Construction in the US - Key Trends and Opportunities to 2020

Published: Oct, 2016 | Pages: 104 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)

Synopsis

Following contraction since 2006, the US construction industry finally recovered in 2012 and registered a growth rate of 3.5% in real terms. The recovery has continued through to 2015, and is expected to remain in place over the forecast period (2016-2020), with investment in infrastructure construction, healthcare, manufacturing, educational facilities and housing projects continuing to drive growth. 

Growth will also be driven by the President's Climate Action Plan, through which the government aims to increase the share of renewable energy from 10% of total consumption in 2015 to 20% by 2020.

Through the America 2050 program, the government plans to develop the country's deteriorating infrastructure to provide a sustainable mobility system to the growing population. It includes the construction of California high-speed rail phase-1, and new intercity rail operations between Merced and the San Fernando Valley by 2022. 

Through affordable housing programs such as the Community Development Block Grants (CDBG), the US Department of Agriculture Housing Assistance program, the Neighbourhood Stabilization Program (NSP) and the Housing Choice Voucher Program, the government aims to build affordable houses for low- and middle-income people.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 3.34% over the forecast period, up from 3.12% during the review period (2011-2015).

Summary

Timetric's Construction in the US - Key Trends and Opportunities to 2020 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 construction activity

• Analysis of equipment, material and service costs for each project type in the 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

• Profiles of the leading operators in the US construction industry

• Data highlights of the largest construction projects in the US

Scope

This report provides a comprehensive analysis of the construction industry in the US It provides:

• Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in the US using construction output and value-add methods

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, 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

Reasons To Buy

• Identify and evaluate market opportunities using Timetric's 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 strategy using Timetric's critical and actionable insight.

• Assess business risks, including cost, regulatory and competitive pressures.

• Evaluate competitive risk and success factors.

Key Highlights

• In terms of the number of building permits and their total value, there is clear evidence of improvement in residential construction, according to the latest data from the US Census Bureau. The total number of building permits issued in the country grew by 12.4% from 1.1 million in 2014 to 1.2 million in 2015. This was preceded by annual growths of 6.2%, 19.4% and 32.9% in 2014, 2013 and 2012 respectively.

• In 2015, the government announced plans to spend US$305.0 billion on developing highways and other connecting roads in the country. In addition, the government plans to invest US$10.0 billion on Amtrak and other rail programs, US$12.0 billion on mass transit system and US$1.0 billion on road safety programs. The government also encourages research and innovation in transport infrastructure for rural and urban areas where the construction of a standard transport system is difficult.

• The government's plan to expand and upgrade runways, terminals, taxiways and passenger amenities at the country's airports is expected to support growth in the infrastructure construction market over the forecast period. Accordingly, the government plans to increase the capacity of Honolulu International Airport with an investment of US$2.7 billion by 2025.

• The government focuses on the construction of low and affordable houses to meet demand and supply of affordable houses in the country. Under the Home, NSP, CDBG, Housing Choice Voucher Program Section-8 and Project-based Rental Assistance Program, the US Department of Housing and Urban Development (HUD) provides financial support for the construction of social housing. Accordingly, the government increased total spending on HUD programs by 4.0% from US$47.0 billion in 2015-2016 to US$48.9 billion in 2016-2017.

• Energy and utilities construction market growth will be driven by government plans to increase the share of renewable energy in total energy consumption, encouraging investment in renewable energy infrastructure. The government aims to increase renewable energy's share of total energy consumption from 10% in 2015 to 20% by 2020.

 Table of Contents

1 Executive Summary

2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction

3 Key Issues and Developments

4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type

5 Company Profile: Bechtel Corporation
5.1 Bechtel Corporation - Company Overview
5.2 Bechtel Corporation - Business Description
5.3 Bechtel Corporation - Main Services
5.4 Bechtel Corporation - History
5.5 Bechtel Corporation - Company Information
5.5.1 Bechtel Corporation - key competitors
5.5.2 Bechtel Corporation - key employees

6 Company Profile: Fluor Corporation
6.1 Fluor Corporation - Company Overview
6.2 Fluor Corporation - Business Description
6.3 Fluor Corporation - Main Services
6.4 Fluor Corporation - History
6.5 Fluor Corporation - Company Information
6.5.1 Fluor Corporation - key competitors
6.5.2 Fluor Corporation - key employees

7 Company Profile: Kiewit Corporation
7.1 Kiewit Corporation - Company Overview
7.2 Kiewit Corporation - Business Description
7.3 Kiewit Corporation - Main Services
7.4 Kiewit Corporation - History
7.5 Kiewit Corporation - Company Information
7.5.1 Kiewit Corporation - key competitors
7.5.2 Kiewit Corporation - key employee

8 Company Profile: KBR, Inc.
8.1 KBR, Inc. - Company Overview
8.2 KBR, Inc. - Business Description
8.3 KBR, Inc. - Main Services
8.4 KBR, Inc. - History
8.5 KBR, Inc. - Company Information
8.5.1 KBR, Inc. - key competitors
8.5.2 KBR, Inc. - key employees

9 Company Profile: Tutor Perini Corporation
9.1 Tutor Perini Corporation - Company Overview
9.2 Tutor Perini Corporation - Business Description
9.3 Tutor Perini Corporation - Main Services
9.4 Tutor Perini Corporation - History
9.5 Tutor Perini Corporation - Company Information
9.5.1 Tutor Perini Corporation - key competitors
9.5.2 Tutor Perini Corporation - key employees

10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric's Services
10.7 Disclaimer

List of Tables

Table 1: US Construction Output by Project Type (US$ Million), 2011-2015
Table 2: US Construction Output by Project Type (US$ Million), 2015-2020
Table 3: US Construction Output by Cost Type (US$ Million), 2011-2015
Table 4: US Construction Output by Cost Type (US$ Million), 2015-2020
Table 5: US Construction Output by Activity Type (US$ Million), 2011-2015
Table 6: US Construction Output by Activity Type (US$ Million), 2015-2020
Table 7: US Construction Value Add by Project Type (US$ Million), 2011-2015
Table 8: US Construction Value Add by Project Type (US$ Million), 2015-2020
Table 9: US Commercial Construction Output by Project Type (US$ Million), 2011-2015
Table 10: US Commercial Construction Output by Project Type (US$ Million), 2015-2020
Table 11: US Commercial Construction Output by Cost Type (US$ Million), 2011-2015
Table 12: US Commercial Construction Output by Cost Type (US$ Million), 2015-2020
Table 13: US Commercial Construction Output by Activity Type (US$ Million), 2011-2015
Table 14: US Commercial Construction Output by Activity Type (US$ Million), 2015-2020
Table 15: US Commercial Construction Value Add by Project Type (US$ Million), 2011-2015
Table 16: US Commercial Construction Value Add by Project Type (US$ Million), 2015-2020
Table 17: US Industrial Construction Output by Project Type (US$ Million), 2011-2015
Table 18: US Industrial Construction Output by Project Type (US$ Million), 2015-2020
Table 19: US Industrial Construction Output by Cost Type (US$ Million), 2011-2015
Table 20: US Industrial Construction Output by Cost Type (US$ Million), 2015-2020
Table 21: US Industrial Construction Output by Activity Type (US$ Million), 2011-2015
Table 22: US Industrial Construction Output by Activity Type (US$ Million), 2015-2020
Table 23: US Industrial Construction Value Add by Project Type (US$ Million), 2011-2015
Table 24: US Industrial Construction Value Add by Project Type (US$ Million), 2015-2020
Table 25: US Infrastructure Construction Output by Project Type (US$ Million), 2011-2015
Table 26: US Infrastructure Construction Output by Project Type (US$ Million), 2015-2020
Table 27: US Infrastructure Construction Output by Cost Type (US$ Million), 2011-2015
Table 28: US Infrastructure Construction Output by Cost Type (US$ Million), 2015-2020
Table 29: US Infrastructure Construction Output by Activity Type (US$ Million), 2011-2015
Table 30: US Infrastructure Construction Output by Activity Type (US$ Million), 2015-2020
Table 31: US Infrastructure Construction Value Add by Project Type (US$ Million), 2011-2015
Table 32: US Infrastructure Construction Value Add by Project Type (US$ Million), 2015-2020
Table 33: US Energy and Utilities Construction Output by Project Type (US$ Million), 2011-2015
Table 34: US Energy and Utilities Construction Output by Project Type (US$ Million), 2015-2020
Table 35: US Energy and Utilities Construction Output by Cost Type (US$ Million), 2011-2015
Table 36: US Energy and Utilities Construction Output by Cost Type (US$ Million), 2015-2020
Table 37: US Energy and Utilities Construction Output by Activity Type (US$ Million), 2011-2015
Table 38: US Energy and Utilities Construction Output by Activity Type (US$ Million), 2015-2020
Table 39: US Energy and Utilities Construction Value Add by Project Type (US$ Million), 2011-2015
Table 40: US Energy and Utilities Construction Value Add by Project Type (US$ Million), 2015-2020
Table 41: US Institutional Construction Output by Project Type (US$ Million), 2011-2015
Table 42: US Institutional Construction Output by Project Type (US$ Million), 2015-2020
Table 43: US Institutional Construction Output by Cost Type (US$ Million), 2011-2015
Table 44: US Institutional Construction Output by Cost Type (US$ Million), 2015-2020
Table 45: US Institutional Construction Output by Activity Type (US$ Million), 2011-2015
Table 46: US Institutional Construction Output by Activity Type (US$ Million), 2015-2020
Table 47: US Institutional Construction Value Add by Project Type (US$ Million), 2011-2015
Table 48: US Institutional Construction Value Add by Project Type (US$ Million), 2015-2020
Table 49: US Residential Construction Output by Project Type (US$ Million), 2011-2015
Table 50: US Residential Construction Output by Project Type (US$ Million), 2015-2020
Table 51: US Residential Construction Output by Cost Type (US$ Million), 2011-2015
Table 52: US Residential Construction Output by Cost Type (US$ Million), 2015-2020
Table 53: US Residential Construction Output by Activity Type (US$ Million), 2011-2015
Table 54: US Residential Construction Output by Activity Type (US$ Million), 2015-2020
Table 55: US Residential Construction Value Add by Project Type (US$ Million), 2011-2015
Table 56: US Residential Construction Value Add by Project Type (US$ Million), 2015-2020
Table 57: Bechtel Corporation, Key Facts
Table 58: Bechtel Corporation, Main Services
Table 59: Bechtel Corporation, History
Table 60: Bechtel Corporation, Key Employees
Table 61: Fluor Corporation, Key Facts
Table 62: Fluor Corporation, Main Services
Table 63: Fluor Corporation, History
Table 64: Fluor Corporation, Key Employees
Table 65: Kiewit Corporation, Key Facts
Table 66: Kiewit Corporation, Main Services
Table 67: Kiewit Corporation, History
Table 68: Kiewit Corporation, Key Employee
Table 69: KBR, Inc., Key Facts
Table 70: KBR, Inc., Main Services
Table 71: KBR, Inc., History
Table 72: KBR, Inc., Key Employees
Table 73: Tutor Perini Corporation, Key Facts
Table 74: Tutor Perini Corporation, Main Services
Table 75: Tutor Perini Corporation, History
Table 76: Tutor Perini Corporation, Key Employees
Table 77: Timetric Construction Market Definitions