In 2000, I wrote that the number of existing general contracting enterprises would be reduced by 20% by 2020. Recently, I started to update my research for the years 2003 to 2012. At first, it looked like I was wrong because, leading up to 2008, mergers and acquisitions slowed. However, the recession brought changes.
From 2008 to 2012, the entire construction industry shrank by 19.6%. During the slowdown, larger general contractors held on to more market share than smaller ones. ENR's top 100 contractors declined only 14.5%, and the top 300 dipped only 16.1%. This means the remaining businesses shared less of the market, getting disproportionately smaller while the largest businesses captured more market share.
 |
| SCHLIEFER |
Historically, the construction industry had been an exception because the amount of construction provided by large and other publicly traded corporations has been minor compared to that put in place by more than a million separate and independent small to mid-size contractors. However, in the past three decades, that trend has reversed itself—a sign the industry is consolidating. The design portion of the industry already has consolidated a great deal.
过去，建筑行业的成功要求罕见的才能，包括召集资源的能力。提前对工作进行准确的价格；通过漫长而艰巨的过程管理劳动力，分包商和供应商；并容忍高度的风险。只要他们的投标方法和单个工作项目的成本，该品种的承包商都取得了巨大的成功。18luck.cub
Demystified Processes
All that has changed. New technologies and wide access to information have demystified the processes of estimating, organizing and producing the work, resulting in construction services being perceived as a commodity. This development led to a belief that there was negligible difference among construction enterprises and fostered less concern over which contractor was selected.
Fifty years ago, construction was a custom effort with double-digit profit margins that compensated for inherent inefficiencies. Margins have slipped into the mid- to low single digits and even lower for larger contractors. Structurally altered margins are unlikely to return. Construction has become increasingly standardized, with efficiency and productivity the major differentiators among competitors. Economies of scale and standardized processes help lower costs and tighten schedules, which gives larger companies an advantage over small and midsize contractors.
大型公司的利润率与小公司相同，但是它们的规模使他们能够投资于生产改进，以满足所有者的转移需求。由于持续改进是经商的必要成本，因此合并对于某些承包商的生存至关重要。例外是利基玩家，往往是小而不是中型承包商。专业承包商的利润率相对较高，直到整合变成全油门。中小型公司可能会通过共同努力来尝试匹配较大规模的效率，但他们的机会之窗很小。
随着恢复的工作增加，持续的低利润率将对中型企业而不是更大的公司施加压力。这种趋势加速了整合，以至于盈利，管理良好的中型组织可能具有成功的选择限于为利基市场服务或成为大型组织的一部分。
托马斯·施莱弗（Thomas C.。可以通过tschleifer@q.com与他联系。
