From 2014 to 2019, road infrastructure investment in the US showed a consistent but modest upward trend, with values rising from $105.45 billion to $108.14 billion. However, in 2020, there was a sharp decline to $90.11 billion, a significant drop of 16.67% compared to the previous year, likely due to the COVID-19 pandemic's impact. Investment levels bounced back in 2021, reaching $103.54 billion, and continued to grow to $109.41 billion in 2022. By 2023, investments slightly increased to $109.81 billion, showcasing a year-on-year variation of 0.37%.
The Compound Annual Growth Rate (CAGR) over the past five years (2019-2023) stands at a moderate 0.39%.Forecasts for the period from 2024 to 2028 indicate a steady yet gradual increase, with the investment expected to reach $111.61 billion by 2028. The forecasted CAGR for the next five years is 0.31%, indicating a slow but steady growth in road infrastructure investment.
Future trends to watch for:
- Continued recovery and stabilization post-pandemic, likely driving public and private investments.
- Increasing focus on sustainable and smart infrastructure solutions.
- Infrastructure bills and government initiatives that could significantly impact future investment levels.
- Technological advancements and their integration into infrastructure projects.
- Evolving economic conditions and their influence on public budgets and private investments.
