The US construction industry has finally started to prosper after years of slow growth

The US construction industry has been in a developing stage since early 2011. Having suffered a great deal in the past few years with a nominal CAGR of 0.61%, the industry has finally started to look up with output levels increasing at a steady rate. Increased government spending on public infrastructure projects alongside a recovering economy are the key factors driving the growth in the current market conditions, recording a CAGR of 7.12% till 2018.

This report: Construction in the US - Key Trends and Opportunities to 2018 provides detailed market analysis, information and insights into the US construction industry. The report discusses the key market trends, citing the present market conditions and highlights the market opportunities expected to propel the market forward.

Market trends

Rapid industrialization coupled with a strong urbanization have been the key factors driving the US construction market to a great extent. In 2013 alone, infrastructure and residential markets together accounted for 64% of the total construction industry revenue in the country. Alongwith this, mortgage loans being met on time has also boosted confidence of the industry. Housing loans are thus more readily available which has further driven up the demand for housing. Additionally the US government is on a drive to promote exports and innovation, improve healthcare facilities, restore bridges and highways in a bid to upgrade the country’s transport system, which have been instrumental in propelling the growth of the construction industry even further.

Market opportunities

The 2014 budget proposal already consists of an investment of USD 3.2 billion towards construction and renovation of R&D facilities. The increased government R&D spending is expected to support the growth of the construction industry substantially over the forecast period. Private sector and state level growth in conservation and development construction projects is also expected to rise, mostly due to the need of meeting the required regulations for new projects, opening up new markets for the construction industry to garner revenues from.

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