Road & Highway Construction in Ohio - Industry Market Research Report

Burning rubber: Consistent private and public investment will keep the industry growing in Ohio

Road & Highway Construction in Ohio

The Road and Highway Construction industry in Ohio has stagnated over the five years to 2019. This industry provides new work, extensions and alterations to road and highway networks, private driveways and airport runways. An increase in state and local government expenditure in Ohio has supported industry growth; however, the industry has been held back by floundering federal funding for transportation. Moreover, since new homes and housing developments must be integrated into the existing road network, industry revenue growth has also been supported by an increase in housing starts in Ohio. The necessity of a well-maintained road network causes this industry to have a low level of revenue volatility despite its reliance on public funding, which is subject to political processes and is often dependent on the business cycle. Over the five years to 2024, industry performance is expected to rebound considerably. Industry growth will be supported by an increase in local and state government expenditure in Ohio, as well as an increase in federal funding for transportation. Consistent revenue gains and strong profit are expected to attract new entrants into the industry, with the number of enterprises anticipated to increase.

Companies in this industry construct new highways, streets, roads and airport runways (excluding elevated roadways). The industry also includes highway and street construction management operators and special-trade contractors that perform subcontracting work on projects (e.g. grading, laying pavement, installing guardrails and public sidewalks). Establishments may subcontract some or all of the actual construction work.

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.