Surge in investments in large-scale projects and infrastructure development in the region is driving the U.S. construction market demand during the forecast period.

The U.S. Construction Market size was valued at USD 1767.05 billion in 2023, and is predicted to reach USD 2522.43 billion by 2030, at a CAGR of 4% from 2024 to 2030, according to the new research by Next Move Strategy Consulting.

The construction industry in this nation is currently undergoing significant expansion, primarily fueled by a surge in investments in large-scale projects and infrastructure development. Notable megaprojects in 2023 included the Southeast Connector Project in the Dallas-Fort Worth area, the Madison Square Garden Sphere in Las Vegas, the Gordie Howe International Bridge in Detroit, the American Legion Bridge Replacement in Bethesda, the Related Santa Clara Project in Santa Clara, the Hudson Tunnel Project in New York City, and the JFK Airport Expansion in New York City. These substantial endeavors are pivotal in driving the growth of the country's construction market.

However, the construction market encounters substantial challenges due to the complex network of government regulations and permitting procedures, that often require various permits and approvals from local, regional, and national authorities. These permits encompass zoning regulations, environmental assessments, building code compliance, safety standards, and other regulatory prerequisites.

Delays in obtaining permits, bureaucratic inefficiencies, and regulatory inconsistencies across jurisdictions can significantly prolong project timelines and escalate costs. Moreover, fluctuations in regulations or unforeseen policy changes can disrupt ongoing projects and discourage future investments.

For instance, the United States Environmental Protection Agency (EPA) oversees various aspects of the construction sector, including air, lead, waste, and water regulations. The EPA's compliance assistance centers offer resources to manage environmental responsibilities during demolition, reduce and recycle construction and demolition materials, and dispose of refrigeration and air-conditioning equipment.

Conversely, digital transformation and the adoption of Building Information Modeling (BIM) are revolutionizing the construction sector by integrating advanced technologies to enhance efficiency, accuracy, and collaboration across various projects. BIM, a sophisticated 3D modeling tool, enables stakeholders to generate and manage digital representations of structures and infrastructure, improving coordination and communication among project teams.

For example, in September 2022, the National Institute of Building Sciences (NIBS) launched the U.S. National Building Information Management (BIM) Program to transform the construction industry and achieve unprecedented levels of industrial efficiency through digitalization. This program aims to address the low level of digitalization in the U.S construction industry, that impedes the transformation of lifecycle work processes to become more efficient, cost-effective, resilient, and safer to build and maintain.

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Several key market players operating in the U.S. construction industry include China State Construction Engineering Corp. Ltd. (CSCEC), China Railway Group Ltd. (CREC), China Railway Construction Corp. Ltd. (CRCC), China Communications Construction Group Ltd. (CCCC), Metallurgical Corporation of China Ltd. (MCC), Power Construction Corp. of China, Vinci SA, China Energy Engineering Corp. (CEEC), Shanghai Construction Group (SCG), Bouygues Group, and others.

Key Insights from the U.S. Construction Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the U.S. construction market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The report provides an analysis of the U.S construction market share and competitive landscape of key players in the industry.