Concrete Contractors in the US - Industry Market Research Report

Weakened foundations: Increasing costs for inputs of cement and labor will hinder industry growth

The industry pours and sets the most consumed human-made good on the planet. Concrete is integral in laying the foundation for buildings of almost any size, from single-family houses to skyscrapers, to hospitals, bridges and dams. The industry's wide range of applications and universal acceptance enabled contractors to leverage increased corporate investment and personal disposable income to generate revenue across multiple major markets. This wide range of clients grants contractors a degree of resistance to any downturns in one of its customer segments; this turned out to be especially important for contractors during the COVID-19 pandemic. While nearly every industry in the United States struggled, concrete contracting's outdoor work setting and high demand from a spike in housing projects late in 2020 increased revenue for the average operator by the end of the year. Recovery for the concrete industry has also departed from expectations, as a slowdown in residential construction coupled with a spike in inflationary pressures resulted in revenue declining 4.0% to $76.4 billion in 2023.

Operators in this industry are primarily engaged in pouring, building and finishing concrete foundations and structural elements, such as retaining walls and private driveways and walks. Industry operators also perform grout and shotcrete work. The labor performed may include new work, additions, alterations, maintenance and repairs.

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.