United States Construction Market Report 2022-2026

This report forecasts to 2022 and 2026 US construction expenditures in nominal and real (inflation-adjusted) US dollars. Total construction expenditures in nominal and real terms are segmented by market in terms of: residential building (new single-unit housing, new multiple-unit housing, and improvements), commercial building (office, trade, and lodging; institutional; industrial; transportation; and other commercial buildings such as public safety and recreation), and nonbuilding (highways, streets, and other transportation; power; sewer and water; telecommunication; and other nonbuilding construction such as breakwater systems and dams). Total expenditures in nominal terms are also segmented by region as follows: South (South Atlantic, West South Central, East South Central), West (Pacific, Mountain), Midwest (East North Central, West North Central), and Northeast (Middle Atlantic, New England).

To illustrate historical trends, total expenditures and the various segments are provided in annual series from 2011 to 2021.

The scope of this report represents new construction and improvements such as additions, alterations, and major replacements (e.g., heating systems). Maintenance and repairs for existing structures and service facilities are excluded. Also excluded are land acquisition costs, drilling of gas and oil wells, and digging and shoring of mines.

As defined by the US Census Bureau, expenditures represent architectural and engineering costs; labor, material, and overhead costs; interest and taxes paid during construction; and contractors' profits.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.