United States Construction Market 2022: Industry is Expected to Rebound at an Annual Average Growth Rate of 3.2% from 2023 to 2026

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "United States of America (USA) Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to  ResearchAndMarkets.com's offering.

The US construction industry is expected to contract by 4.3% in 2022, following growth of 1% in 2021. The publisher has revised down growth in 2022 due to a worse-than-expected performance in Q2 2022, when the industry's gross output-in real terms-plummeted by 8.5% year on year (YoY), following a contraction of 6.5% in Q1 2022.

Cumulatively, the industry's output fell by 7.5% YoY in H1 2022. Persistent price pressures, interest rate hikes, and supply chain issues have weighed heavily on construction output in the US, causing delays and costs hikes.

The industry is expected to rebound at an annual average growth rate of 3.2% from 2023 to 2026, supported by investment in the transport, electricity, housing, and manufacturing sectors. In August 2022, the Biden administration signed into law the Inflation Reduction Act (IRA) which addresses priorities related to climate change and healthcare. This includes $369 billion in climate-related funding.

Among others, these funds will be provided in the form of grants to increase the domestic manufacturing capacity of solar panels, wind turbines, batteries, and other essential components to support renewable energy production and storage projects. In addition to this, the IRA will also provide incentives to boost the usage of electric vehicles (EVs) and is expected to generate investment in EV facilities in the coming years.

Forecast-period growth in the American construction industry will also be supported by investment as part of the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA). Funds from the IIJA will be spent over the next ten years, including $550 billion in new spending over the next five years. As of mid-August 2022, the government had funded over 5,000 projects and released approximately $113 billion in funding, as part of the IIJA. In a recent development, the government announced an allocation of $1.5 billion for 26 transport infrastructure projects, as part of the IIJA

The report provides detailed market analysis, information and insights into the United States construction industry, including:

• The United States 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 United States 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 (2017-2021) and forecast (2022-2026) 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.

Key Topics Covered:

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
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

For more information about this report visit https://www.researchandmarkets.com/r/qw3pe7-states-of?w=5

Source: GlobalData

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