The United States (US) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

The United States (US) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

The United States (US) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Summary

GlobalData’s Construction in the US and Key States - Key Trends and Opportunities to 2028 (Q2 2024) 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.

GlobalData expects the US construction industry to grow by 2.5% in real terms in 2024, as the industry is supported by increased investments from both the public and private sector through different initiatives. Public schemes include the inflation reduction act (IRA), the CHIPS and Science act and the infrastructure investment and jobs act (IIJA). Collectively these policies will help to boost construction projects in manufacturing, as well as help to improve transportation infrastructure and facilitate progress towards Net-Zero. On the private side, the White House reported in Q1 2024 that since 2021, private companies had pledged over $642 billion as part of the ""Manufacturing the Future"" program, while an additional $285 billion has been announced for investments into roads, bridges, and transportation networks. Furthermore, government initiatives have also led to investment into Electric Vehicle (EV) charging and the expansion of the electric school bus fleet.

Between 2025 and 2028, the industry's output is expected to grow at an annual average rate of 3.9%, as the policies discussed above will enter their next phase. Investment as part of the IRA and the IIJA will continue to enhance the development of energy, transportation, manufacturing, as well as housing infrastructure. While the sector’s output will be supported further by $1.2 trillion in government investment aimed at repairing and modernizing the nation’s infrastructure. Over the forecast period, $550 billion will be allocated for modernizing America’s bridges, as well as for the developments of seaports, airports, public transit and railways. While water infrastructure is also expected to be upgraded by 2026, as announced by President Biden’s Administration in May 2024.

Scope

This report provides a comprehensive analysis of the construction industry in the US. It provides -

• Historical (2019-2023) and forecast (2024-2028) 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.