Municipal Building Construction in the US - Industry Market Research Report

Municipal Building Construction in the US - Industry Market Research Report

Municipal Building Construction in the US

The industry consists of various noncommercial markets, mainly healthcare, educational, religious, governmental and recreational facilities. Government funding accounts for almost all educational and public building construction, while the private sector funds most healthcare and religious constructions. Local and state government investment has inched up; but as states paid out millions of unemployment insurance claims during the pandemic, tax revenue and government investment declined. Rising interest rates, coupled with a declining value of nonresidential construction, have also made it less profitable to start new construction projects. Revenue is expected to plummet at a CAGR of 2.6% to $199.5 billion through the current year, including a 0.8% decrease in 2023 alone.

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.