Published on : Feb 10, 2017
ALBANY, NY, FEb 10, 2017: The research report provides an immaculate understanding of the operating environment of the industrial construction sector in the U.S. It presents an extensive coverage of the historic and estimated forecast market value data for the construction industry. It also includes a detailed description of the drivers, restraints, and opportunities for the market and analysis of the extent of their impact on the growth. It studies the market for the period between 2011 and 2020.
As the U.S. recuperates from The Great Recession in 2008, the country’s construction industry is also showing strong signs of recovery. Although the recovery is somewhat erratic in nature, the industry exhibits an inflationary growth rate during the forecast period. A decline in the unemployment rates has provided a significant boost to the industrial construction in the U.S. Owing to this, investments in industrial and commercial construction are steadily increasing. Declining unemployment rates are also resulting in a staggering volume of demand for consumer goods and services and rising healthcare expenditure, which is eventually leading to the development of manufacturing facilities and chemical and pharmaceutical plants at a faster pace. The rapidly growing population is also augmenting the market.
Despite the increasing investments, the labor crunch is a primary factor restraining the growth of the industrial construction in the U.S. In addition, the rising labor and material costs are negatively impacting the growth of the market. The skyrocketing costs are compelling several firms to cut down on budgets and consolidate services to clients, creating intense competition for projects in the foreseeable future.
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However, the future of the market looks good with the flourishing oil and gas industry. The emergence of the U.S. as the leading energy exporter in the world is translating into strong and positive economic opportunities for the market. Consequently, the increasing midstream pipeline construction and expanding rail and road construction for energy transport are likely to augur well for the growth of the market. Moreover, the introduction of novel designs and productivity and sharing tools are anticipated to revolutionize industrial construction in the U.S in the forthcoming years.
For a lucid analysis, it segments the market on the basis of construction activity into repair and maintenance, demolition and refurbishment, and new construction. The data for each segment is obtained by analyzing construction activities across several plants, which are chemical and pharmaceutical, manufacturing, metal and material production and processing, and waste processing plants. It serves as a reliable business tool for players operating across the U.S. construction value chain and for new companies considering to enter the market.
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