Construction in the US – Key Trends and Opportunities to 2022

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

The US construction industry suffered a downturn in 2017, contracting by 1.0% in real terms that year, following an average annual growth of 5.0% during the preceding four years. This decline can be attributed to the slowdown in non-residential buildings construction activity and the decline in the government’s outlay on major infrastructure projects.

The country’s construction industry is expected to record positive growth over the forecast period (2018-2022), driven by the government’s plans to revamp the country’s depleted infrastructure. In addition, public and private sector investments in residential, commercial, healthcare and educational infrastructure construction projects are expected to support growth in the industry over the forecast period.

In February 2018, the White House released its infrastructure initiative, under which the Trump administration seeks to provide US$200 billion in the next ten years to spur a projected US$1.5 trillion in states, local governments and private sector investment to rebuild what Trump called America’s crumbling infrastructure.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.22% over the forecast period, compared to 3.80% during the review period (2013-2017).

GlobalData’s "Construction in the US – Key Trends and Opportunities to 2022", 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.

Key Highlights

– GlobalData expects the residential construction market to retain its leading position over the forecast period, with a share of 46.5% of the industry’s total value in 2022. Market growth over the forecast period is expected to be supported by rising residential buildings permits in the country. The government’s focus on affordable houses is also expected to support the market growth over the forecast period.
– The government’s focus to rebuild and modernize the country’s aging infrastructure is expected to drive infrastructure construction market growth over the forecast period. In February 2018, the White House released its infrastructure initiative, under which the Trump administration seeks to provide US$200 billion in the next ten years to spur a projected US$1.5 trillion in state, local governments and private sector investment to rebuild US infrastructure.
– Over the forecast period, the energy and utilities construction market is expected to be supported by the government’s investment in transmission and distribution construction projects. In its 2018-2019 Budget, the Trump administration proposed US$30.7 billion for the Energy Department, a 2% increase from the fiscal year 2017-2018.
– According to American Society of Civil Engineers estimates, the country requires US$3.6 trillion to repair, upgrade and modify its aging transport infrastructure by 2020. Accordingly, under the Airport Improvement Program, the government plans to invest US$3.2 billion for the development and modernization of airports in the country.
– The total construction project pipeline in the US, as tracked by GlobalData, stands at US$629.3 billion. The pipeline, which includes all projects from pre-planning to execution, is skewed towards late stage projects, with 62.1% of the pipeline value being in projects in the pre-execution and execution stages as of October 2018.

Scope

This report provides a comprehensive analysis of the construction industry in the US and also provides –

– Historical (2013-2017) and forecast (2018-2022) 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.

Reasons to Buy

– 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

Table of Contents

1. EXECUTIVE SUMMARY 2

2. CONSTRUCTION OUTLOOK: AT-A-GLANCE 3

3. LATEST NEWS AND INDICATORS 9

4. KEY DRIVERS AND RISKS 12

4.1. Economic Performance 12

4.2. Political Environment 12

4.3. Demographics 12

4.4. Risk Profile 13

5. CONSTRUCTION OUTLOOK 14

5.1. All Construction 14

5.1.1. Outlook 14

5.1.2. Project analytics 16

5.2. Commercial Construction 18

5.2.1. Outlook 18

5.2.2. Project analytics 19

5.3. Industrial Construction 21

5.3.1. Outlook 21

5.3.2. Project analytics 22

5.4. Infrastructure Construction 24

5.4.1. Outlook 24

5.4.2. Project analytics 25

5.5. Energy and Utilities Construction 27

5.5.1. Outlook 27

5.5.2. Project analytics 28

5.6. Institutional Construction 30

5.6.1. Outlook 30

5.6.2. Project analytics 31

5.7. Residential Construction 33

5.7.1. Outlook 33

5.7.2. Project analytics 35

6. KEY INDUSTRY PARTICIPANTS 37

6.1. Contractors 37

6.2. Consultants 39

7. APPENDIX 41

7.1. What is this Report About? 41

7.2. Definitions 41

8. ABOUT GLOBALDATA 45

8.1. GlobalData at a Glance 45

8.2. GlobalData Construction 46

8.3. Disclaimer 47

8.4. Contact Us 47

Table

List of Tables

Table 1: Construction Outlook 3

Table 2: The US, Key Economic Indicators 12

Table 3: The US, Construction Output Value (nominal, US$ Million) 17

Table 4: The US, Top Commercial Construction Projects by Value 20

Table 5: The US, Top Industrial Construction Projects by Value 23

Table 6: The US, Top Infrastructure Construction Projects by Value 26

Table 7: The US, Top Energy and Utilities Construction Projects by Value 29

Table 8: The US, Top Institutional Construction Projects by Value 32

Table 9: The US, Top Residential and Mixed-Use Construction Projects by Value 36

Table 10: The US, Key Contractors 37

Table 11: The US, Key Consultants 39

Table 12: GlobalData Construction Market Definitions 42

Table 13: Construction Risk Index Ratings and Scores 44

Figures

List of Figures

Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix 3

Figure 2: The US, Construction Projects Pipeline by Sector (US$ Billion) 3

Figure 3: The US, Housing Price Index 9

Figure 4: The US, total residential permit issued Value (US$ Billion) 10

Figure 5: The US, construction spending on commercial buildings (US$ Million) 10

Figure 6: The US, Risk Profile, Q3 2018 13

Figure 7: The US, Risk Comparison, Q3 2018 13

Figure 8: The US, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate) 14

Figure 9: The US, Construction Output Value, Growth Matrix 15

Figure 10: The US, Construction Output Value, by Sector (US$ Million), 2013-2022 15

Figure 11: The US, Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2017-2022 16

Figure 12: The US, Construction Projects Pipeline, Value by Stage (US$ Million) 16

Figure 13: The US, Commercial Construction Output by Project Type (US$ Million), 2013-2022 18

Figure 14: The US, Commercial Construction Projects Pipeline, Value by Stage (US$ Million) 19

Figure 15: The US, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 20

Figure 16: The US, Industrial Construction Output by Project Type (US$ Million), 2013-2022 21

Figure 17: The US, Industrial Construction Projects Pipeline, Value by Stage (US$ Million) 22

Figure 18: The US, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 23

Figure 19: The US, Infrastructure Construction Output by Project Type (US$ Million), 2013-2022 24

Figure 20: The US, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million) 25

Figure 21: The US, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 26

Figure 22: The US, Energy and Utilities Construction Output by Project Type (US$ Million), 2013-2022 27

Figure 23: The US, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million) 28

Figure 24: The US, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 29

Figure 25: The US, Institutional Construction Output by Project Type (US$ Million), 2013-2022 30

Figure 26: The US, Institutional Construction Projects Pipeline, Value by Stage (US$ Million) 31

Figure 27: The US, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 31

Figure 28: The US, Residential Construction Output by Project Type (US$ Million), 2013-2022 34

Figure 29: The US, Residential Construction Projects Pipeline, Value by Stage (US$ Million) 35

Figure 30: The US, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million) 36

Figure 31: The US, Headquarters of Key Contractors (% of Total Project Pipeline) 38

Figure 32: The US, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor) 38

Figure 33: The US, Headquarters of Key Consultants (% of Total Project Pipeline) 40

Figure 34: The US, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants) 40

Frequently asked questions

Construction in the US – Key Trends and Opportunities to 2022 standard reports
Currency USD
$1,495

Can be used by individual purchaser only

$4,485

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Construction in the US – Key Trends and Opportunities to 2022 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Construction in the US – Key Trends and Opportunities to 2022 in real time.

  • Access a live Construction in the US – Key Trends and Opportunities to 2022 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.