PUBLISHER: GlobalData | PRODUCT CODE: 1123641
PUBLISHER: GlobalData | PRODUCT CODE: 1123641
United States of America (USA) Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
The US construction industry is expected to contract by 4.3% in 2022, following growth of 1% in 2021. GlobalData has revised down growth in 2022 due to a worse-than-expected performance in Q2 2022, when the industry's gross output-in real terms-plummeted by 8.5% year on year (YoY), following a contraction of 6.5% in Q1 2022. Cumulatively, the industry's output fell by 7.5% YoY in H1 2022. Persistent price pressures, interest rate hikes, and supply chain issues have weighed heavily on construction output in the US, causing delays and costs hikes.
The industry is expected to rebound at an annual average growth rate of 3.2% from 2023 to 2026, supported by investment in the transport, electricity, housing, and manufacturing sectors. In August 2022, the Biden administration signed into law the Inflation Reduction Act (IRA) which addresses priorities related to climate change and healthcare. This includes $369 billion in climate-related funding. Among others, these funds will be provided in the form of grants to increase the domestic manufacturing capacity of solar panels, wind turbines, batteries, and other essential components to support renewable energy production and storage projects. In addition to this, the IRA will also provide incentives to boost the usage of electric vehicles (EVs) and is expected to generate investment in EV facilities in the coming years.
Forecast-period growth in the American construction industry will also be supported by investment as part of the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA). Funds from the IIJA will be spent over the next ten years, including $550 billion in new spending over the next five years. As of mid-August 2022, the government had funded over 5,000 projects and released approximately $113 billion in funding, as part of the IIJA. In a recent development, the government announced an allocation of $1.5 billion for 26 transport infrastructure projects, as part of the IIJA
The report provides detailed market analysis, information and insights into the United States construction industry, including -
- The United States 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 United States construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Scope
This report provides a comprehensive analysis of the construction industry in the US. It provides -
- Historical (2017-2021) and forecast (2022-2026) 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 Construction Industry: At-a-Glance
3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 COVID-19 Status
- 3.5 Risk Profile
4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
6 Construction Market Data
7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 7.4 GlobalData Construction
- Contact Us
List of Tables
List of Tables
- Table 1: Construction Industry Key Data
- Table 2: The US, Key Economic Indicators
- Table 3: The US, Commercial Construction Output by Project Type (Real % Change), 2017-26
- Table 4: The US, Top Commercial Construction Projects by Value
- Table 5: The US, Industrial Construction Output by Project Type (Real % Change), 2017-26
- Table 6: The US, Top Industrial Construction Projects by Value
- Table 7: The US, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
- Table 8: The US, Top Infrastructure Construction Projects by Value
- Table 9: The US, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
- Table 10: The US, Top Energy and Utilities Construction Projects by Value
- Table 11: The US, Institutional Construction Output by Project Type (Real % Change), 2017-26
- Table 12: The US, Top Institutional Construction Projects by Value
- Table 13: The US, Residential Construction Output by Project Type (Real % Change), 2017-26
- Table 14: The US, Top Residential Construction Projects by Value
- Table 15: The US, Key Contractors
- Table 16: The US, Key Consultants
- Table 17: The US, Construction Output Value (Real, $ Billion)
- Table 18: The US, Construction Output Value (Nominal, $ Billion)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
List of Figures
List of Figures
- Figure 1: North America, Construction Output (Real % Change), 2020-26
- Figure 2: The US, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: The US, COVID-19 Confirmed Cases
- Figure 4: The US, Risk Summary
- Figure 5: The US, Risk Regional Comparison
- Figure 6: The US, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: The US, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: The US, Value of Construction Put in Place ($ Billion, Seasonally Adjusted), Y-o-Y % Change
- Figure 9: The US, Real Gross Output of the Construction Industry, in 2012 Chained Prices, In $ Billion, Seasonally Adjusted at Annual Rates
- Figure 10: The US, Number of People Employed in the Construction Industry, In Thousands
- Figure 11: The US, Construction Projects Momentum Index
- Figure 12: Region, Construction Projects Momentum Index
- Figure 13: The US, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 14: The US, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 15: The US, Value of Lodging, Office, and Commercial Construction Put in Place ($ Billion, Seasonally Adjusted), Y-o-Y % Change
- Figure 16: The US, Total International Visitor Arrivals, In Thousands
- Figure 17: The US, Total Retail Sales Value (In $ Billion, Seasonally Adjusted)
- Figure 18: The US, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 19: The US, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 20: The US, Total Manufacturing Construction Put in Place ($ Million, Non-Seasonally Adjusted)
- Figure 21: The US, Industrial and Manufacturing Production Indices (2017=100, Seasonally Adjusted)
- Figure 22: The US, Total Exports ($ Billion, Seasonally Adjusted)
- Figure 23: The US, Total Manufacturing New Order Value ($ Billion, Seasonally Adjusted)
- Figure 24: The US, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 25: The US, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: The US, Total Transportation Construction Put in Place ($ Million, Non-Seasonally Adjusted), Y-o-Y % Change
- Figure 27: The US, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 28: The US, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: The US, Total Power Construction Put in Place ($ Million, Non-Seasonally Adjusted)
- Figure 30: The US, Construction Put in Place on Water Supply and Sewage and Waste Disposal Infrastructure ($ Million, Non-Seasonally Adjusted)
- Figure 31: The US, Total Communication Construction Put in Place ($ Million, Non-Seasonally Adjusted)
- Figure 32: The US, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 33: The US, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 34: The US, Total Educational, Healthcare, Public Safety, and Religious Buildings Construction Value Put in Place ($ Billion, Seasonally Adjusted)
- Figure 35: The US, Residential Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 36: The US, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 37: The US, Total Residential Construction Value Put in Place ($ Million, Non-Seasonally Adjusted)
- Figure 38: The US, Total New Housing Units Permit Authorized (Seasonally Adjusted, In Thousand)
- Figure 39: The US, Housing Starts (Unadjusted), In Thousands
- Figure 40: The US, Price Index of New Single-Family Houses Under Construction (2005=100)
- Figure 41: The US, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 42: The US, Headquarters of Key Consultants (% of Total Project Pipeline)
