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Value of U.S. commercial construction from 2002 to 2019

After a noticeable drop in the U.S. commercial construction market during the 2008 Recession, the value of commercial construction that has been put in place has recovered to pre-Recession figures, reaching 85.25 billion U.S. dollars in 2019. The value of construction starts in the U.S. is projected to reach some 135 billion U.S. dollars in 2022. At the beginning of 2019, private offices were the most common types of commercial construction starts in the United States. The popularity of private offices is projected to remain high over the next few years, along with warehouses and shopping/retail facilities.

How does commercial construction differ?

Commercial construction is for the purpose of business through new buildings like offices or a new industrial facility. In the commercial market, contractors must also take into account the needs of other businesses that may also be established within the building. The larger size in commercial construction tends to lead to the utilization of steel as well as other equipment such as cranes. Such equipment also requires skilled personnel for safe and efficient operations.

Value of U.S. commercial construction put in place from 2002 to 2019

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Source

Release date

2020

Region

United States

Survey time period

2002 to 2019

Supplementary notes

The values have been rounded to provide a better understanding of the statistic.

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Statistics on "Commercial property in the U.S."

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