Report Description

According to ConsTrack360’s Q4 2021 Global Construction Survey, construction industry in United States is expected to grow by 8.8% to reach USD 13,55,097 million in 2022.

Despite near-term challenges in certain construction sectors, medium to long term growth story in United States remains intact. The construction industry in United States is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 5.0% during 2022-2026. The construction output in the country is expected to reach USD 16,50,159.2 million by 2026.

The construction industry outlook remains stable from the short to medium-term perspective in the United States

In the United States, several projects are working their way through the planning phase, whereas others have finally resumed after a year of the global pandemic caused delays.

Despite the challenges associated with the global supply chain, such as rising raw material prices, shortage of building materials, and lack of skilled labor, ConsTrack360 projects that the residential construction sector will continue its stable growth over the four to eight quarters. Notably, the double-digit growth in the residential construction sector since Q3 2020 has made a significant contribution to the rebound of the overall economy and construction industry.

The residential construction sector largely remains supported by low lending rates, strong demand for bigger homes, and low housing inventory in the United States. Over the next few quarters, ConsTrack360 expects the healthcare and education sectors to receive more attention. Overall, ConsTrack360 maintains a stable outlook for the construction industry from the short to medium-term perspective in the United States.

Government spending on infrastructure development expected to support market growth in the United States

In November 2021, the US Congress passed a US$1 trillion infrastructure spending bill. The infrastructure legislation proposes US$550 billion in new federal expenditure over the next eight years in the United States for the upgrade of roads and bridges, highways and to modernize the city transit systems and passenger rail networks.

While the new infrastructure spending bill falls short of the original US$2.3 trillion proposals, ConsTrack360 expects the US$1 trillion spending on various United States infrastructure sectors to keep supporting the growth of the construction industry over the next four to eight quarters in the country.

Demand for new industrial space will attract investments

The United States online shopping industry is one of the largest around the world. The big online shopping holiday comes in the midst of a warehouse shortage in the country, as distribution center vacancy stands at an all-time low. According to ConsTrack360’ Q4 2021 Global Construction Survey, nearly 95% of all existing industrial space is in use in the United States.

The demand for industrial space is driven by large retailers who are expanding their e-commerce operations in the midst of the pandemic-led boom in the online shopping industry. Moreover, to mitigate the impact of the future supply chain bottlenecks, retailers in the country are also securing more storage space.

This is pushing industrial developers to become more creative and find more unconventional spots for building warehouses in the country. As the demand for industrial spaces continues to grow in the United States, ConsTrack360 expects the development of industrial spaces to grow over the next four to eight quarters, which will subsequently assist the growth of the overall construction industry from the short to medium-term perspective.

Large construction activities in Louisiana to support the industry

ConsTrack360 expects the growth in the construction sector to continue in Q1 2022, as several projects are expected to go under construction in the United States. For instance, construction activities are expected to begin by January 31 on the US$463 million projects, which will add 8.3 miles of elevated highway in Louisiana. The latest section, Phase 2 of the project, is expected to open in 2027. Moreover, ConsTrack360 anticipates spending on these roads and highways infrastructure projects to keep supporting the market growth over the next four to eight quarters in the United States.

This report from ConsTrack360 provides data and trend analyses on construction industry in the United States, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.


Scope

  • Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2016-2025 in United States. KPIs covered include the following:
  • Market size by value
  • Market size by volume of construction
  • Number of units
  • United States Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Housing type (multi family, single family)
  • Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
  • Price point / income level (luxury, mid-tier, affordable)
  • Construction stage (new construction, re-development & maintenance)
  • United States Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Green building by Housing type (multi family, single family)
  • Green building by Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
  • Green building by Price point / income level (luxury, mid-tier, affordable)
  • United States Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Office (further broken down by Grade A, Grade B, and Grade C)
  • Retail (further broken down by Grade A, Grade B, and Grade C)
  • Hospitality (further broken down by Grade A, Grade B, and Grade C)
  • Restaurant (further broken down by Grade A, Grade B, and Grade C)
  • Entertainment
  • Sports facility
  • Construction stage (new construction, re-development & maintenance)
  • United States Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Office green building construction
  • Retail green building construction
  • Hospitality green building construction
  • Restaurant green building construction
  • Entertainment green building construction
  • Sports facility green building construction
  • Other commercial green building construction
  • United States Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
  • United States Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Healthcare construction
  • Educational construction
  • Public sector
  • Construction stage (new construction, re-development & maintenance)
  • United States Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
  • Healthcare green building construction
  • Educational green building construction
  • United States Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
  • Marine and inland water infrastructure
  • Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
  • Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
  • Construction stage (new construction, re-development & maintenance)
  • United States Green Infrastructure Construction: 10- year market size & forecast in value terms




Reasons To Buy

  • In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in United States.
  • Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
  • City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.