United States (US) Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Reasons to buy the ‘US Construction’ market sizing report:
- Get a comprehensive analysis of the construction industry in the US.
- Access the historical and forecast valuations of the US construction industry along with details of key growth drivers.
- Identify the sectors and sub-sectors within the US construction market.
- Examine the mega-project pipeline, including breakdowns by development stage across all sectors.
- Assess the projected spending on projects in the existing pipeline.
- Learn about the major projects in the US construction market, in addition to details of leading contractors and consultants.
How is our ‘US Construction’ report unique from other reports in the market?
- 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.
We recommend this valuable source of information to anyone involved in:
- Contractors Including Civil Works, Electrical, HVAC, and Others
- Consultants/Designers
- Building Material Merchants/Players
- Construction Equipment Suppliers
- Business Development and Market Intelligence
- Investment Analysts and Portfolio Managers
- Professional Services – Investment Banks, PE/VC firms/Portfolio Managers/Buy-side Firms/Insurance Companies
- M&A/Investment, Management Consultants, and Consulting Firms
Get a Snapshot of the US Construction Market Report
US Construction Market Overview
The United States (US) construction market size was $2.3 trillion in 2023. The market will achieve an AAGR of more than 4% during 2025-2028 strengthened by investments in the energy, transportation, housing, and manufacturing sectors.
US Construction Market Outlook, 2023-2028 ($ Trillion)
Buy the Full Report to Know More about the US Construction Market Forecast
The US construction market research report gives a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the US construction market growth in the coming years.
Market Size (2023) | $2.3 trillion |
AAGR (2025-2028) | >4% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · Actividades de Construccion y Servicios
· Tutor Perini · Bechtel Group · Skanska · Parsons |
Key Consultants | · AECOM
· Jacobs Solutions · WSP Global · HNTB · STV Group |
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US Construction Market Segmentation by Sectors
The residential construction sector accounted for the highest market share in the US construction market in 2023
The key sectors in the US construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Over the forecasted period, a stronger construction pipeline of leisure and hospitality, retail, and data center projects will support the commercial sector’s output.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The US major acts including CHIPS and Science Act, and the Inflation Reduction Act (IRA), will continue to strengthen long-term investments and project development, thereby driving the market during the forecast period.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s continued investment in expanding transportation networks across the country through major programs and schemes will drive the infrastructure construction sector growth in the coming years.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Increasing renewable projects in line with the country’s goal of having 100% clean power by 2035 and cutting 2005 climate pollution levels in half by 2030 will support the sector’s growth.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The continuous investment and development of healthcare and educational infrastructure projects will fuel the sector’s growth during the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. In the long-term, government investment into more than six million affordable homes will address the current housing deficit and support output.
US Construction Market Analysis by Sectors, 2023 (%)
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US Construction Market - Competitive Landscape
Actividades de Construccion y Servicios emerged as the leading contractor and AECOM was the leading consultant in the US construction market in 2023
A few of the leading contractors in the US construction market are:
- Actividades de Construccion y Servicios
- Tutor Perini
- Bechtel Group
- Skanska
- Parsons
Domestic contractors account for most of the project pipeline in the US construction market.
US Construction Market Analysis by Contractors, 2023 (%)
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A few of the leading consultants in the US construction market are:
- AECOM
- Jacobs Solutions
- WSP Global
- HNTB
- STV Group
Consultants with headquarters within the US are involved in most of the project pipeline by value.
US Construction Market Analysis by Consultants, 2023 (%)
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US Construction Market - Latest Developments
- The largest commercial project currently in the pipeline is the One Central Mixed-Use Complex project. The project involves the construction of a mixed-use community, comprising 12 buildings on 13ha of land in Chicago.
- The largest institutional project currently in the pipeline is the Rochester Medical Campus Expansion project It involves the construction of 223,000m2 of healthcare space comprising five buildings.
Segments Covered in the Report
US Construction Sectors Outlook (Value, $ Trillion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
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Frequently asked questions
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What was the construction market size in the US in 2023?
The construction market size in the US was $2.3 trillion in 2023.
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What will the US construction market growth rate be during the forecast period?
The construction market in the US is projected to achieve an AAGR of more than 4% during 2025-2028.
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Which sector accounted for the highest share of the US construction market in 2023?
The residential construction sector accounted for the highest market share in the US construction market in 2023.
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Which are the leading contractors in the US construction market?
A few of the leading contractors in the US construction market are Actividades de Construccion y Servicios, Tutor Perini, Bechtel Group, Skanska, and Parsons, among others.
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Which are the leading consultants in the US construction market?
A few of the leading consultants in the US construction market are AECOM, Jacobs Solutions, WSP Global, HNTB, and STV Group, among others.
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