GITNUX MARKETDATA REPORT 2024

Residential Construction Industry Statistics [Fresh Research]

With sources from: energystar.gov, ceicdata.com, tradingeconomics.com, ibisworld.com and many more

In this post, we will explore a comprehensive set of statistics regarding the residential construction industry, shedding light on key figures and trends in the United States and several other countries around the world. From the economic value of the industry to employment numbers and growth projections, these statistics provide valuable insights into the current landscape of residential building construction globally.

Statistic 1

"The residential building construction industry was worth $523 billion in the US in 2019."

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Statistic 2

"The residential construction industry is projected to see a growth rate of 4.1% from 2020-2027."

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Statistic 3

"In 2019, new residential construction in the United States added dollar value of about $568.8 billion."

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Statistic 4

"In 2020, single-family homes accounted for approximately 74% of residential construction."

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Statistic 5

"In 2018, there were 348,000 companies in the residential building construction industry."

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Statistic 6

"Residential construction spending in the U.S is expected to reach $612.3 billion by 2022."

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Statistic 7

"In 2021, multifamily construction spending in the U.S. was about $80.4 billion."

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Statistic 8

"California leads U.S states with $22.5 billion spent on residential construction in 2020."

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Statistic 9

"In 2020, residential construction employed approximately 3 million people in the United States."

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Statistic 10

"In 2018, energy-efficient home construction comprised 23% of all residential construction in the United States."

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Statistic 11

"In Canada, the projected growth of residential construction between 2021–2030 is 0.3% annually."

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Statistic 12

"In India, the residential construction industry is expected to reach a size of $1,345.6 billion by 2027."

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Statistic 13

"About 5,000 new homes were built in Ireland in the fourth quarter of 2020."

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Statistic 14

"In Germany, approximately 380,000 residential units were completed in 2020."

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Statistic 15

"In Japan, residential construction permits decreased by 4.5% year-on-year to 36,269 units in February 2021."

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Statistic 16

"China’s residential buildings under construction area has reached 6.45 billion square meters in 2020."

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Interpretation

The residential construction industry in the United States has demonstrated significant economic importance and growth potential based on the available statistics. With a substantial market value of $523 billion in 2019 and a projected growth rate of 4.1% from 2020 to 2027, the sector plays a crucial role in the overall economy. The data also highlight key trends such as the dominance of single-family homes in construction, the employment of approximately 3 million people in the industry, and the increasing focus on energy-efficient home construction. Furthermore, the statistics from other countries like Canada, India, Ireland, Germany, and Japan provide a broader perspective on the global landscape of residential construction.

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