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Construction in the United States of America (USA) - Key Trends and Opportunities to 2025 (Q4 2021)

  • ID: 5546599
  • Report
  • December 2021
  • Region: United States
  • 57 Pages
  • GlobalData
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The US construction industry is expected to expand by 0.8% in real terms this year, following an annual growth of 1.5% in 2020. Construction output growth, in real terms, was relatively flat in the first three quarters or 2021, with output expanding by 0.2% year on year (YoY), according to data from the US Bureau of Economic Analysis. This growth was supported by strong activity in the residential construction sector, which offset the continued weakness in the non-residential sector.

The publisher expects the industry to register annual growth in the range of 3.4-4.5% from 2022 to 2025, supported by an increase in investments on transport, electricity, and broadband infrastructure projects. In November 2021, President Joe Biden signed the US$1.2 trillion bipartisan infrastructure bill into law. It includes an investment of US$550 billion in infrastructure spending over the next five years. Of the total, the government allocated US$284 billion on improving the country’s transportation network. In another positive development, in November 2021 the US House of Representatives passed the US$1.8 trillion Build Back Better (BBB) bill, which now needs approval from the Senate. The plan focuses on combating climate change, extending healthcare coverage and alleviating child poverty, among others. Although the government had planned to pass the BBB act in 2021, the president reported in mid-December 2021 that the negotiations will be extended into 2022.

The residential construction sector has been the standout performer of the US economic recovery from the Coronavirus (COVID-19) crisis, posting double-digit growth rates since the third quarter of 2020, and making significant contributions to the rebound of the economy and overall construction industry. The residential sector is expected to continue expanding over the coming quarters, despite the ongoing supply chain challenges, including the shortage of building materials and rising prices, lack of skilled labor and expensive land. The government is also focusing on providing affordable housing, amid a nationwide spike in housing prices. As part of the BBB plan, the government allocated an investment of US$150 billion on affordable housing provisions, including the construction and rehabilitation of over one million affordable homes across the country.

The publisher’s Construction in the US - Key Trends and Opportunities to 2025 (Q4 2021) 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 (2016-2020) and forecast (2021-2025) 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 Summary2 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
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest news and developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.3 Industrial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.4 Infrastructure Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.6 Institutional Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.7 Residential Construction
  • Outlook
  • Project analytics
  • 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
7.3 CRI Methodology
7.4 GlobalData Construction
  • Contact the Publisher

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), 2016-2025
Table 4: The US, Top Commercial Construction Projects by Value
Table 5: The US, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: The US, Top Industrial Construction Projects by Value
Table 7: The US, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: The US, Top Infrastructure Construction Projects by Value
Table 9: The US, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: The US, Top Energy and Utilities Construction Projects by Value
Table 11: The US, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: The US, Top Institutional Construction Projects by Value
Table 13: The US, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: The US, Top Residential 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$ Billion)
Table 18: GlobalData Construction Market Definitions
Table 19: Risk Dimensions
Table 20: Ratings, Scores and Definitions
List of Figures
Figure 1: G-20, Construction Output (Real % Change), 2020 and 2021
Figure 2: The US, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: The US, COVID-19 Confirmed Cases
Figure 4: The US, Risk Summary
Figure 5: The US, Risk Regional Comparison
Figure 6: The US, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: The US, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: The US, Value of Construction Put in Place, In US$ Billion, Seasonally Adjusted, Nominal % Change YoY
Figure 9: The US, Real Gross Output of the Construction Industry, in 2012 Chained Prices, In US$ Billion, Seasonally Adjusted at Annual Rates
Figure 10: The US, Number of People Employed in the Construction Industry, In Thousands
Figure 11: The US, Construction Projects Momentum Index
Figure 12: North America, Construction Projects Momentum Index
Figure 13: The US, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 14: The US, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: The US, Value of Lodging, Office and Commercial Construction Put in Place, Nominal % Change YoY
Figure 16: The US, Total International Visitor Arrivals, In Thousands
Figure 17: The US, Total Retail Sales Value, In US$ Billion, Seasonally Adjusted
Figure 18: The US, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 19: The US, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 20: The US, Total Manufacturing Construction Put in Place, US$ Million, Nominal
Figure 21: The US, Industrial and Manufacturing Production Indices (2017=100, Seasonally Adjusted)
Figure 22: The US, Export of Goods, In US$ Billion
Figure 23: The US, Total Manufacturing New Order Value, In US$ Billion, Seasonally Adjusted
Figure 24: The US, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: The US, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: The US, Total Transportation Construction Put in Place, Nominal YoY % Change
Figure 27: The US, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: The US, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: The US, Total Power Construction Put in Place, In US$ Million, Nominal
Figure 30: The US, Construction Put in Place on Water Supply and Sewage and Waste Disposal Infrastructure, In US$ Million, Nominal % Change YoY
Figure 31: The US, Total Communication Construction Put in Place (US$ Million, Non-Seasonally Adjusted)
Figure 32: The US, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 33: The US, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 34: The US, Total Educational, Healthcare, Public Safety and Religious Buildings Construction Value Put in Place, In Nominal Terms, In US$ Million
Figure 35: The US, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 36: The US, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 37: The US, Total Residential Construction Value Put in Place, In US$ Million, Nominal
Figure 38: The US, Total Number of New Privately Owned Housing Units Authorized By Building Permits, In Thousand Units
Figure 39: The US, Housing Starts (Unadjusted), In Thousands
Figure 40: The US, New Home Sales, in Thousands, In Seasonally-Adjusted Annual Rate
Figure 41: The US, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: The US, Headquarters of Key Consultants (% of Total Project Pipeline)
Note: Product cover images may vary from those shown