Road & Highway Construction in the US - Industry Market Research Report

Road & Highway Construction in the US - Industry Market Research Report

Road & Highway Construction in the US

Road and highway construction activity increased through the end of 2023, mainly due to strong investments in transportation infrastructure. Local and state governments have maintained healthy highway construction budgets, while federal programs, such as the Highway Trust Fund and the Infrastructure Investment and Jobs Act have bolstered industry performance. Road and highway construction revenue has expanded at a CAGR of 2.9% to $163.9 billion over the past five years, pushed up by a 1.6% increase in 2023 alone. Profit also increased as revenue growth outpaced labor costs.

Companies in this industry construct new highways, streets, roads and airport runways (excluding elevated roadways). The industry also includes highway and street construction management operators and special-trade contractors that perform subcontracting work on projects (e.g. grading, laying pavement and installing guardrails and public sidewalks). Operators may subcontract some or all of the actual construction work.

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.