The value added of civil engineering in the US in 2023 stood at $157.79 billion. From 2013 to 2023, the sector exhibited variable growth with shifts in year-on-year variations, peaking in 2018 with a 6.05% increase and experiencing slower growth of 0.9% in 2020. The five-year CAGR for the periods between 2013 and 2023 varied, indicating fluctuating yet generally positive growth.
Key observed trends:
- The sector's growth rate showed significant fluctuations, with notable peaks in 2018 (6.05%) and slower growth rates around 2020 (0.9%).- The 5-year CAGR for 2023 was 2.65%, indicating positive but modest average annual growth.
Future trends to watch for:
- The forecast predicts a more subdued growth rate, with a 5-year CAGR of 1.91% till 2028.- Attention should be paid to potential economic impacts, policy changes, and technological advancements which could influence future civil engineering projects and their value added.