The analyst expects growth in US’ construction industry to slow from 6.6% in real terms in 2024 to 1.4% in 2025, owing to sluggishness in across all sectors of construction. Weak investor confidence is expected to cause muted demand across the commercial, industrial and residential construction sectors, while Donald Trump’s decision to freeze US subsidy schemes - the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA) - will contribute to a slowdown in energy and utilities and infrastructure construction during 2025 and beyond. These policies were initially paused by President Trump for 90 days on January 20th, 2025, as part of an Executive Order called “Unleashing American Energy”, as Trump aimed to stop any ‘excessive spending’ while focusing on Oil and Gas production. Despite multiple legal challenges, the reinstation of the frozen stimulus schemes remains uncertain and could lead to billions of dollars obligated for infrastructure projects being withdrawn, including those which are currently in the execution stage.
Despite the ongoing challenges, The analyst expects the construction industry in the US to expand by an annual average rate of 2% during 2026 to 2029, as the industry is supported by investments in transport infrastructure, housing and oil and gas projects. In mid-February 2025, President Trump launched the “America First Investment Policy” aimed at developing the nation’s security and infrastructure, while encouraging an inflow of greenfield investments, including those aimed at boosting exploration of oil and natural gas resources. Under this policy, the Trump administration announced in mid-March 2025 that, since the President's inauguration in January of the same year, the country has seen over $2.8 trillion in declared investments. Included in this figure are significant commitments from NVIDIA, a leading chip manufacturer, who announced an investment of $100 billion, and Johnson & Johnson, a major pharmaceutical company, who pledged $55 billion, both in mid-March 2025. In the same speech, President Trump had also stated his goal of attracting $100 billion of investment from Taiwanese semiconductor manufacturer Taiwan Semiconductor as part of the policy. In line with President Trump's emphasis on the advancement of the oil and gas industry, plans are underway for a significant infrastructure project in Louisiana. This initiative includes the construction of a liquefied natural gas (LNG) export terminal with a capacity of 30 million metric tons per annum (MTPA), alongside an associated pipeline. The project, valued at $10 billion, is slated to receive final construction approval in July 2025, with a targeted completion date set for 2031.
The Construction in the US and Key States - Key Trends and Opportunities to 2029 (Q1 2025) report provides detailed market analysis, information and insights into the US' construction industry, including:
Despite the ongoing challenges, The analyst expects the construction industry in the US to expand by an annual average rate of 2% during 2026 to 2029, as the industry is supported by investments in transport infrastructure, housing and oil and gas projects. In mid-February 2025, President Trump launched the “America First Investment Policy” aimed at developing the nation’s security and infrastructure, while encouraging an inflow of greenfield investments, including those aimed at boosting exploration of oil and natural gas resources. Under this policy, the Trump administration announced in mid-March 2025 that, since the President's inauguration in January of the same year, the country has seen over $2.8 trillion in declared investments. Included in this figure are significant commitments from NVIDIA, a leading chip manufacturer, who announced an investment of $100 billion, and Johnson & Johnson, a major pharmaceutical company, who pledged $55 billion, both in mid-March 2025. In the same speech, President Trump had also stated his goal of attracting $100 billion of investment from Taiwanese semiconductor manufacturer Taiwan Semiconductor as part of the policy. In line with President Trump's emphasis on the advancement of the oil and gas industry, plans are underway for a significant infrastructure project in Louisiana. This initiative includes the construction of a liquefied natural gas (LNG) export terminal with a capacity of 30 million metric tons per annum (MTPA), alongside an associated pipeline. The project, valued at $10 billion, is slated to receive final construction approval in July 2025, with a targeted completion date set for 2031.
The Construction in the US and Key States - Key Trends and Opportunities to 2029 (Q1 2025) 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 (2020-2024) and forecast (2025-2029) 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 our 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 business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance7 Construction Market Data
3 Context
4 Construction Outlook
5 Construction in Key US States
6 Key Industry Participants
8 Appendix
List of Tables
List of Figures
