Construction: United States

Report Overview

This report forecasts to 2023 and 2027 US construction expenditures in nominal and real (inflation-adjusted) US dollars. Total construction expenditures in nominal and real terms are segmented by market in terms of: residential building (new single-unit housing, new multiple-unit housing, improvements), commercial building (office, trade, and lodging; institutional; industrial; transportation; and other commercial buildings such as public safety and recreation), and nonbuilding (highways and streets, other transportation, sewer and water supply, power, telecommunications, and other nonbuilding construction such as breakwater systems and dams). Total expenditures in nominal terms are also segmented by region as follows: South, West, Midwest, and Northeast.

To illustrate historical trends, total expenditures and the various segments are provided in annual series from 2012 to 2022.

The scope of this report represents new construction and improvements such as additions, alterations, and major replacements (e.g., heating systems). Maintenance and repairs for existing structures and service facilities are excluded. Also excluded are land acquisition costs, drilling of gas and oil wells, and digging and shoring of mines.

As defined by the US Census Bureau, expenditures represent architectural and engineering costs; labor, material, and overhead costs; interest and taxes paid during construction; and contractors' profits.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.

Related NAICS Codes

Table of Contents

HIGHLIGHTS

• Historical Trends
• Key Economic Indicators
• Interest Rate Trends

• Residential Building
• Commercial Building
• Nonbuilding

• South
• West
• Midwest
• Northeast

• Industry Characteristics
• Market Leaders

• Scope
• Sources
• Industry Codes
• Freedonia Methodology
• Resources

• Figure 1 | Key Trends in US Construction Expenditures, 2022 - 2027
• Figure 2 | US Nominal Construction Expenditures Trends, 2012 - 2022
• Figure 3 | US Real Construction Expenditures Trends, 2012 - 2022
• Table 1 | Key Indicators for US Construction Expenditures, 2012 - 2027
• Figure 4 | US Interest Rate Trends, 2012 - 2022 (%)
• Table 2 | US Interest Rate Trends, 2012 - 2022 (%)
• Figure 5 | US Nominal Construction Expenditures by Market, 2012 - 2027 (US$ bil)
• Table 3 | US Nominal Construction Expenditures by Market, 2012 - 2027 (US$ bil)
• Table 4 | US Real Construction Expenditures by Market, 2012 - 2027 (2012US$ bil)
• Figure 6 | US Nominal Construction Expenditures by Market, 2012 - 2027 (% of US$ bil)
• Figure 7 | US Nominal Construction Expenditures by Region, 2012 - 2027 (US$ bil)
• Table 5 | US Nominal Construction Expenditures by Region, 2012 - 2027 (US$ bil)
• Figure 8 | US Nominal Construction Expenditures by Region, 2012 - 2027 (%)
• Table 6 | Leading Participants in the US Construction Industry by Market
• Table 7 | NAICS & SIC Codes Related to Construction