With expenditures reaching over 1,162 billion U.S. dollars, the United States is the one of the largest construction market worldwide. Within the United States, most new construction projects are coming on stream in New York, which tops the list regarding construction expenditure in American cities. Bechtel is currently one of the largest U.S.-based construction firm. The construction and engineering company is headquartered in San Francisco and was one of only two North American companies to make it into the top fifteen list of the world’s largest construction contractors, based on 2015 revenues. This particular ranking was dominated by Chinese and European contractors.
In the United States, private construction spending reached around 824 billion U.S. dollars in 2015. New construction put in place is forecast to reach almost 1.4 trillion U.S. dollars by 2020. After the collapse of oil prices, the demand in the engineering and construction sector has slowed. Political and policy changes under the new White House government will also inevitably alter the construction industry. A downturn in business across the national construction industry will likely see companies focus more heavily on the South and Midwest regions. Aging infrastructure has also become a greater concern in the U.S. and a focus on updating infrastructure is expected.
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