The Construction industry in the US has shown steady growth throughout 2024, supported notably by residential construction during the COVID-19 pandemic. This sector encompasses a wide array of building and engineering projects across various industries, its revenue often reflecting broader economic shifts.
Prior to 2022, low interest rates facilitated favorable borrowing conditions for both residential and nonresidential projects. However, the subsequent increase in interest rates has hindered growth in the sector.
Key Statistics for the US Construction Market in 2024:
Revenue: $3.3 Trillion
Employees: 10 Million
Businesses: 4 Million
Market concentration within the US Construction industry remains low, with the top four companies collectively generating less than 40% of industry revenue. On average, market concentration across the sector in the United States stands at 5%.
Leading Companies in the US Construction Industry:
D.R. Horton, Inc.
Revenue: $30.42 Billion
Profit: $4.2 Billion
Profit Margin: 13.8%
Emcor Group, Inc.
Revenue: $12.45 Billion
Profit: $690.6 Million
Profit Margin: 5.5%
Fluor Corporation
Revenue: $5.72 Billion
Profit: $174 Million
Profit Margin: 3%
The market analysis indicates a positive trajectory for construction revenue prior to the pandemic, supported by a robust macroeconomic environment. Additionally, the 2021 Infrastructure Investment and Jobs Act are expected to bolster the industry, particularly benefiting the heavy and civil engineering construction subsector.
Report Scope and Key Insights:
The report encompasses market estimates from 2014 to 2029, competitive analysis, industry segmentation, financial benchmarks, and key trends. Noteworthy insights include the impact of the COVID-19 pandemic on nonresidential construction, the influence of interest rates on sector growth, and the overall market size limiting individual companies’ market shares.
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By Proptechbuzz
By Ravi Kumar