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Industry Landscape
The commercial construction industry in the US is experiencing moderate growth driven by sectors like healthcare, education, and industrial. Despite inflation and interest rate concerns, demand for new facilities and renovations remains strong. Focus on sustainable building practices and technological integration is increasing, while labor shortages and material costs pose ongoing challenges.
Total Assets Under Management (AUM)
Construction Spending in United States
~$2.12 trillion (as of May 2024, seasonally adjusted annual rate for total construction spending in the US)
(1.2% (year-over-year, May 2024) CAGR)
Total construction spending increased slightly.
Residential construction declined.
Non-residential construction saw modest gains.
Total Addressable Market
1.3 trillion USD