Market Research Report
Construction in the US - Key Trends and Opportunities to 2021
|Published by||Timetric||Product code||264253|
|Published||Content info||110 Pages
|Construction in the US - Key Trends and Opportunities to 2021|
|Published: November 7, 2017||Content info: 110 Pages||
The US construction industry grew from US$1.0 trillion in 2012 to US$1.2 trillion in 2016, and is expected to reach US$1.4 trillion by 2021, in real terms measured at constant 2010 US dollar exchange rates. Economic recovery, coupled with government investment in infrastructure construction, healthcare, manufacturing, educational facilities and affordable housing is expected to drive forecast-period (2017-2021) growth.
President Trump is focusing on infrastructure development, announcing in August 2017 plans to spend US$1.0 trillion to rebuild the nation's roads, tunnels, bridges, airports and other infrastructure by 2027, whilst also eliminating permitting regulations to speed up the construction of roads, bridges and pipelines projects.
According to the US Census Bureau, total construction spending in the country increased by 6.7%, from US$13.3 trillion in 2015 to US$14.2 trillion in 2016. Moreover, it increased by 4.5% during the first eight months of 2017, rising from US$9.4 trillion in January-August 2016 to US$9.8 trillion in January-August 2017.
However, there are risks associated with the outlook for the construction industry in the US over the forecast period. The government's strict immigration policy and high budget deficit are expected to affect construction activity. The Trump government aims to reduce federal deficit from 3.5% of the country's total GDP in FY2017 to 1.8% by FY2022.
The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.13% over the forecast period, compared to 5.03% during the review period (2012-2016).
Timetric's Construction in the US - Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the US construction industry, including:
This report provides a comprehensive analysis of the construction industry in the US. It provides: