EC&M On Air 2025 Construction Forecast with Jim Lucy of Electrical Wholesaling
Jan 28, 2025
Jim Lucy, Editor-in-Chief of Electrical Wholesaling, dives into the 2025 construction forecast. He highlights hot and cool markets, mega projects on the horizon, and the impact of political shifts on the industry. Lucy discusses how federal funding uncertainties affect infrastructure and EV projects, alongside trends in contractor consolidation. He explores the fluctuating prices of key materials like copper and steel and emphasizes the rising importance of app-based lighting technologies and the renewable energy sector for future opportunities.
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Localized Markets
- Construction markets are highly localized, with some booming and others struggling.
- National forecast shows 2% non-residential growth, but certain markets are significantly hotter.
Mega Projects and Renovation
- Mega projects like data centers and EV plants are driving growth, but may obscure underlying trends.
- Renovation work offers opportunities for contractors of all sizes due to changing office needs and new technologies.
Interest Rates and Residential Construction
- Interest rates are expected to remain tolerable, driving construction activity.
- Single-family home construction thrives in Sun Belt markets but lags in the Northeast and Midwest.