The North America infrastructure construction market size is estimated to touch $371.6 billion in 2023, according to a new report by GlobalData Plc. The government-funded schemes and projects are likely to push the progress of infrastructural development, resulting in the North America infrastructure construction market registering a CAGR of 6.9% over the forecast period.
North America Infrastructure Construction Market Share by Sectors, 2019 – 2026 (%)
North America infrastructure construction market outlook report is available with GlobalData Now! Download a FREE sample
North America Infrastructure Market FAQs
- What was the global North America infrastructure construction market size in 2023?
The North America infrastructure construction market size is estimated to be $371.6 billion in 2023.
- What is the North America infrastructure construction market growth rate?
The infrastructure construction market in North America is expected to grow at a CAGR of 6.9% during 2022-2026.
- What are the key sectors in the North America infrastructure construction market?
The key sectors in the North America infrastructure construction market are roads, railways, electricity and power, water and sewage, and others.
- Which are the key countries in the North America infrastructure construction market?
The key countries in the North America infrastructure construction market are the US and Canada.
For all your further queries, read our free sample report
North America Infrastructure Construction Market Dynamics
North America infrastructure construction sector in terms of construction output value (Real) is expected to be valued at $371.6 billion in 2023. The year-on-year (Y-o-Y) growth is estimated at 11.7% in 2023 primarily backed by increased investment in road project developments in the US. According to the US Census Bureau, the spending on highway and street construction rose sharply by 9.1% annually in 2022 in nominal terms, representing an increase of 10.5% over the values spent in the pre-pandemic levels of 2019.
Learn about the North America infrastructure construction market dynamics by viewing report sample right here!
North America Infrastructure Construction Report Highlights
- The North America infrastructure construction market is projected to grow at a compound annual growth rate of 6.9% over the forecast period. The advancements towards infrastructural rehabilitation and modernization are expected to drive the regional market growth over the predicted timeline.
- The electricity and power segment is projected to dominate the regional market share in terms of construction output value in 2023. The transition towards clean energy sources is likely to benefit segmental growth over the near future. The roads segment growth is estimated to witness the fastest growth over the predicted timeline. The segmental average annual growth of this category is predicted to remain at 13.0% from 2024 to 2026.
- The US is the largest regional market in terms of project pipeline as well as construction output value in 2023. The country accounted for more than 81.0% of the total regional pipeline followed by Canada at less than 19.0%. The infrastructure construction sector in the US is expected to increase by 11.9% this year, aided by increased investments and steady progress in renewable project developments.
- Canada is also increasing public investment in renewable energy projects as a part of the ‘Growth Plan’ between 2021-2023, CAD2.5 billion ($2 billion) has been earmarked for clean energy projects. Neoen, a French renewable energy company, announced in January 2023 that it begun the construction of a 93MW solar power plant in Starland county, Alberta.
Unlock additional market dynamics impacting the North America infrastructure construction market growth by requesting a sample PDF
North America Infrastructure Construction Market Scope Insights
GlobalData Plc has segmented the North America infrastructure construction market report by sectors and countries:
North America Infrastructure Construction Sectors Outlook (Value, $ Billion, 2016-2026)
- Electricity and Power
- Railway
- Road
- Water and Sewage
- Others
North America Infrastructure Construction Countries Outlook (Value, $ Billion, 2016-2026)
- Canada
- US
Know segment-wise insights in our PDF sample
Related Reports
- Infrastructure Market Size, Trends and Growth Forecast by Key Regions and Countries, 2021-2026
- United States (US) Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
- Canada Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
About us
GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.
Contact Information:
GlobalData Mark Jephcott Head of PR EMEA [email protected] cc: [email protected] +44 (0)207 936 6400
Tags:
Reportedtimes, Extended Distribution, iCN Internal Distribution, Research Newswire, English