Municipal Building Construction in the US
The Municipal Building Construction industry experienced slow growth over the past five years due to a shortfall in local government investment. Despite a return to economic normalcy, municipal governments have stalled funding for public structures, resulting in a revenue decline during the period. Over the five years to 2021, the industry is expected to experience modest growth. Funding from the public sector is projected to remain tepid as the federal government pursues prudent measures. However, the private sector is forecast to grow and more public-private partnership contracts are expected.
This industry comprises of contractors that are responsible for the complete construction (i.e. new work, additions, alterations and repairs) of institutional buildings, such as schools, hospitals, churches, civic centers and prisons. The industry also includes operators that perform construction management on institutional building projects. Types of operators include general contractors, design builders, engineer-constructors, joint-venture contractors and turnkey contractors.
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.