2021 engineering and construction industry outlook


2022 energy, resources, and industrials industry outlook reports

Annual perspectives on sector trends

Our industry outlook collection, covering oil, gas, and chemicals; power, utilities, and renewables; and industrial products and construction, evaluates sector landscapes and can help executives better plan for success and unforeseen challenges.

Looking ahead at the trends for 2022 with cautious optimism

As 2021 comes to a close, we are seeing optimism and expectations for growth across the energy and industrials industries, following the downturn in 2020. But this optimistic outlook is also marked by caution, as labor shortages, supply chain disruptions, and high costs continue to challenge companies across the industrial and energy sectors.

Even as people return to work, there are challenges regarding workforce shortages: the first in terms of open positions going unfilled, and the second in terms of a growing skills gap as new technologies are incorporated into the workplace. In the oil and gas industry, more than 100,000 jobs were lost in 2020, and 50% of those positions remain open. In manufacturing, job openings hover near all-time highs at over 800,000. And six in ten engineering and construction companies report suffering from workforce shortages. Compounding this shortage is the growing need for a workforce increasingly skilled in programming, data analytics, and data science. Furthermore, the need for these new skill sets places industrial and energy companies in competition with technology and other industries for this talent.

Pervasive supply chain challenges are another pressure point across these industries as 2021 concludes. Companies in the renewables industry are seeing rising costs for many renewables components for the first time in several years due to raw materials shortages, labor shortages, and increased shipping rates. The E&C industry and manufacturing companies are also feeling the pain of delays resulting from these factors. As a result, growing attention is being paid to building domestic supply chains and manufacturing capabilities, and policies such as the recently approved Infrastructure Investment and Jobs Act of 2021 may advance these efforts. These pain points may become less acute in the coming months, and Deloitte’s 2022 outlooks detail the inflection points that could help determine the trajectory across the energy and industrial sectors.

Read our 2022 energy, resources, and industrials industry outlooks to explore the trends and critical business issues of your sector:

Oil and Gas industry outlook

How oil and gas companies are fueling reinvention

The oil and gas industry has rebounded strongly throughout 2021, with oil prices reaching their highest levels in six years. While the industry’s recovery is better than expected, uncertainty remains over market dynamics in the coming year. Our 2022 outlook explores five trends that will shape the path forward for oil and gas companies.

Chemical industry outlook

On track for a strong recovery

The chemical industry has witnessed a strong recovery since the beginning of 2021, and 2022 could mark the full recovery for the industry prepandemic. From sustainability to consumer-centricity, our annual outlook explores five trends that will be top of mind for chemical companies in the year ahead.

Manufacturing industry outlook

Eyeing growth despite turbulence

The manufacturing industry is building back fast, undeterred by significant labor and supply chain challenges. To maintain this momentum, manufacturers should navigate elevated risks while advancing sustainability priorities. Our 2022 outlook explores five manufacturing industry trends that can help organizations turn risks into advantages and capture growth.

Engineering & Construction industry outlook

Preparing for another strong year

The engineering and construction industry has made a significant recovery from the 2020 recession, but it has also experienced multiple headwinds that are expected to persist. 2022 should be another rewarding—but challenging—year, and the industry looks to be poised to capture growth opportunities.

Power and Utilities industry outlook

The clean energy transition powers on

In 2022, the electric power industry will continue forging a path to a cleaner, more reliable, and resilient grid. While today’s challenges will likely persist, our annual industry outlook explores how digital technologies, market developments, and government investment in next-generation energy technologies can help pave the way.

Renewable energy industry outlook

New avenues are opening

The year ahead promises new growth paths for the renewable energy industry, potentially aided by supportive policies from an administration focused on combatting climate change. Yet, some challenges still linger. Explore how new technologies, business models, policies, and investments could help address these challenges and accelerate growth in our 2022 renewable energy industry outlook.

Did you find this useful?