January 01, 2020
Construction projects that were once stalled have since accelerated and the residential market has experienced very positive trends that have been instrumental in this construction boom. Private construction spending reached around 992 billion U.S. dollars in 2018. By 2022 new construction is forecast to reach over 1.53 trillion U.S, dollars.
Published by T. Wang, Feb 17, 2020
Based on short-term projections, the U.S. non-residential construction market is expected to grow to 0.9 percent in 2021 compared to the previous year. Growth for this period is expected to be the largest in institutional buildings at two percent and the lowest for commercial buildings at a decrease of 0.2 percent. The United States put in place 452.67 billion U.S. dollars worth of private non-residential buildings in 2018, in contrast to 295.2 billion U.S. dollars of public non-residential construction in the same year.
There are various drivers that impact the non-residential construction market and can be highly dependent on the sector. Demand for leisure travel is expected to increase due to low unemployment and income growth, projecting a promising lodging construction market. The growth in the office building market is largely being guided by corporate relocations and the lack of vacant spaces in major metropolitans. The overall commercial construction market has received increased spending due to growth in e-commerce, gas prices, and interest rates.
Published by T. Wang, Feb 6, 2019
This statistic represents the leading benefits expected from new green building investments as of 2018. During this year, 32 percent of respondents reported higher value at the point of sale as one of the benefits of new green buildings.
January 01, 2020