Heavy Engineering Construction in Florida
Over the past five years, rising demand from private nonresidential construction markets has bolstered revenue for the Heavy Engineering Construction industry in Florida. The value of private nonresidential construction in Florida has accelerated over the past five years, while local and state government expenditure in Florida has increased as well, boosting demand from the public projects market segment. Industry revenue has been bolstered over the past five years by surges in mass transit and port and harbor facility construction, particularly. Over the five years to 2022, the industry is expected to continue to expand. Growth is anticipated to be driven by an acceleration in state and local government expenditure, as well as increased levels of private investment moving forward.
Operators in this industry are primarily engaged in heavy and engineering construction projects, with the exception of highway, street, bridge and airport construction. Work performed includes new work, reconstruction, rehabilitation and repairs. The industry also includes specialty trade contractors, if they are primarily active in activities related to engineering construction projects. Construction projects include waterworks, marine facilities development and open space improvement.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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