Us Construction Industry Statistics

In this post, we will explore key statistics and insights regarding the US construction industry, shedding light on its significant contributions to the economy and its projected growth trends. From the industry’s substantial value to employment figures and future market forecasts, these statistics paint a comprehensive picture of the construction landscape in the United States.

Statistic 1

"The US construction industry has a projected growth rate of 0.8% between 2019 and 2028."

Statistic 2

"In 2020, the construction industry contributed around 4.1% to the U.S. GDP."

Statistic 3

"In 2019, the construction industry in the USA was valued at approximately $1.36 trillion."

Statistic 4

"There were approximately 7.49 million people employed in the construction industry in the USA in 2020."

Statistic 5

"In 2023, the value of the construction market is projected to be $1,804.8 billion in the US."

Statistic 6

"The largest construction market as of 2020 in the U.S. is residential buildings contributing $564.7 billion."

Statistic 7

"The nonresidential building construction is expected to reach $567.4 billion by 2023 in the U.S."

Statistic 8

"New construction put in place is forecast to reach $1.53 trillion by 2022."

Statistic 9

"56% of construction professionals indicate digitization will be their organization's most important trend in 2021."

Statistic 10

"The US heavy and civil engineering construction sector generated over $191 billion in revenue in 2019."

Statistic 11

"Green Building in the U.S. is a $163 billion industry."

Statistic 12

"In 2019, the United States spent $909 billion on public construction."

Statistic 13

"In 2020, the construction equipment industry in the U.S is valued at 39.9 billion U.S. dollars."

Statistic 14

"The highway, street, and bridge construction market in the US is forecasted to reach $108.5 billion in 2022."

Statistic 15

"Digging and drilling equipment is the most rented tool in construction at 22%."

Statistic 16

"Contractors expect private office construction to decline by 3% in 2021."

Statistic 17

"In 2018, the total annual payroll of the US construction industry was $282 billion."

The statistics presented highlight the significant impact and potential growth of the US construction industry. With a projected growth rate and substantial contributions to the GDP, as well as high market values and employment numbers, the industry remains a key player in the country’s economy. The focus on digitization, revenue generation from various sectors within construction, and investment in public infrastructure underscore the dynamic nature of the industry. As trends evolve and challenges arise, such as declining office construction, the construction sector continues to adapt and innovate to maintain its crucial role in driving economic growth and development.