DUBLIN – (BUSINESS WIRE) – The report “Construction in the US – Key Trends and Opportunities through 2025 (Q2 2021)” has been added ResearchAndMarkets.com offer.
The US construction industry is expected to grow 1.8% in 2021 and 3.1% in 2022 before weakening to an average annual growth of 2.2% over the forecast period.
This compares to previous forecasts of 1.4% for this year and 2.8% for next year. The slightly higher growth for 2021 assumes that residential construction will continue to grow in the coming quarters despite persistent supply chain problems such as the scarcity and price increase of building materials, especially lumber, a shortage of skilled workers and expensive land, increasing construction costs for new houses, causing project delays and real estate price inflation crank. The building permits for future residential construction are currently still pending before residential construction, which suggests a moderate increase in residential construction activity in the coming quarters.
The housing sector is the main actor in the US economic recovery from the COVID-19 crisis, has recorded double-digit growth rates since the third quarter of 2020 and is making a significant contribution to the recovery of the economy and the overall construction industry.
The sector continues to be supported by low mortgage rates, strong demand for larger living space and very little housing stock in the market. Data from the US Census Bureau showed that the total value of construction activity increased for the third straight quarter, posting a 2.2% quarter-on-quarter (QoQ) rate in the first quarter of 2021, compared with a 4.7% increase in the fourth Quarter of 2020. This was driven by growth in the residential real estate segment, which was up 5.5% QoQ in the first quarter of 2021, while construction spending on non-residential buildings decreased 0.6%.
On June 24, President Joe Biden reached an agreement with a bipartisan group of senators on an infrastructure bill worth $ 1.2 trillion. The bill, which falls short of the $ 2.3 trillion proposed by the president earlier this year, would free billions of dollars in funding to modernize the country’s roads, railways, airports, ports and broadband, electric car and charging infrastructure To finance buses and other infrastructures over the next eight years.
This report provides in-depth market analysis, information, and insights into the U.S. construction industry including:
Growth prospects for the US construction industry by market, type of project and construction activity
Critical insights into the impact of industry trends and issues as well as an analysis of key risks and opportunities in the US construction industry
Analysis of the mega-project pipeline with a focus on development stages and participants as well as listing of major projects in the pipeline.
Historical (2016-2020) and forecast (2021-2025) evaluations of the construction industry in the USA with details on the main growth drivers.
Segmentation by sector (trade, industry, infrastructure, energy and utilities, institutional and residential) and by sub-sector
Analysis of the mega-project pipeline including a breakdown by development stage across all sectors and forecast expenditure for projects in the existing pipeline.
Lists of major projects and details of leading contractors and consultants
Key topics covered:
2 Construction Industry: At a Glance
3.1 Economic performance
3.2 Political environment and politics
3.4 COVID-19 status
3.5 Risk Profile
4 building prospect
4.1 All constructions
4.2 Commercial building
4.3 Industrial construction
4.4 Infrastructure construction
4.5 Energy and utility construction
4.6 Institutional structure
5 key industry participants
6 hardware store data
Please visit https://www.researchandmarkets.com/r/ld4t7z for more information on this report