GITNUX MARKETDATA REPORT 2024

Us Construction Industry Statistics [Fresh Research]

In this post, we will explore key statistics highlighting the current state and future projections of the US construction industry. From the industry’s revenue and growth trends to employment figures and regional spending patterns, these statistics provide valuable insights into one of the nation’s vital economic sectors. Let’s dive into the numbers that shape the landscape of construction in the United States.

Statistic 1

"The US construction industry’s overall revenue for 2020 was about $1.4 trillion."

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Statistic 2

"The US construction industry is projected to grow approximately 15% by 2023 resulting in a market worth of $1.6 trillion."

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Statistic 3

"10.7 million Americans are employed in the US construction industry."

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Statistic 4

"The US construction industry contributed 4.1% to the U.S. 2020 GDP."

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Statistic 5

"The US construction industry saw a 3% decrease in value, between 2019 and 2020."

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Statistic 6

"In 2020, New York saw the highest amount of construction spending in the U.S. at $55.5 billion."

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Statistic 7

"The construction of healthcare facilities in the US is expected to reach $41 billion by 2021."

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Statistic 8

"In 2019, around 885,000 single-family homes were constructed in the USA."

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Statistic 9

"Over 31,000 publicly funded construction projects are currently underway in the US."

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Statistic 10

"The green construction market in the US is expected to reach $224.4 billion by 2024."

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Statistic 11

"With over $20 billion in spending, California had the most spending on public construction in 2018."

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Statistic 12

"Construction jobs rose to nearly 7.5 million by the end of 2019 in the United States."

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Statistic 13

"Construction costs increased by about 5% in 2019 compared to 2015."

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Statistic 14

"The U.S. residential construction market was worth $507.2 billion in 2020."

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Statistic 15

"The use of drones in the US construction industry increased by 239% year over year in 2018."

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Statistic 16

"The U.S. construction industries use around 60% of all tower cranes in operation worldwide."

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Overall, the US construction industry has shown resilience and growth potential despite facing challenges such as a slight decrease in value in 2020. With a strong revenue base, significant contribution to the GDP, and a large workforce, the industry is poised for expansion in the coming years. Notable trends include the rise of green construction, increasing use of technology like drones, and the concentration of construction activities in key states such as New York and California. These statistics highlight the importance and dynamism of the US construction sector, indicating opportunities for further development and innovation in the future.

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