NEW YORK, Jan. 17, 2023 /PRNewswire/ -- According to Technavio, the US commercial construction market size is estimated to grow by USD 107.69 billion from 2022 to 2027. The market is expected to grow at a CAGR of 1.62% during the forecast period. Moreover, the growth momentum will accelerate.
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Commercial construction market in US - Five forces
The commercial construction market in US is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- For interpretation of Porter's five forces model – buy the report!
Commercial construction market in US – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Commercial construction market in US - Segmentation assessment
Segment overview
Technavio has segmented the market based on type (building and others) and sector (private construction and public construction).
- The private construction segment will grow at a significant rate during the forecast period. This segment includes the construction of restaurants, grocery stores, shopping centers, office facilities, hospitals, and educational institutions. The construction sector in the US has witnessed high investments owing to rapid urbanization. The rising demand for new office spaces and administrative buildings, along with the expansion of the existing office spaces, is also driving the growth of the segment. Such factors are expected to fuel the growth of the private construction segment during the forecast period.
Commercial construction market in US – Market dynamics
Key factor driving market growth
- The increase in the construction of green buildings is driving the market growth.
- The construction, establishment, and subsequent services of a building consume a substantial amount of energy.
- Green buildings lower energy consumption and efficiently use the available energy to meet all their requirements.
- The by-products released into the environment from such buildings are recycled. Therefore, such buildings help conserve energy while operating efficiently.
- The demand for green buildings will grow at a significant rate owing to the increasing awareness about global warming and climate change.
- Such factors are expected to fuel the market during the forecast period.
Leading trends influencing the market
- The emergence of smart cities is a key trend in the market.
- In smart cities, the effective management of operations includes the integration of information and communication and the adoption of the latest technologies.
- The emergence of smart cities results in the development of functional areas such as transportation, traffic management, energy efficiency and sustainability, and governance.
- The rising number of smart city projects across the US will create a need for the construction of advanced road network systems.
- Therefore, such factors are expected to create growth opportunities for vendors operating in the market.
Major challenges hindering market growth
- The lack of workforce in the construction industry is challenging the market growth.
- There is a shortage of skilled workers, as vendors are unable to find skilled workforce to carry out their operations.
- As a result, companies need to turn down new orders due to the lack of skilled workforces such as technicians, site managers, and plumbers.
- Therefore, the lack of a skilled workforce is impeding the growth of the market in the US during the forecast period.
What are the key data covered in this US commercial construction market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the commercial construction market in US between 2023 and 2027
- Precise estimation of the size of the commercial construction market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of vendors in the US commercial construction market
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US Commercial Construction Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.62% |
Market growth 2023-2027 |
USD 107.69 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
0.56 |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
Actividades de Construccion y Servicios SA, AECOM, Bechtel Corp., Clark Construction Group LLC, Clayco, DPR Construction, Ferrovial SA, Fluor Corp., Gilbane Inc., Hensel Phelps, HOCHTIEF AG, Holder Construction Group LLC, Kiewit Corp., Parsons Corp., PCL Constructors Inc., Skanska AB, STO Building Group, The Walsh Group, and Tutor Perini Corp. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's industrials market reports
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Sector
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 10: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Commercial construction market in US 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Commercial construction market in US 2017 - 2021 ($ million)
- 4.2 Sector Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Sector Segment 2017 - 2021 ($ million)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Type Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Sector
- 6.1 Market segments
- Exhibit 25: Chart on Sector - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Sector - Market share 2022-2027 (%)
- 6.2 Comparison by Sector
- Exhibit 27: Chart on Comparison by Sector
- Exhibit 28: Data Table on Comparison by Sector
- 6.3 Private construction - Market size and forecast 2022-2027
- Exhibit 29: Chart on Private construction - Market size and forecast 2022-2027 ($ billion)
- Exhibit 30: Data Table on Private construction - Market size and forecast 2022-2027 ($ billion)
- Exhibit 31: Chart on Private construction - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Private construction - Year-over-year growth 2022-2027 (%)
- 6.4 Public construction - Market size and forecast 2022-2027
- Exhibit 33: Chart on Public construction - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Public construction - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Public construction - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Public construction - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Sector
- Exhibit 37: Market opportunity by Sector ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 38: Chart on Type - Market share 2022-2027 (%)
- Exhibit 39: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 40: Chart on Comparison by Type
- Exhibit 41: Data Table on Comparison by Type
- 7.3 Building - Market size and forecast 2022-2027
- Exhibit 42: Chart on Building - Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Building - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Building - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Building - Year-over-year growth 2022-2027 (%)
- 7.4 Others - Market size and forecast 2022-2027
- Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 50: Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 52: Impact of drivers and challenges in 2022 and 2027
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 53: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 54: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 55: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 56: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 57: Matrix on vendor position and classification
- 11.3 Actividades de Construccion y Servicios SA
- Exhibit 58: Actividades de Construccion y Servicios SA - Overview
- Exhibit 59: Actividades de Construccion y Servicios SA - Product / Service
- Exhibit 60: Actividades de Construccion y Servicios SA - Key offerings
- 11.4 AECOM
- Exhibit 61: AECOM - Overview
- Exhibit 62: AECOM - Business segments
- Exhibit 63: AECOM - Key news
- Exhibit 64: AECOM - Key offerings
- Exhibit 65: AECOM - Segment focus
- 11.5 Bechtel Corp.
- Exhibit 66: Bechtel Corp. - Overview
- Exhibit 67: Bechtel Corp. - Product / Service
- Exhibit 68: Bechtel Corp. - Key news
- Exhibit 69: Bechtel Corp. - Key offerings
- 11.6 Clark Construction Group LLC
- Exhibit 70: Clark Construction Group LLC - Overview
- Exhibit 71: Clark Construction Group LLC - Product / Service
- Exhibit 72: Clark Construction Group LLC - Key offerings
- 11.7 DPR Construction
- Exhibit 73: DPR Construction - Overview
- Exhibit 74: DPR Construction - Product / Service
- Exhibit 75: DPR Construction - Key offerings
- 11.8 Ferrovial SA
- Exhibit 76: Ferrovial SA - Overview
- Exhibit 77: Ferrovial SA - Business segments
- Exhibit 78: Ferrovial SA - Key offerings
- Exhibit 79: Ferrovial SA - Segment focus
- 11.9 Fluor Corp.
- Exhibit 80: Fluor Corp. - Overview
- Exhibit 81: Fluor Corp. - Business segments
- Exhibit 82: Fluor Corp. - Key offerings
- Exhibit 83: Fluor Corp. - Segment focus
- 11.10 Gilbane Inc.
- Exhibit 84: Gilbane Inc. - Overview
- Exhibit 85: Gilbane Inc. - Product / Service
- Exhibit 86: Gilbane Inc. - Key offerings
- 11.11 HOCHTIEF AG
- Exhibit 87: HOCHTIEF AG - Overview
- Exhibit 88: HOCHTIEF AG - Business segments
- Exhibit 89: HOCHTIEF AG - Key offerings
- Exhibit 90: HOCHTIEF AG - Segment focus
- 11.12 Kiewit Corp.
- Exhibit 91: Kiewit Corp. - Overview
- Exhibit 92: Kiewit Corp. - Product / Service
- Exhibit 93: Kiewit Corp. - Key offerings
- 11.13 Parsons Corp.
- Exhibit 94: Parsons Corp. - Overview
- Exhibit 95: Parsons Corp. - Business segments
- Exhibit 96: Parsons Corp. - Key offerings
- Exhibit 97: Parsons Corp. - Segment focus
- 11.14 Skanska AB
- Exhibit 98: Skanska AB - Overview
- Exhibit 99: Skanska AB - Business segments
- Exhibit 100: Skanska AB - Key offerings
- Exhibit 101: Skanska AB - Segment focus
- 11.15 STO Building Group
- Exhibit 102: STO Building Group - Overview
- Exhibit 103: STO Building Group - Product / Service
- Exhibit 104: STO Building Group - Key offerings
- 11.16 The Walsh Group
- Exhibit 105: The Walsh Group - Overview
- Exhibit 106: The Walsh Group - Product / Service
- Exhibit 107: The Walsh Group - Key offerings
- 11.17 Tutor Perini Corp.
- Exhibit 108: Tutor Perini Corp. - Overview
- Exhibit 109: Tutor Perini Corp. - Business segments
- Exhibit 110: Tutor Perini Corp. - Key offerings
- Exhibit 111: Tutor Perini Corp. - Segment focus
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 112: Inclusions checklist
- Exhibit 113: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 114: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 115: Research methodology
- Exhibit 116: Validation techniques employed for market sizing
- Exhibit 117: Information sources
- 12.5 List of abbreviations
- Exhibit 118: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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