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Construction in the US - Key Trends and Opportunities to 2019

  • 102 pages, published in September 2015
  • By Timetric
  • Report Number: 1120574

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Synopsis
The US construction industry is expected to be supported by government investments in infrastructure, energy and residential projects over the forecast period (2015–2019).

The government aims to improve its transport and tourism infrastructure, while addressing the country’s housing shortage and focusing on renewable energy sources. Accordingly, the government introduced the Strategic Plan 2014–2018 to develop affordable housing units, America 2050 to develop the country’s deteriorating infrastructure, and the President’s Climate Action Plan through which the government aims to increase the country’s share of renewable energy from 9.8% of the total electricity generated in 2014 to 20.0% by 2020. These plans will create demand for construction over the forecast period.

Summary
Timetric’s Construction in the US – Key Trends and Opportunities to 2019 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 type of construction activity

- Analysis of equipment, material and service costs for each project type in the US

- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the US construction industry

- Profiles of the leading operators in the US construction industry

- Data highlights of the largest construction projects in the US

Scope
This report provides a comprehensive analysis of the construction industry in the US. It provides:

- Historical (2010–2014) and forecast (2015–2019) valuations of the construction industry in the US, using construction output and value-add methods

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

- Analysis of key construction industry issues, including regulation, cost management, funding and pricing

- Detailed profiles of the leading construction companies in the US

Reasons To Buy
- Identify and evaluate market opportunities using Timetric'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 business strategies using Timetric's critical and actionable insight.

- Assess business risks, including cost, regulatory and competitive pressures.

- Evaluate competitive risk and success factors.

Key Highlights
- Owing to the stable political environment, laws to protect intellectual property rights, strong domestic consumer market, access to export manufactured goods through 14 free-trade agreements with 20 countries, and advanced manufacturing facilities, the US is an attractive destination for manufacturers. The government aims to transform the country into a manufacturing hub and thereby, encourages private sector investments in the country.

- The government is focusing on developing renewable energy sources to reduce carbon emissions, which will boost the country’s construction industry. In 2009, the government announced plans to reduce carbon emissions by 17.0% by 2020 and 28.0% by 2025. According to the DoE, the share of wind energy is expected to increase from 4.4% of the electricity mix in 2014 to 20.0% by the end of 2030. Government and private sector investments are required to achieve these targets, which will support the growth of the energy and utilities construction market over the forecast period.

- Some US infrastructure is aging and requires investment to upgrade it. In 2013, the American Society for Civil Engineers gave the country’s infrastructure a D+ grade; US$3.6 trillion is needed to secure a B grade by 2020. The Northeast Maglev is planning to construct a high-speed railway project, which involves the construction of a high-speed railway from Washington to New York, with an expected investment of US$100 billion. The project is scheduled to complete by the end of 2030.

- According to the US Energy Information Administration (EIA), natural gas production is expected to increase from 23.0 trillion cubic feet (tcf) in 2011 to 33.1tcf in 2040, with a 44% contribution from shale gas production. Shale gas production reached 2.5tcf in December 2013, indicating an increase of 4% from December 2012. Pennsylvania has 6,261 Marcellus shale wells, but due to a lack of pipeline infrastructure, only 2,879 are producing shale gas. An extensive pipeline infrastructure worth US$10 billion will be required over the next 10 years to transport an estimated 50tcf of shale gas from Pennsylvania. Growing production of natural gas will increase demand for pipeline infrastructure, supporting growth in the energy and utilities construction market over the forecast period.

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