Revenue for the industry has fallen over recent years as the COVID-19 pandemic put the brakes on growth, with industry revenue falling consistently since 2020. Decline continues with a 0.4% drop in 2023 alone, which is largely a result of rising interest rates limiting customers' access to capital. Prior to the pandemic, the Construction sector trended upward, propelling industry revenue growth. Rising per capita disposable income facilitated consumers to spend more while falling unemployment, improving business sentiment and accommodative interest rates led many businesses to expand. The downturn in construction markets caused by the pandemic then negated previous revenue growth. Overall, industry revenue has fallen at a CAGR of 3.3% over the past five years to reach $230.7 billion in 2023.Building up: the rising value of private nonresidential construction will boost industry revenue growth
This industry includes companies responsible for work on the construction of office, retail, hotel, agricultural and entertainment buildings, including new construction, additions, alterations, maintenance and repairs. Participants are general contractors or project managers. This industry excludes institutional buildings, such as hospitals and schools; heavy industrial buildings, such as factories and power plants; or infrastructure, such as communications towers or oil pipelines.
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.
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- The Whiting-Turner Contracting Company
- Skanska AB
- Clark Construction Group, Llc
- The Walsh Group Ltd.
- Turner Construction Company
- Belfor Usa Group Inc.
- Balfour Beatty Plc
- Rainbow International, Corp.
- Miller Zell Inc.
- Restoration Management Company
- Gilbane Inc.
- Nationwide Fixture Installations Inc.
- Futuristic Store Fixtures Pte. Ltd.
- PuroSystems Inc.
- Dki Ventures, Llc
- Oasis Group, Inc.
- Moss Inc.
- Paul Davis Restoration
- Atlantic Leak Detection and Utility Locating, LLC
Methodology
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