|Last Quarterly Update:||2/6/2017|
|SIC Codes:||1522, 1531, 1541, 1542, 1629, 1799, 8741|
|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, including industrial plants and commercial and institutional facilities. Major companies include US-based Clark Construction Group, Turner Construction, and Whiting-Turner Contracting, as well as China State Construction Engineering Corporation, Balfour Beatty (UK), HOCHTIEF (Germany), and Skanska (Sweden).
Global construction output of all types exceeds $7 trillion and is expected to reach $15.5 trillion by 2030, according to Global Construction Perspectives and Oxford Economics. China, India, and the US are expected to account for more than half of global construction growth between 2015 and 2030.
The US nonresidential building construction industry includes about 41,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $345 billion.
Nonresidential construction activity depends heavily on corporate and government spending. 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 to engage 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 US industry is highly fragmented, although competition for the largest projects is typically limited to major companies with extensive capabilities and resources.
PRODUCTS, OPERATIONS & TECHNOLOGY
Commercial and institutional buildings account for about 90% of industry revenue; industrial buildings account for the rest. Services include new construction, additions, remodeling, maintenance, and repairs.
Critical components of company operations include ...
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