In 2023, the construction industry saw significant developments, such as a downward trend in the commercial real estate market, a continued focus on sustainability, and the ongoing impact of the Infrastructure Investment and Jobs Act. International construction arbitration remained a preferred dispute resolution method for large-scale projects, while the energy industry prioritized safety, reliability, and compliance with clean energy directives, leading an increase in energy construction and public-private partnerships.
Looking ahead, the industry faces challenges from ongoing inflation and supply chain disruptions, causing budget uncertainties and potential disputes. The trend toward sustainability and green buildings continues, with regulations such as New York City’s Local Law 97 mandating emission cuts from 2024.
Troutman Pepper’s Construction Practice Group, recognized by Law360, Construction Executive, Chambers USA, The Legal 500 United States, and U.S. News – Best Lawyers® “Best Law Firms”, continues to provide expert counsel on complex construction projects and disputes. Read our full report here.