This Year in Construction
Equipment World recently reported that Dodge Construction Network — a major source of statistics in the modern-day construction industry — is forecasting a 6% rise in construction starts in 2022.
This rise will mark 2022 as the new peak year for new construction projects, surpassing the previous peak year of 2019, when construction starts were valued at a combined total of $861 billion.
2020 saw a decrease in starts by 7% due to complications arising from the pandemic, and 2021 saw a rebound in construction starts by a dramatic 12%. While Dodge estimates that 2022 will only see half as much growth as 2021, the total amount of money that will be spent on starts in 2022 is an estimated $946 billion.
There has also been a shift towards building warehouses over other commercial buildings over the past year which is expected to continue into 2022, as detailed in sources like Construction Equipment Guide. According to Yahoo! Finance, experts at PCL Construction anticipate more innovation in sustainable engineering. This trend will result in more investment in solar power and liquid cooling technology for data centers.
One thing seems certain: industry experts are largely expecting greater investment and activity in construction nationwide throughout the next year.
Introducing Compass Auctions & Real Estate
Compass is a full-service auction and real estate company headquartered in Chattanooga, Tennessee. We are proud to serve our local community by providing sought-after goods at auction on a weekly basis, all year round.
“We provide a dual-platform solution,” said Chris Wood, the General Sales Manager at Compass. “We provide auctions where construction companies can turn their current inventory into some quick cash, allowing them to purchase and upgrade with new equipment, while also allowing them the opportunity to find something that they need now.”
We are prepared to help our local community brace for this uptick in construction jobs by providing heavy equipment at auction. Compass welcomes anyone interested in bidding on our equipment to visit our warehouse in-person to inspect our goods at auction.
“Realistically, auctions help people to move quicker,” Wood said. “People who are out there searching for heavy equipment usually have to wait a month or two to try to get what they need. We have more of a selection, and our bidders have the ability buy sooner than they would at a lot of other places.”
Heavy Equipment at Auction
One of our main auction categories at Compass is heavy equipment, which is consistently brought to auction throughout the year. Always be sure to view our Monthly Day 1 Auction catalogs for a chance to bid on our selections of heavy equipment.
You can currently find heavy equipment like a Caterpillar backhoe loader and skid-steer, Hyster and Hyundai forklifts, an IHI mini excavator, a Genie boom lift, John Deere and New Holland tractors, and more, all in Day 1 of December’s Monthly Auction.
Register & Bid Today
Pre-bidding is currently available for Day 1 of December’s Monthly Auction, which is scheduled to begin closing on December 29th at 10 am Eastern Time.
Visit our Auction Calendar page to learn more about all our current and upcoming auctions.
For more information, email Info@SoldOnCompass.com or call 800-729-6466.