- ‘The US’ is second largest construction market worldwide with a market share of around 10%
- American construction industry will surpass China over the next 15 years.
Ken Research recently published a report on, “Project Insight-Industrial Construction Projects in the Americas” which discusses detailed analysis of construction projects, leading players, distribution channels and consumer trends. Additionally, the report sheds light on how the existing players can use this information to gain the competitive edge in the market. Major trends and drivers have also been covered, describing the market penetration and future potential of each product segment.
‘The US’ is second largest construction market worldwide with a market share of around 10% and the largest US based construction firm is Bechtel. Within the US, New York has come up with most of new construction projects.
Industrial construction comprises of mills and manufacturing plants, chemical and pharmaceutical plants, refineries, power generation, metal and material production plants and manufacturing plants. In developed countries, industrial construction contributes 6% to 9% of GDP. In industrial construction sector, at a time, there used to be many ongoing projects at various stages of development say operational projects, on hold projects etc. The timing and size of these projects influence market forecasts. Growth in industrial construction is expected to be 3% by the end of 2016 and expected to follow an upward trend in the near future .These industrial construction projects lead to economic growth and long term benefits. During great recession, construction industry suffered due to lack of funds as excess funds that could be channeled into building projects dried up. The Americas accounted for USD 541.6 billion of industrial construction projects, with the largest economy, the US, leading with projects valued at USD 297.0 billion.
Over the last years, China had been considered as the construction hub but according to estimates growth in American construction industry will surpass china over next 15 years. For the growth in America’s construction industry, America’s southern states are the main contributor. They are the engine for the growth of this sector. Estimates show that the three nations ‘the US’, India and China combined will contribute more than half of world’s construction output over the next two decades. This industrial construction is opening doors for employment opportunities everywhere.
Key Topics Covered in the Report:
- Detailed analysis of American Industrial construction industry
- Value and volume analysis for American Industrial construction industry
- Historic and Forecast value analysis by category
- Retail landscape and key distribution channels
- Detailed profiles of leading retailers in America
- Key issues and trends in the construction industry
- Consumer trend framework
- Analysis of mega-trends
- Profiling of new projects launched in the American Industrial construction industry
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