Latest News- Commercial Construction Market in US: Private construction is expected to lead the Sector segment during 2025-2029

The Commercial Construction Market in US is being driven by Increase in construction of green buildings

The Commercial Construction Market in US is expected to grow at a CAGR of 2.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 191 billion. In the realm of commercial construction, the rise of smart cities in the United States presents significant opportunities for growth. Smart cities, characterized by the integration of technology and communication systems, necessitate advanced infrastructure development, particularly in transportation and traffic management. This trend is driving the demand for the construction of sophisticated road network systems. Companies specializing in this market are poised to benefit from this trend, as the federal government's smart city initiatives gain momentum. The focus is on expanding and upgrading existing roadways to align with the vision of these innovative urban developments. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Sector
  • Private construction
  • Public construction
• Type
  • Building
  • Others
• End-user
  • Office buildings
  • Retail spaces
  • Hotels and hospitality
  • Healthcare facilities
  • Others
• Geography
  • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in construction of green buildings
• Expanding manufacturing and distribution facilities in US
• Booming real estate sector in US

However, the market also witnesses some limitations, which are as follows:

• Lack of workforce in construction industry
• Rise in cost of construction
• Fluctuations in building material prices

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Market Scope in Commercial Construction Market in US Research Report

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Research Analysis Overview

The Commercial Construction Market in the US is experiencing a surge in sectors like Repair and Maintenance, Refurbishment and Demolition, and Urbanization. Office Buildings, Retail Buildings, Outdoor Leisure Facilities, and Mixed-use Developments are undergoing Renovation and Retrofitting for Energy-saving designs. Urban Regeneration projects, Infrastructure Development programs, and Warehouses, Data Centers, Hotels are also in focus. However, Cost escalation due to Fluctuating material prices, labor shortages, and shrinking labor force pose challenges. Water Infrastructure and building material prices, including lumber, have increased, leading to longer Product lead times. The Federal Reserve's Inflation and the labor market's impact on investments add to the complexity.

Market Research Overview

The commercial construction market in the US encompasses engineering service providers and EPC contractors specializing in non-residential projects, such as Repair and Maintenance, Refurbishment and Demolition, Office Buildings, Retail Buildings, Outdoor Leisure Facilities, and Urbanization. Market expansion is driven by escalating investments in urban infrastructure, necessitating the development of energy-efficient designs, Renovation, and retrofitting to accommodate growing populations and increasing demand for transportation, communications services, and utilities like water and electricity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/