Forecast: Construction Output in the US

From 2013 to 2023, the US construction output demonstrated consistent growth, increasing from $77.66 billion to $170.13 billion. The year-on-year variation showed fluctuations, particularly high in 2015 (12.3%) and 2022 (11.81%). Over the last five years leading up to 2023, the Compound Annual Growth Rate (CAGR) stood at 8.9%, indicating a robust increase in the construction sector.

Expected future trends (2024-2028) indicate continued growth, with constructions output forecasted to reach $248.23 billion in 2028. The forecasted 5-year CAGR is 5.93%, reflecting a sustained upward trajectory.

Future Trends to Watch For:

• Advances in sustainable construction practices and green building technologies.
• Investment in infrastructure and public projects under government initiatives.
• Increasing use of modular construction and innovative materials.
• Impact of economic policies and interest rates on construction investments.