Report
US Construction Market 2025-2029
US Construction Market Outlook (2025–2029)
The US construction market is projected to grow by USD 668.5 billion between 2024 and 2029, registering a CAGR of 5.6% during the forecast period.
Market Overview
Market growth is largely driven by population growth and rapid urbanization, especially in developing regions. According to the United Nations, the global urban population is expected to increase by 2.5 billion by 2050, intensifying the demand for housing and infrastructure.
Sustainable construction and green building practices are becoming central to project planning as both governments and consumers prioritize energy efficiency and carbon footprint reduction.
However, a major challenge persists—a shortage of skilled labor. This gap, caused by an aging workforce and underinvestment in vocational training, hampers timely project delivery and increases operational costs.
To address these issues, companies are encouraged to adopt innovative solutions such as modular construction, automation, and advanced construction technologies. Investment in training programs is also essential to build a future-ready workforce.
Industry Trends and Dynamics
The construction industry spans multiple activities—from planning and design to execution, inspection, and maintenance. Key trends include:
- Construction Industry 4.0: Integration of AR/VR, drones, laser scanning, and remote monitoring
- Sustainability Focus: Emphasis on green materials, LEED certification, water conservation, and energy performance
- Technology Adoption: Use of digital twins, AI, cloud-based project management, and construction analytics
- Process Efficiency: Enhanced cost estimation, risk analysis, and project scheduling
- Circular Economy Practices: Focus on waste reduction, recycling, and smart procurement
Compliance with building codes, safety regulations, and environmental standards remains fundamental to industry operations.
Residential Construction Insights
The residential segment is set to experience substantial growth, supported by:
- Rising demand for single-family homes due to suburban expansion
- Government incentives for first-time homebuyers despite high mortgage rates
- Ongoing urban development projects and housing permits (e.g., 1.47 million permits issued in Jan 2024 per US Census Bureau)
Associations within the sector are pushing for workforce development, emphasizing skills training, site supervision, and safety standards.
Other Market Drivers and Challenges
- Technology-driven transformation is improving energy efficiency, waste control, and quality assurance
- Public-private partnerships (PPPs) and construction financing are enabling large-scale infrastructure development
- Material innovations such as precast concrete and modular components are gaining adoption
- Ongoing challenges include labor shortages, regulatory hurdles, contractual disputes, and construction insurance needs
Additional areas shaping the market include transportation infrastructure, project permits, equipment rental, and cost management strategies.
Table of Content
1 Executive Summary
1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Country Market Characteristics
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Product Type
- Executive Summary - Chart on Market Segmentation by Modality
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
- Overview on factors of disruption
2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
3.2 Market characteristics
- Market characteristics analysis
3.3 Value chain analysis
- Value chain analysis
4 Market Sizing
4.1 Market definition
- Offerings of companies included in the market definition
4.2 Market segment analysis
- Market segments
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US: Year-over-year growth 2024-2029 (%)
- Data Table on US: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
5.1 Construction Market in US 2019 - 2023
- Historic Market Size - Data Table on Construction Market in US 2019 - 2023 ($ billion)
5.2 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ billion)
5.3 Product Type segment analysis 2019 - 2023
- Historic Market Size - Product Type Segment 2019 - 2023 ($ billion)
5.4 Modality segment analysis 2019 - 2023
- Historic Market Size - Modality Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
6.1 AI Impact on Construction Market in US
7 Five Forces Analysis
7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Type
8.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
8.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
8.3 Residential construction - Market size and forecast 2024-2029
- Chart on Residential construction - Market size and forecast 2024-2029 ($ billion)
- Data Table on Residential construction - Market size and forecast 2024-2029 ($ billion)
- Chart on Residential construction - Year-over-year growth 2024-2029 (%)
- Data Table on Residential construction - Year-over-year growth 2024-2029 (%)
8.4 Commercial construction - Market size and forecast 2024-2029
- Chart on Commercial construction - Market size and forecast 2024-2029 ($ billion)
- Data Table on Commercial construction - Market size and forecast 2024-2029 ($ billion)
- Chart on Commercial construction - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial construction - Year-over-year growth 2024-2029 (%)
8.5 Infrastructure construction - Market size and forecast 2024-2029
- Chart on Infrastructure construction - Market size and forecast 2024-2029 ($ billion)
- Data Table on Infrastructure construction - Market size and forecast 2024-2029 ($ billion)
- Chart on Infrastructure construction - Year-over-year growth 2024-2029 (%)
- Data Table on Infrastructure construction - Year-over-year growth 2024-2029 (%)
8.6 Industrial construction - Market size and forecast 2024-2029
- Chart on Industrial construction - Market size and forecast 2024-2029 ($ billion)
- Data Table on Industrial construction - Market size and forecast 2024-2029 ($ billion)
- Chart on Industrial construction - Year-over-year growth 2024-2029 (%)
- Data Table on Industrial construction - Year-over-year growth 2024-2029 (%)
8.7 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)
9 Market Segmentation by Product Type
9.1 Market segments
- Chart on Product Type - Market share 2024-2029 (%)
- Data Table on Product Type - Market share 2024-2029 (%)
9.2 Comparison by Product Type
- Chart on Comparison by Product Type
- Data Table on Comparison by Product Type
9.3 Buildings - Market size and forecast 2024-2029
- Chart on Buildings - Market size and forecast 2024-2029 ($ billion)
- Data Table on Buildings - Market size and forecast 2024-2029 ($ billion)
- Chart on Buildings - Year-over-year growth 2024-2029 (%)
- Data Table on Buildings - Year-over-year growth 2024-2029 (%)
9.4 Engineering - Market size and forecast 2024-2029
- Chart on Engineering - Market size and forecast 2024-2029 ($ billion)
- Data Table on Engineering - Market size and forecast 2024-2029 ($ billion)
- Chart on Engineering - Year-over-year growth 2024-2029 (%)
- Data Table on Engineering - Year-over-year growth 2024-2029 (%)
9.5 Market opportunity by Product Type
- Market opportunity by Product Type ($ billion)
- Data Table on Market opportunity by Product Type ($ billion)
10 Market Segmentation by Modality
10.1 Market segments
- Chart on Modality - Market share 2024-2029 (%)
- Data Table on Modality - Market share 2024-2029 (%)
10.2 Comparison by Modality
- Chart on Comparison by Modality
- Data Table on Comparison by Modality
10.3 Private - Market size and forecast 2024-2029
- Chart on Private - Market size and forecast 2024-2029 ($ billion)
- Data Table on Private - Market size and forecast 2024-2029 ($ billion)
- Chart on Private - Year-over-year growth 2024-2029 (%)
- Data Table on Private - Year-over-year growth 2024-2029 (%)
10.4 Public - Market size and forecast 2024-2029
- Chart on Public - Market size and forecast 2024-2029 ($ billion)
- Data Table on Public - Market size and forecast 2024-2029 ($ billion)
- Chart on Public - Year-over-year growth 2024-2029 (%)
- Data Table on Public - Year-over-year growth 2024-2029 (%)
10.5 Market opportunity by Modality
- Market opportunity by Modality ($ billion)
- Data Table on Market opportunity by Modality ($ billion)
11 Customer Landscape
11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Drivers, Challenges, and Opportunity/Restraints
12.1 Market drivers
12.2 Market challenges
12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
12.4 Market opportunities/restraints
13 Competitive Landscape
13.1 Overview
13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
13.3 Landscape disruption
- Overview on factors of disruption
13.4 Industry risks
- Impact of key risks on business
14 Competitive Analysis
14.1 Companies profiled
- Companies covered
14.2 Company ranking index
- Company ranking index
14.3 Market positioning of companies
- Matrix on companies position and classification
14.4 AECOM
- AECOM - Overview
- AECOM - Business segments
- AECOM - Key news
- AECOM - Key offerings
- AECOM - Segment focus
- SWOT
14.5 Balfour Beatty Plc
- Balfour Beatty Plc - Overview
- Balfour Beatty Plc - Business segments
- Balfour Beatty Plc - Key offerings
- Balfour Beatty Plc - Segment focus
- SWOT
14.6 Bechtel Corp.
- Bechtel Corp. - Overview
- Bechtel Corp. - Product / Service
- Bechtel Corp. - Key news
- Bechtel Corp. - Key offerings
- SWOT
14.7 Bouygues Construction SA
- Bouygues Construction SA - Overview
- Bouygues Construction SA - Product / Service
- Bouygues Construction SA - Key offerings
- SWOT
14.8 Clark Construction Group LLC
- Clark Construction Group LLC - Overview
- Clark Construction Group LLC - Product / Service
- Clark Construction Group LLC - Key offerings
- SWOT
14.9 DPR Construction
- DPR Construction - Overview
- DPR Construction - Product / Service
- DPR Construction - Key offerings
- SWOT
14.10 Fluor Corp.
- Fluor Corp. - Overview
- Fluor Corp. - Business segments
- Fluor Corp. - Key news
- Fluor Corp. - Key offerings
- Fluor Corp. - Segment focus
- SWOT
14.11 Kiewit Corp.
- Kiewit Corp. - Overview
- Kiewit Corp. - Product / Service
- Kiewit Corp. - Key offerings
- SWOT
14.12 MasTec Inc.
- MasTec Inc. - Overview
- MasTec Inc. - Business segments
- MasTec Inc. - Key offerings
- MasTec Inc. - Segment focus
- SWOT
14.13 PCL Constructors Inc.
- PCL Constructors Inc. - Overview
- PCL Constructors Inc. - Product / Service
- PCL Constructors Inc. - Key offerings
- SWOT
14.14 Skanska AB
- Skanska AB - Overview
- Skanska AB - Business segments
- Skanska AB - Key offerings
- Skanska AB - Segment focus
- SWOT
14.15 STO Building Group
- STO Building Group - Overview
- STO Building Group - Product / Service
- STO Building Group - Key offerings
- SWOT
14.16 Turner Construction Co.
- Turner Construction Co. - Overview
- Turner Construction Co. - Product / Service
- Turner Construction Co. - Key offerings
- SWOT
14.17 Tutor Perini Corp.
- Tutor Perini Corp. - Overview
- Tutor Perini Corp. - Business segments
- Tutor Perini Corp. - Key offerings
- Tutor Perini Corp. - Segment focus
- SWOT
14.18 Vinci
- Vinci - Overview
- Vinci - Business segments
- Vinci - Key offerings
- Vinci - Segment focus
- SWOT
Research Methodology
All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.
1. Secondary Research
Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:
- Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
- Academic journals and case studies
- Company reports, investor presentations, and press releases
- Government databases and regulatory publications
- Trade publications, industry blogs, and news articles
2. Primary Research
To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.
a. Expert Consultations (Qualitative Primary Research)
In-depth interviews were conducted with a wide range of industry stakeholders, including:
- Industry experts and consultants
- Senior executives and decision-makers
- Product managers and supply chain professionals
- Academic researchers and analysts
b. Surveys and Questionnaires (Quantitative Primary Research)
Structured surveys were distributed among:
- End-users/consumers
- Retailers and distributors
- Business-to-business (B2B) buyers
3. Data Validation and Triangulation
Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.
4. Analytical Tools and Frameworks
Various analytical models were applied to interpret the collected data:
- SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
- Porter’s Five Forces to assess market competitiveness
- PESTLE Analysis to evaluate external macroeconomic influences
- Forecasting Models using historical data trends and regression analysis
Conclusion
The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.
For detailed methodology for this particular report please write to us on info@syovi.com