High rise: Rising consumer spending will support growing demand for construction
Commercial Building Construction in New York
Despite tepid statewide economic growth, the Commercial Building Construction industry in New York has flourished over the five years to 2017, amid low borrowing costs, rising consumer demand and a growing number of businesses. Over the five years to 2022, downstream demand is anticipated to remain strong and corporate profit is anticipated to increase, which will encourage the private sector to invest in new commercial space. Coupled with decreasing office vacancy rates, these factors are expected to cause industry revenue to increase over the five-year period.
This industry includes companies primarily responsible for work on the construction (i.e. new construction, additions, alterations, maintenance and repairs) of office, retail, hotel, agricultural and entertainment buildings. Participants are general contractors or project managers. This industry excludes institutional buildings (e.g. hospitals and schools), heavy industrial buildings (e.g. factories and power plants) or infrastructure (e.g. 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
A selection of companies mentioned in this report includes:
- Tutor Perini Corporation
- Turner Construction Company
- Lendlease Group