Heavy Engineering Construction in New York
Overall, despite significant historical volatility, over the five years to 2017, industry revenue has been increasing. It is important to note that due to the size of certain projects, industry revenue can fluctuate drastically as projects are tendered or taken off line. Amid general economic volatility during the period, the sources of revenue for several industry projects have reshuffled. Companies are seeking to expand their product offerings, cut operating costs and increase operational efficiencies. Over the five years to 2022, industry revenue is expected to grow, supported by an increase in state and local government expenditure by New York State.
Operators in this industry are primarily engaged in heavy 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.