Construction Services Procurement Intelligence

In this construction services procurement intelligence report, we have estimated the pricing of the key cost components. Raw materials, labor, machinery, equipment, transportation, office rent, and legal charges are some of the key cost components of construction services. The cost of the services is primarily dominated by labor charges which account for 40%. Costs such as employee wages, benefits, training, and overtime are included in labor charges. Construction cost estimation is the most important part before starting any construction project. Both builders and clients share concerns regarding the financial repercussions of cost overruns and project incompletions. Consequently, they invest significant time and effort in estimating the project cost before making any decisions to proceed. When contemplating substantial projects, clients frequently seek various cost estimates from contractors as well as independent estimators to ensure comprehensive evaluations. The cost of construction can differ significantly based on the location, where urban structures may incur costs that are 2% to 6% higher compared to those in suburban regions globally.

Order your copy of the Construction Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Operational Capabilities - Construction Services

• Industry Served - 20%
• Revenue Generated - 15%
• Employee Strength - 15%
• Geographical Service Provisions - 15%
• Key Clients - 15%
• Certifications - 10%
• Years in Service - 10%

Functional Capabilities - Construction Services

• Pre-Construction Services - 25%
• Construction Services - 25%
• Post-Construction Services - 25%
• Specialized Services - 25%

Rate Benchmarking

When analyzing rate benchmarking of construction services, the type of property to be constructed, location, and services provided play a crucial role. In our study, we have analyzed the rate of different properties in countries such as the U.S. The rate of the home was around USD 348,079 in 2022. The rate of commercial properties has been on the rise due to increasing demand for office space. In Q1 2023, the average price of U.S. offices was around USD 38/square foot. The price of retail was on an average of USD 18.09/square foot.

In Japan, Retail prices in 2022 experienced a downward trend, whereas Office and Apartment prices witnessed an upward trend. Regionally, the price changes showed a similar trend to the nationwide change. Notably, Office prices in Tokyo, including suburbs, exhibited a significant increase of 12.5% in 2022 compared to the previous year.

According to the Office of National Statistics report, over the span of 12 months until March 2023, the average house prices in the UK experienced a 4.1% growth, marking a decline from the 5.8% rise observed in over the span of 12 months until February 2023.

Supplier Newsletter

• In July 2023, Trillium a construction service company acquired American Craftsmen a construction staffing firm. This will help Trillium in expanding its presence in Pacific Northwest.
• In May 2023, Apollo, an American private equity firm, acquired United Living, a social housing maintenance and construction service company. The acquisition would help them to strengthen their capabilities in infrastructure and social housing.
• In March 2023, Sensat, a construction digital twin company, developed an integration along with Autodesk Construction Cloud to enable construction teams to send files from Autodesk Docs to Sensat for user visualization of key construction documents.
• In December 2022, The project management consultancy for TROJENA, a mountain destination located in the NEOM region of Northwest Saudi Arabia, was assigned to Bechtel Corporation. 

List of Key Suppliers

• Bechtel Corporation
• Fluor Corporation
• DPR Construction
• Kiewit Corporation
• STO Building Group
• The Walsh Group
• Skanska
• Clark Construction Group, LLC
• AECOM
• Holder Construction Group, LLC 

Browse through Grand View Research’s collection of procurement intelligence studies: 

• Disposable Medical Gloves Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Cyber Security Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Lab Equipment Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Commercial Real Estate Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape) 

Construction Services Procurement Intelligence Report Scope 

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to): 

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions