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Construction in the United States (US) - Key Trends and Opportunities to 2024

  • ID: 5137436
  • Report
  • July 2020
  • Region: United States
  • 46 pages
  • GlobalData
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Construction in the United States (US) - Key Trends and Opportunities to 2024

Summary

The publisher expects the US construction industry to contract by 6.5% in real terms in 2020, and 2.0% in 2021. With economic activity expected to contract by as much as 8% this year, and the surge of new Coronavirus (COVID-19) cases in the southern and western parts of the US showing no signs of abating, the construction industry is anticipated to be severely hit this year.

While all construction activities have been allowed to continue in most parts of the US since the pandemic started, many projects in the bidding or final planning stages have been delayed or cancelled, largely due to the uncertainty surrounding the economy, falling demand for new works, and concerns related to COVID-19 safety measures at construction sites.

Over the remaining part of forecast period (2022-2024), the industry is expected to recover, with the industry’s output expected to register an annual average growth of 1.1% in real terms between 2022-2024. The government’s plans to increase investment in infrastructure construction - especially in critical subsectors such as transportation (roads, ports and bridges), water and sewerage, and telecommunications - should support the sector in the coming years. The Federal Reserve is expected to keep interest rates at the zero-lower bound for a prolonged period of time, and continue to support the recovery through large-scale asset purchases and emergency lending programs.

However, key risks remain. The degree of social distancing (both voluntary and compulsory) that will prevail in the second half of the year will be higher than previously anticipated, and even with a full reopening of the economy, people are going to remain more cautious about consumption in the long-term. Without a vaccine, how individuals and companies adapt to the “new normal” will be crucial for the recovery of 2020 and 2021, determining whether the economy will make a fast recovery or will need additional stimulus to endure the COVID-19 pandemic. Furthermore, heightening political uncertainty over the upcoming presidential election, lower oil prices and financial volatility are other factors that could undermine confidence.

This report provides detailed market analysis, information and insights into the US construction industry, including -
  • The US construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the US construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in the US. It provides -
  • Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in the US, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
  • Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using the publisher's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Note: Product cover images may vary from those shown
1 Executive Summary

2 Construction Industry: At-a-glance

3 Context
3.1. Economic Performance
3.2. Political Environment and Policy
3.3. Demographics
3.4. COVID-19 Status

4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Latest news and developments
4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
4.2.1. Outlook
4.2.2. Project analytics
4.2.3. Latest news and developments
4.3. Industrial Construction
4.3.1. Outlook
4.3.2. Project analytics
4.3.3. Latest news and developments
4.4. Infrastructure Construction
4.4.1. Outlook
4.4.2. Project analytics
4.4.3. Latest news and developments
4.5. Energy and Utilities Construction
4.5.1. Outlook
4.5.2. Project analytics
4.5.3. Latest news and developments
4.6. Institutional Construction
4.6.1. Outlook
4.6.2. Project analytics
4.6.3. Latest news and developments
4.7. Residential Construction
4.7.1. Outlook
4.7.2. Project analytics
4.7.3. Latest news and developments

5 Key Industry Participants
5.1. Contractors
5.2. Consultants

6 Construction Market Data

7 Appendix
7.1. What is this Report About?
7.2. Definitions

8 About the Publisher
8.1. About the Publisher
8.2. Disclaimer
8.3. Contact

List of Tables
Table 1: Construction Industry Key Data
Table 2: The US, Key Economic Indicators
Table 3: The US, Commercial Construction Output by Project Type (real % change), 2015-2024
Table 4: The US, Top Commercial Construction Projects by Value
Table 5: The US, Industrial Construction Output by Project Type (real % change), 2015-2024
Table 6: The US, Top Industrial Construction Projects by Value
Table 7: The US, Infrastructure Construction Output by Project Type (real % change), 2015-2024
Table 8: The US, Top Infrastructure Construction Projects by Value
Table 9: The US, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024
Table 10: The US, Top Energy and Utilities Construction Projects by Value
Table 11: The US, Institutional Construction Output by Project Type (real % change), 2015-2024
Table 12: The US, Top Institutional Construction Projects by Value
Table 13: The US, Residential Construction Output by Project Type (real % change), 2015-2024
Table 14: The US, Top Residential and Mixed-Use Construction Projects by Value
Table 15: The US, Key Contractors
Table 16: The US, Key Consultants
Table 17: The US, Construction Output Value (Real, US$ Million)
Table 18: The US, Construction Output Value (nominal, US$ Million)
Table 19: About the Publisher Market Definitions

List of Figures
Figure 1: G-20, Construction Output (real % change), 2020
Figure 2: The US, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: The US, COVID-19 Confirmed Cases (Number, Thousand)
Figure 4: The US, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024
Figure 5: The US, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 6: The US, Construction Value Put in Place (US$ Billion)
Figure 7: The US Unemployment Weekly Claims (Seasonally Adjusted, in thousands)
Figure 8: The US, Construction Projects Momentum Index
Figure 9: The US, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 10: The US, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 11: The US, Total Retail Sales Value (US$ Billion)
Figure 12: The US, Total Tourist Arrivals (Thousand)
Figure 13: The US, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 14: The US, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: The US, Total Industrial New Order Value (US$ Billion)
Figure 16: The US, Total Manufacturing Production Index (2015=100)
Figure 17: The US, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 18: The US, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: The US, Total Transport Spending (US$ Million)
Figure 20: The US, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 21: The US, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 22: The US, Total Energy Spending (US$ Million)
Figure 23: The US, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 24: The US, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: The US, Total Educational and Religious Construction Value Put in Place (US$ Million)
Figure 26: The US, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 27: The US, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: The US, Total Housing Building Permits Issued (Unit, Thousand)
Figure 29: The US, New Housing Units Started (Thousand)
Figure 30: The US, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: The US, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 32: The Publisher at a Glance
Note: Product cover images may vary from those shown
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