The U.S. construction market hit USD 1.90 trillion in 2024 and is forecasted to grow at a 4.40% CAGR to USD 2.92 trillion by 2034. Key trends include rapid infrastructural development, technology integration like AI and IoT, and green building demand. Major players include Hensel Phelps, Lennar, and Kiewit Corp.
Dublin, Aug. 27, 2025 (GLOBE NEWSWIRE) — The “United States Construction Market Size Analysis Report – Market Share, Forecast Trends and Outlook (2025-2034)” report has been added to ResearchAndMarkets.com’s offering.
The United States construction market size reached approximately USD 1.90 Trillion in 2024. The market is projected to grow at a CAGR of 4.40% between 2025 and 2034, reaching a value of around USD 2.92 Trillion by 2034.
Construction is the term that refers to the whole process of building or assembling physical structures, such as buildings, bridges, roads, and other infrastructure. It involves a series of activities, including planning, design, procurement of materials and labour, and the actual physical construction. A construction project can employ professionals from various fields, including architects, engineers, contractors, project managers, and various skilled tradespeople.
The primary factor responsible for the United States construction market growth is the rising infrastructural development projects in the country. The government is introducing various initiatives aimed at upgrading and expanding infrastructure as the country’s economy relies on the vast infrastructural network. This trend is further bolstered by the increasing development of manufacturing facilities for electronic products and components and the emphasis on modernising ageing infrastructure.
Some major United States construction market trends are rapid technological advancements and the increasing adoption of innovative technologies in the construction sector. Technologies such as artificial intelligence, building information modelling (BIM) software, 3D printing, and augmented reality are used in construction activities to improve project efficiency and reduce errors while enabling a collaborative approach.
The United States construction market demand is anticipated to surge in the coming years owing to the rising development of smart buildings. The integration of the Internet of things (IoT) can enable easy control of various systems, such as HVAC, lighting, and security. This trend is further enhanced by the rising focus on increasing energy efficiency.
Market Share by Construction Type
Additions in construction are expected to hold a major portion of the United States construction market share in the coming years. Additions refer to the process of expanding or enhancing an existing structure or building. The government has recognised the necessity to upgrade decades-old infrastructure and is increasingly investing to upgrade the vast network of infrastructure comprised of roads and bridges to freight rail and ports to electrical grids and internet provision.
Market Share by End Use
According to the United States construction market analysis, commercial construction is likely to experience significant growth during the forecast period. Commercial construction refers to the development of office spaces, manufacturing plants, medical centres, and shopping centres, among others. The increasing establishment of private firms and shops in developing states of the country provides substantial scope for market expansion. Furthermore, commercial construction activities are expected to surge in the coming years with the increasing demand for green buildings in the coming years.
Competitive Landscape
The comprehensive report provides an in-depth assessment of the market based on Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States construction market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Hensel Phelps Construction Company
Hensel Phelps Construction Company is a leading construction company based in the United States. The company has been operating in the sector since 1937 and has expertise in a variety of project types, including healthcare, government, education, hospitality and leisure, and industrial, among others. It places a strong emphasis on incorporating innovative construction technologies and practices.
Lennar Corporation
Lennar Corporation is one of the largest and most well-known residential construction and real estate development companies in the United States. Founded in 1954, the company has played a significant role in shaping the American housing market. It constructs a diverse range of homes, including single-family homes, townhomes, condominiums, and active adult communities.
Kiewit Corporation
Kiewit Corporation is a major construction, engineering, and mining company based in the United States. Established in 1884, the company has grown into one of the largest and most successful construction firms in North America. The company has built a reputation for its expertise in large-scale construction projects, which include projects such as highways, bridges, and airports, as well as energy-related projects.
Other United States construction market players include D.R. Horton, Inc., Tutor Perini Corporation, PCL Constructors Inc., Kajima Corporation, Hochtief AG, Pultegroup, Inc., and NVR, Inc. (Ryan Homes), among others.
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