Forecast: Construction Value Added in the US

The construction value added in the US has shown a consistent upward trend from 2013 to 2023. From a value of 3.62 in 2013, the industry has grown to 5.15 in 2023. The annual growth rate has varied, with higher growth examples like 5.99% in 2020 and more modest rates like 2.67% in 2023. Over the last two years, the growth rate has slowed, indicating a more tempered expansion as compared to earlier years. The Compound Annual Growth Rate (CAGR) averaged 3.79% over the past five years, reflecting a steady overall increase.

Looking to the future, from 2024 to 2028, the construction sector is forecasted to grow at a notably slower pace with a projected CAGR of 0.95%. By 2028, the value is anticipated to reach 5.51, marking an overall growth rate of 4.82% over the five years. Key trends to keep an eye on include potential impacts of economic policies, advancements in construction technology, and evolving environmental regulations, which may influence future growth rates and industry dynamics.