Construction in the US - Key Trends and Opportunities to 2018

Published: May, 2014 | Pages: 91 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This report provides detailed market analysis, information and insights into the US construction industry including:
The US construction industry's growth prospects by market, project type and type of construction activity
Analysis of equipment, material and service costs across each project type within US
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the US construction industry
Analyzing the profiles of the leading operators in the US construction industry.
Data highlights of the largest construction projects in the US 

Summary
The US construction industry recorded a nominal CAGR of 0.61% during the review period. Over the forecast period, its output is expected to record a CAGR of 7.12%. This growth will be driven by the recovering economy and increased government spending on public infrastructure. The infrastructure and residential construction markets collectively accounted for 64.8% of the total construction industry in 2013, and this is expected to grow over the forecast period due to both increased investment in upgrading aging infrastructure, and strong demand in the housing sector. Moreover, factors such as government efforts to promote exports and innovation, and improve healthcare, as well as a decline in the mortgage delinquency rate will also support the industry's growth. 
Scope
This report provides a comprehensive analysis of the construction industry in the US. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in the US using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in the US 
Reason To Buy
 Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
Assess market growth potential at a micro-level with over 600 time-series data forecasts
Understand the latest industry and market trends
Formulate and validate business strategies using Timetric's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors 
Key Highlights
 The US construction industry has been in an expansionary phase since early 2011, having suffered greatly over the preceding three years. According to the US Census Bureau and Department of Commerce, construction output value increased from US$857 in 2012 to US$898.4 in 2013. In 2013, the values of private and public construction increased by 8.5% and 2.8% respectively, relative to 2012.  
The housing market is also improving. According to the Mortgage Bankers Association (MBA), the mortgage delinquency rate in 2013 was 6.4% (a decline of 70 basis points over 2012), and is approaching towards the historical average of 5%, while the foreclosure declined by 33% during the same period. These factors will support the growth in the construction industry over the forecast period. 
According to the American Society of Civil Engineers (ASCE), one out of nine bridges is deficient, 42% of major urban highways are congested and 32% of major roads are in poor condition. In a bid to upgrade the country's road transport, the 2013 budget includes a Surface Transportation Reauthorization Bill, worth US$476 billion for a period of six years, which will finance all highway, bridges and mass transit construction projects until 2018. Furthermore, during these six years, the bill also includes the investment of US$305 billion for the reconstruction of roads, bridges and an upgrade of the highway system, indicating an increase of 34% as compared to the previous bill. 
The country's seasonally adjusted manufacturing sales increased in 2013, from US$1,667.4 billion in the second quarter to US$1,701.5 billion in the third, while their seasonally adjusted after-tax profit increased from US$141.1 billion to US$150.6 billion during the same period. According to the Markit, the purchasing managers' index (PMI) reached 55.0 in December 2013 - the highest figure all year - indicating significant improvement in business conditions. Assuming these growth trends continue over the forecast period, the improvement in the manufacturing industry will support the category of manufacturing plants to grow at a moderate rate. 
According to the Global Innovation Index, the country's innovation ranking improved from 10th position in 2012 to 5th in 2013. In order to remain globally competitive, the government proposed to increase federal research and development (R&D) spending in the 2013 budget to US$140.8 billion, an increase of 1.4% over 2012. The 2013 budget also includes the expanded and permanent research and experimentation tax credit (R&E) for companies to promote investment in this innovation. Moreover, the 2014 budget proposed an investment of US$3.2 billion for research infrastructure, out of the total federal R&D spending of US$142.8 billion, which includes the construction and renovation of R&D facilities and the purchase of R&D equipment. The increased government R&D spending will support the growth of this category over the forecast period.

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutiol Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Bechtel Corporation
8.1 Bechtel Corporation - Company Overview
8.2 Bechtel Corporation - Business Description
8.3 Bechtel Corporation - Main Services
8.4 Bechtel Corporation - History
8.5 Bechtel Corporation - Company Information
8.5.1 Bechtel Corporation - key competitors
8.5.2 Bechtel Corporation - key employees
9 Company Profile: Kiewit Corporation
9.1 Kiewit Corporation - Company Overview
9.2 Kiewit Corporation - Business Description
9.3 Kiewit Corporation - Main Services
9.4 Kiewit Corporation - History
9.5 Kiewit Corporation - Company Information
9.5.1 Kiewit Corporation - key competitors
9.5.2 Kiewit Corporation - key employees
10 Company Profile: URS Corporation
10.1 URS Corporation - Company Overview
10.2 URS Corporation - Business Description
10.3 URS Corporation - Main Services
10.4 URS Corporation - History
10.5 URS Corporation - Company Information
10.5.1 URS Corporation - key competitors
10.5.2 URS Corporation - key employees
11 Company Profile: KBR, Inc.
11.1 KBR, Inc. - Company Overview
11.2 KBR, Inc. - Business Description
11.3 KBR, Inc. - Main Services
11.4 KBR, Inc. - History
11.5 KBR, Inc. - Company Information
11.5.1 KBR, Inc. - key competitors
11.5.2 KBR, Inc. - key employees
12 Company Profile: Fluor Corporation
12.1 Fluor Corporation - Company Overview
12.2 Fluor Corporation - Business Description
12.3 Fluor Corporation - Main Services
12.4 Fluor Corporation - History
12.5 Fluor Corporation - Company Information
12.5.1 Fluor Corporation - key competitors
12.5.2 Fluor Corporation - key employees
13 Market Data Alysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutiol Construction
13.5.1 Institutiol construction output by project type
13.5.2 Institutiol construction output by cost type
13.5.3 Institutiol construction output by activity type
13.5.4 Institutiol construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is this Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric's Services
14.8 Disclaimer


List of Tables
Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 - CCOA - Chi City of America - New York
Table 3: Commercial Construction Project 2 - AAPL - Cupertino New Apple Headquarters - California
Table 4: Commercial Construction Project 3 - CERN - Three Trails Crossing - Missouri
Table 5: Industrial Construction Project 1 - Global Foundries - Malta Fab 8.2 Computer Chip Manufacturing Plant - New York
Table 6: Industrial Construction Project 2 - BA - Decatur 777X Jetliner Manufacturing Plant - Illinois
Table 7: Industrial Construction Project 3 - DOE - MOX Fuel Fabrication Facility - South Caroli
Table 8: Infrastructure Construction Project 1 - CDA - MTA - East Side Access Tunnel - New York
Table 9: Infrastructure Construction Project 2 - CHSRA - California High-Speed Rail Line - USA
Table 10: Infrastructure Construction Project 3 - THSRTC - Texas T-Bone High-Speed Rail Corridor - Texas
Table 11: Institutiol Construction Project 1 - NYU - New York University Expansion - New York
Table 12: Institutiol Construction Project 2 - CPMC - Cathedral Hill Hospital Development - California
Table 13: Institutiol Construction Project 3 - CU/TIIT - Cornell NYC Tech Campus Development - New York
Table 14: Residential Construction Project 1 - ACPT - St. Charles Model Green City Development - Maryland
Table 15: Residential Construction Project 2 - PLG/Hines/GSRE - MoMA Condominium Tower - New York
Table 16: Residential Construction Project 3 - LEG - Hallets Point Development - New York
Table 17: Bechtel Corporation, Key Facts
Table 18: Bechtel Corporation, Main Services
Table 19: Bechtel Corporation, History
Table 20: Bechtel Corporation, Key Employees
Table 21: Kiewit Corporation, Key Facts
Table 22: Kiewit Corporation, Main Services
Table 23: Kiewit Corporation, History
Table 24: Kiewit Corporation, Key Employees
Table 25: URS Corporation, Key Facts
Table 26: URS Corporation, Main Services
Table 27: URS Corporation, History
Table 28: URS Corporation, Key Employees
Table 29: KBR, Inc., Key Facts
Table 30: KBR, Inc., Main Services
Table 31: KBR, Inc. - History
Table 32: KBR, Inc., Key Employees
Table 33: Fluor Corporation, Key Facts
Table 34: Fluor Corporation, Main Services
Table 35: Fluor Corporation - History
Table 36: Fluor Corporation, Key Employees
Table 37: US Construction Output by Project Type (US$ Million), 2009-2013
Table 38: US Construction Output by Project Type (US$ Million), 2013-2018
Table 39: US Construction Output by Cost Type (US$ Million), 2009-2013
Table 40: US Construction Output by Cost Type (US$ Million), 2013-2018
Table 41: US Construction Output by Activity Type (US$ Million), 2009-2013
Table 42: US Construction Output by Activity Type (US$ Million), 2013-2018
Table 43: US Construction Value Add by Project Type (US$ Million), 2009-2013
Table 44: US Construction Value Add by Project Type (US$ Million), 2013-2018
Table 45: US Commercial Construction Output by Project Type (US$ Million), 2009-2013
Table 46: US Commercial Construction Output by Project Type (US$ Million), 2013-2018
Table 47: US Commercial Construction Output by Cost Type (US$ Million), 2009-2013
Table 48: US Commercial Construction Output by Cost Type (US$ Million), 2013-2018
Table 49: US Commercial Construction Output by Activity Type (US$ Million), 2009-2013
Table 50: US Commercial Construction Output by Activity Type (US$ Million), 2013-2018
Table 51: US Commercial Construction Value Add by Project Type (US$ Million), 2009-2013
Table 52: US Commercial Construction Value Add by Project Type (US$ Million), 2013-2018
Table 53: US Industrial Construction Output by Project Type (US$ Million), 2009-2013
Table 54: US Industrial Construction Output by Project Type (US$ Million), 2013-2018
Table 55: US Industrial Construction Output by Cost Type (US$ Million), 2009-2013
Table 56: US Industrial Construction Output by Cost Type (US$ Million), 2013-2018
Table 57: US Industrial Construction Output by Activity Type (US$ Million), 2009-2013
Table 58: US Industrial Construction Output by Activity Type (US$ Million), 2013-2018
Table 59: US Industrial Construction Value Add by Project Type (US$ Million), 2009-2013
Table 60: US Industrial Construction Value Add by Project Type (US$ Million), 2013-2018
Table 61: US Infrastructure Construction Output by Project Type (US$ Million), 2009-2013
Table 62: US Infrastructure Construction Output by Project Type (US$ Million), 2013-2018
Table 63: US Infrastructure Construction Output by Cost Type (US$ Million), 2009-2013
Table 64: US Infrastructure Construction Output by Cost Type (US$ Million), 2013-2018
Table 65: US Infrastructure Construction Output by Activity Type (US$ Million), 2009-2013
Table 66: US Infrastructure Construction Output by Activity Type (US$ Million), 2013-2018
Table 67: US Infrastructure Construction Value Add by Project Type (US$ Million), 2009-2013
Table 68: US Infrastructure Construction Value Add by Project Type (US$ Million), 2013-2018
Table 69: US Institutiol Construction Output by Project Type (US$ Million), 2009-2013
Table 70: US Institutiol Construction Output by Project Type (US$ Million), 2013-2018
Table 71: US Institutiol Construction Output by Cost Type (US$ Million), 2009-2013
Table 72: US Institutiol Construction Output by Cost Type (US$ Million), 2013-2018
Table 73: US Institutiol Construction Output by Activity Type (US$ Million), 2009-2013
Table 74: US Institutiol Construction Output by Activity Type (US$ Million), 2013-2018
Table 75: US Institutiol Construction Value Add by Project Type (US$ Million), 2009-2013
Table 76: US Institutiol Construction Value Add by Project Type (US$ Million), 2013-2018
Table 77: US Residential Construction Output by Project Type (US$ Million), 2009-2013
Table 78: US Residential Construction Output by Project Type (US$ Million), 2013-2018
Table 79: US Residential Construction Output by Cost Type (US$ Million), 2009-2013
Table 80: US Residential Construction Output by Cost Type (US$ Million), 2013-2018
Table 81: US Residential Construction Output by Activity Type (US$ Million), 2009-2013
Table 82: US Residential Construction Output by Activity Type (US$ Million), 2013-2018
Table 83: US Residential Construction Value Add by Project Type (US$ Million), 2009-2013
Table 84: US Residential Construction Value Add by Project Type (US$ Million), 2013-2018
Table 85: Timetric Construction Market Definitions