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. The report sheds light on how the existing players can use this information to gain the competitive edge in the market. Additionally, major industry 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 Bechtel is one of the leading players in the country. Within the US, New York has come up with most of new construction projects. Private construction spending sums to huge amount in the US, in 2014 the amount was USD 687.0 billion which rose to USD 1.0 Trillion by 2015.
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 to 6% to 9% of GDP. In industrial construction, 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. Now ‘the US’ economy has overcome this situation and the US construction industry will show upsurge by 2030 and the expected figure is USD 15.5 trillion.
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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Ankur Gupta, Head Marketing & Communications