Construction Market in US 2015 to grow at a CAGR of 4.5% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/28/2015 -- Construction Market in the US 2015-2019The US is the second largest construction market after China. Construction Market Outlook in the US to grow at a CAGR of 4.5% over the period 2014-2019. Post the housing market crash and financial crisis of 2008-2009, the construction market in the US is gaining momentum. The market is witnessing rapid construction activities led by the government initiatives to strengthen the country's infrastructure; boom in the unconventional energy market, primarily shale; change in demographics; and rise in employments among others.
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Commenting on the report, an our analyst said: "Increased focus on green buildings is one of the key trends emerging in the market. Consumers are now inclined toward green buildings for new constructions as well as renovations. A greater focus on both conserving energy and reducing energy costs is leading to the high demand for green buildings in the US."
According to the report, with the advent of hydraulic fracturing and horizontal drilling techniques, energy companies in the US are making huge investments to access unconventional oil and gas resources, primarily shale gas. This is expected to bring in major opportunities for the engineering and construction industry in the US for the next two decades.
Covered in this Report
The report covers current scenario and the growth prospects of the construction market outlook in the US for the period 2015-2019. The market size has been calculated on the basis of the historical contribution of construction to GDP and also considering the current and upcoming construction projects planned in the country.
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The report, Construction Market Outlook in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
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Further, the report states that the construction industry in the US is recovering from a prolonged slump and is facing a shortage of skilled workers. Most workers shifted to other industries such as energy during the housing market crash and recession in 2007-2008.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.