Municipal Building Construction in the US
Since the Municipal Building Construction industry heavily relies on government investment, it has struggled over the past five years amid diminished tax revenue at the state and local level and declining federal outlays. Over the five years to 2023, industry revenue is expected to decrease. This decline will likely occur due to weakened government investment, driving decelerated growth in the education and healthcare sectors, which have been supporting growth in the industry. Conversely, the value of private nonresidential construction is expected to continue rising and will help to offset industry declines.
This industry comprises 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.
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