vision of foundation construction to fruition.We have curated thought leadership articles from industry experts, including Tom Bartosik, Project Manager at Atwell and Cody Whitelock, Virtual Construction Manager at Barnhill Contracting Company.We also took a deep dive into market trends to narrow down the list of companies delivering unparalleled foundation construction services. Equipped with innovative technological capabilities, companies like Acculevel and SMARTCRAWL help transform businesses at the cloverleaf of various disruptive technologies.We hope this edition of Construction Business Review on Foundation Construction helps you build the partnership you and your organization need to foster an environment driven by efficient technology.Let us know your thoughts.From Bedrock to BreakthroughsEDITORIALCopyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Editorial StaffDavid VincentFred SmithKevin DavisFredrick GallowayJames FerrerRose D. WilsonManaging EditorRobert MathewsDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOsVisualizersJames D. PhillipsRobert MathewsManaging Editoreditor@constructionbusinessreview.comOctober - 29 - 2023, Vol 03 Issue 27 (ISSN 2835-9429)Published by ValleyMedia, Inc.To subscribe to Construction Business ReviewVisit www.constructionbusinessreview.com Email:sales@constructionbusinessreview.comeditor@constructionbusinessreview.commarketing@constructionbusinessreview.com
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