The energy and utility construction sector will become the second largest segment in 2024 in terms of (real) production value. The residential construction sector is expected to dominate the regional market in terms of (real) production value in 2024. As the construction sector moves towards 2024, it will be crucial to balance sustained growth with the reality of an uncertain economic environment. The North American construction market is forecast to grow at a CAGR of more than 3% during the forecast period. The government plays a critical role in promoting sustainable construction through initiatives such as the Federal Clean Buying Initiative.
The digital transformation of the construction industry is not limited to project management, but extends to the very core of construction processes. The construction sector in Canada is about to register a negative trajectory in 2024 due to the expected fall in the domestic real estate market. According to the International Energy Agency, buildings account for a substantial part of global energy consumption and emissions, highlighting the urgent need for sustainable building practices. This shift towards digitalization is not a mere trend, but a necessary evolution to maintain competitiveness and address the dynamic demands of the construction landscape.
The regional infrastructure construction segment will record double-digit year-on-year growth in 2024 and is expected to follow a similar growth trend over the forecast period. These macroeconomic factors require construction companies to navigate carefully to maintain growth and profitability. This technological leap not only improves efficiency, but it also improves the accuracy and safety of construction projects. The projects are not only limited to traditional construction areas, but they extend to sectors that are fundamental to the future of technology and environmental sustainability.
The most important key figures provide you with a compact summary of the topic of the construction industry in the US. UU. The construction industry increasingly prioritizes sustainability, driven by evolving market demands, environmental regulations, and the inherent need to adapt to a changing global climate. The regional commercial construction sector will record stable growth, with an expected average annual growth rate of more than 1% between 2025 and 2028.
