Based on planned construction development over the next few years, non-residential construction put in place is expected to reach 590.4 billion U.S. dollars in 2023 in the United States. Non-residential construction can include segments like lodging, office, commercial, health care, and education. Non-residential construction will continue to improve if government spending continues to improve allowing communities to contribute more resources to infrastructure. The federal government must continue its input into improving infrastructure as infrastructure needs are expected to skyrocket. Generally, the construction industry in the United States is strongly linked to the economic wellbeing of the country.
Construction industry needs
Within the non-residential building industry, commercial building has experienced a comfortable growth over recent years. However, the construction industry faces challenges such as shortage of skilled labor and rising material costs due to global trade wars. The modernization of a generally typically conservative industry will be important in the near future to support customer demands as well as to improve operation models. Integrating sustainable building processes and features in projects as well as establishing technological advancements like building information modeling (BIM) will be essential for the future of the construction industry.
Forecast for new non-residential construction put in place in the U.S. from 2011 to 2023 (in billion U.S. dollars)*
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FMI Corporation. (April 8, 2019). Forecast for new non-residential construction put in place in the U.S. from 2011 to 2023 (in billion U.S. dollars)* [Graph]. In Statista. Retrieved July 14, 2020, from https://www.statista.com/statistics/226486/projected-value-of-total-us-nonresidential-construction/
FMI Corporation. "Forecast for new non-residential construction put in place in the U.S. from 2011 to 2023 (in billion U.S. dollars)*." Chart. April 8, 2019. Statista. Accessed July 14, 2020. https://www.statista.com/statistics/226486/projected-value-of-total-us-nonresidential-construction/
FMI Corporation. (2019). Forecast for new non-residential construction put in place in the U.S. from 2011 to 2023 (in billion U.S. dollars)*. Statista. Statista Inc.. Accessed: July 14, 2020. https://www.statista.com/statistics/226486/projected-value-of-total-us-nonresidential-construction/
FMI Corporation. "Forecast for New Non-residential Construction Put in Place in The U.S. from 2011 to 2023 (in Billion U.S. Dollars)*." Statista, Statista Inc., 8 Apr 2019, https://www.statista.com/statistics/226486/projected-value-of-total-us-nonresidential-construction/
FMI Corporation, Forecast for new non-residential construction put in place in the U.S. from 2011 to 2023 (in billion U.S. dollars)* Statista, https://www.statista.com/statistics/226486/projected-value-of-total-us-nonresidential-construction/ (last visited July 14, 2020)
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