|Last Quarterly Update:||4/15/2013|
|SIC Codes:||1522, 1531, 1541, 1542, 1611, 1622, 1623, 1629, 8741|
|NAICS Codes:||237, 2362|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry construct nonresidential buildings and structures such as highways and dams. Major companies include Bechtel, Fluor, Jacobs Engineering, Peter Kiewit Sons', and Turner Construction (all based in the US) as well as HOCHTIEF (Germany), Skanska (Sweden), and STRABAG (Austria).
Global revenue for construction of all types exceeds $7 trillion. Major countries that account for global construction growth include Australia, Canada, China, India, Indonesia, Russia, and the US.
The US commercial and heavy construction contractors industry includes about 80,000 firms with combined annual revenue of about $545 billion. High growth is forecast for the next two years. Key growth drivers include increased spending by corporations, especially those in the petroleum, power, and health care industries.
Commercial construction includes apartments, office and retail buildings, hotels, schools, public buildings, industrial and manufacturing buildings, highways and bridges, sewers, pipelines, power lines, power plants, and other civil engineering projects.
Demand depends heavily on the health of the US economy, including corporate profits and local government budgets. The profitability of individual companies depends on accurate project bids and efficient operations. Large companies have advantages in their ability to engage in multiple projects simultaneously and in many types of construction. Small companies can compete effectively by specializing, working in a limited geography, or serving as subcontractors on larger projects. The industry is capital-intensive: average annual revenue per worker is more than $350,000. The industry is ...
Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?Learn More About Subscription Options