United States Construction Trends, Markets, Opportunities, 2014-2018 & 2019-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 18, 2019--
The “Construction in the US - Key Trends and Opportunities to 2023” report has been added to ResearchAndMarkets.com’s offering.
The total construction project pipeline in the US including all mega projects with a value above US$25 million - stands at US$852.2 billion. The pipeline, which includes all projects from pre-planning to execution, is relatively skewed towards late stage projects, with 58.7% of the pipeline value being in projects in the pre-execution and execution stages as of October 2019.
Following weak growth in 2017, construction growth in the US accelerated in 2018, owed in part to corporate tax cuts and increased infrastructure investment by state and local governments. As a result, the country’s construction industry grew by 2.2% in real terms in 2018, compared to 0.4% in 2017. However, growth is projected to decelerate this year to 0.5% in 2019, largely due to a decline in residential investment and heightened policy uncertainty from the recent escalation of the US trade war with China, which is weighing on business sentiment and holding back investment in major construction projects.
On 1 August, President Donald Trump announced that he would impose a new 10% tariff on a further US$300 billion of imported Chinese goods, ranging from clothes to smartphones, marking a sharp escalation of the ongoing trade war between the two countries. This new round of tariffs is in addition to the current tariffs of 25% on US$250 billion of Chinese imports. Already, construction companies across the country are shifting supply chains and delaying capital expenditure as a result of the previous US tariff increases on Chinese products and foreign metals. This latest announcement of tariffs on Chinese imports, together with the effects of previous tariffs, will further undermine business confidence, and likely lead to weaker construction growth.
Activity in the US residential construction market - which accounts for almost 42% of the industry’s total value - softened significantly in 2018, and has since struggled to gain traction, with construction put in place contracting by an average of 8.2% (in seasonally adjusted annual rates) in the first six months of 2019, according to the US Census Bureau. Growth is expected to recover to a compound annual growth rate (CAGR) of 1.1% over the remainder of the forecast period, supported by rising investments in infrastructure and energy and utilities projects.
Reasons to Buy
Key Topics Covered:
1 Executive Summary
2 Construction Outlook: At-A-Glance
3 Latest News And Indicators
4 Key Drivers And Risks
4.1. Economic Performance
4.2. Political Environment
4.4. Risk Profile
5 Construction Outlook
5.1. All Construction
5.1.2. Project analytics
5.2. Commercial Construction
5.2.2. Project analytics
5.3. Industrial Construction
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.2. Project analytics
5.6. Institutional Construction
5.6.2. Project analytics
5.7. Residential Construction
5.7.2. Project analytics
6 Key Industry Participants
For more information about this report visit https://www.researchandmarkets.com/r/bmb6nn
View source version on businesswire.com:https://www.businesswire.com/news/home/20191018005381/en/
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 10/18/2019 10:49 AM/DISC: 10/18/2019 10:49 AM