
United States of America (USA) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027
Description
United States of America (USA) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027
Summary
The construction industry in the US is expected to grow only by 1% in real terms in 2023, performing better than previously anticipated, with a pickup in construction recorded in recent months. High interest rates have dampened overall investment growth, particularly in the residential sector, but construction in the infrastructure, energy and utilities, and industrial sectors has been buoyant. Government spending and fiscal incentives schemes have been a key factor in supporting construction activity, with the Infrastructure Investment and Jobs Act (IIJA), the Inflation Reduction Act of 2022 (IRA), and the CHIPS and Science Act. As of mid-December 2023, the government had announced $256.2 billion in transport development projects, including roads, bridges, public transport, ports, and airports. The outlook is fairly promising. Following growth of 2.7% in 2024, the industry's output is expected to grow at a 4% annual average rate in 2025-27, aided by investment in the energy, transportation, housing, and manufacturing sectors. In October 2023, the government announced $7 billion in IIJA funding to build seven regional hydrogen hubs across Appalachia, California, the Midwest, the Gulf Coast, the American heartland, the Mid-Atlantic, and the Pacific Northwest. In addition, in December 2023, the Federal Railroad Administration (FRA) announced that it had awarded $8.2 billion for ten passenger rail projects across the country, which will be diverted to ten projects in nine states that are ready for construction and 69 corridors in 44 states that have been identified for future development. Furthermore, the US Department of Energy (DOE) has set aside $3.5 billion for 58 projects spanning 44 states aimed at improving the resilience and reliability of the nation's electric grid by 2027.
The report provides detailed market analysis, information, and insights into the US construction industry, including -
- The US construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the US construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in the US. It provides -
- Historical (2018–2022) and forecast (2023–2027) valuations of the construction industry in the US, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
- Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
84 Pages
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Construction in Key US States
- 5.1 California
- Outlook
- Latest news and developments
- 5.2 Florida
- Outlook
- Latest news and developments
- 5.3 Texas
- Outlook
- Latest news and developments
- 5.4 New York
- Outlook
- Latest news and developments
- 5.5 Pennsylvania
- Outlook
- Latest news and developments
- 5.6 Georgia
- Outlook
- Latest news and developments
- 5.7 Illinois
- Outlook
- Latest news and developments
- 5.8 Ohio
- Outlook
- Latest news and developments
- 5.9 Washington
- Outlook
- Latest news and developments
- 5.1 North Carolina
- Outlook
- Latest news and developments
- 6 Key Industry Participants
- 6.1 Contractors
- 6.2 Consultants
- 7 Construction Market Data
- 8 Appendix
- 8.1 What is this Report About?
- 8.2 Definitions
- 8.3 CRI Methodology
- 9 About GlobalData
- 10 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: The US, Key Economic Indicators
- Table 3: The US, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: The US, Top Commercial Construction Projects by Value
- Table 5: The US, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: The US, Top Industrial Construction Projects by Value
- Table 7: The US, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: The US, Top Infrastructure Construction Projects by Value
- Table 9: The US, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: The US, Top Energy and Utilities Construction Projects by Value
- Table 11: The US, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: The US, Top Institutional Construction Projects by Value
- Table 13: The US, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: The US, Top Residential Construction Projects by Value
- Table 15: California, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 16: California, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 17: California, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 18: Florida, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 19: Florida, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 20: Florida, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 21: Texas, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 22: Texas, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 23: Texas, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 24: New York, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 25: New York, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 26: New York, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 27: Pennsylvania, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 28: Pennsylvania, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 29: Pennsylvania, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 30: Georgia, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 31: Georgia, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 32: Georgia, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 33: Illinois, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 34: Illinois, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 35: Illinois, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 36: Ohio, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 37: Ohio, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 38: Ohio, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 39: Washington, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 40: Washington, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 41: Washington, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 42: North Carolina, Construction Output by Sector (Nominal $ Billion), 2018–27
- Table 43: North Carolina, Construction Output by Sector (Real, $ Billion, 2017 Prices), 2018–27
- Table 44: North Carolina, Construction Value-Add by Main MSAs (Real, $ Million, 2012 Prices), 2018–22
- Table 45: The US, Key Contractors
- Table 46: The US, Key Consultants
- Table 47: The US, Construction Output Value (Real, $ Million)
- Table 48: The US, Construction Output Value (Nominal, $ Million)
- Table 49: GlobalData Construction Market Definitions
- Table 50: Risk Dimensions
- Table 51: Ratings, Scores and Definitions
- List of Figures
- Figure 1: North America, Construction Output (Real % Change), 2021–27
- Figure 2: The US, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: The US, Risk Summary
- Figure 4: The US, Risk Regional Comparison
- Figur
Pricing
Currency Rates
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