65 Must-Know Construction Statistics for 2020

Construction has always been one of the top revenue-generating industries in the world — the United States construction market, in particular, is one of the largest. Despite the size and scope of the industry, it is constantly changing and adapting to the current economic and social climate. Currently, we are witnessing the post-recession construction boom starting to slow, but by no means is the industry stagnant.

There is sustainable growth throughout many sectors of construction, especially in the private development of single-family homes and home improvement projects. The rapid expansion of metropolitan cites is increasing the demand for commercial construction projects. The workplace is changing as well, with an increase in minority and female representation. New technologies and construction trends such as drone mapping and building information modeling software are creating new solutions for old inefficiencies and increasing safety on the job site.

This doesn’t mean that the industry is without its challenges. There is still an ongoing labor shortage for skilled workers and plenty of uncertainty around raw material trade and various tariffs. However, new technology and innovative ideas such as modular prefabricated construction offer bright hope for the future and many firms are adding staff every year. Despite a few areas of unease, most contractors and construction firms are confident in their abilities to rise up and meet the challenges of 2019.

We’ve compiled 60 construction statistics that illustrate the state of the construction industry and give you a picture of the direction it is heading in. Jump to our infographic to see the most compelling stats that you need to know.

Construction Industry Facts and Figures

  1. Construction spending in the United States topped $1.29 trillion in 2018. [Statista]
  2. Global construction costs are expected to rise 4.3% on average. [Turner & Townsend]
  3. At $992 billion dollars, 77% of construction spending occurred in the private sector in 2018. [Statista]
  4. In 2017, construction accounted for between 7% of total U.S. GDP. [FMI]
  5. Single-family residential construction is estimated at $282 billion, up 4% from 2017. [FMI]
  6. Multi-family residential construction rose by 1% last year, with $67 billion in estimated value. [FMI]
  7. Commercial construction was $89 billion in 2018, up 2% from the previous year. [FMI]
  8. Home improvement spending increased by 5% in 2018. [FMI]
  9. 56% of contractors registered their projects with the U.S. Green Building Council (USBGC) or Leadership in Energy and Environmental Design (LEED) over the past three years. [USCC]
  10. Construction for the manufacturing sector decreased by 2% in 2018. [FMI]
  11. Construction related to power and energy distribution grew by 3% in 2018. [FMI]
  12. Amusement and recreation grew by 8%, due to big-budget stadiums, arenas and amusement parks, with several more breaking ground. [FMI]
  13. Conservation and development construction is valued at $8 billion dollars. [FMI]
  14. Transportation construction rose by 16% in 2018 due to redesigning airports. [FMI]
  15. Steel demand for construction in Asia and Oceania is almost 1.2 billion metric tons annually. [Statista]

Workers and Compensation

  1. 11.2 million people worked in the construction industry in 2018. [Bureau of Labor Statistics]
  2. 15% of construction firms reported having a staff of over 1,000 individuals. [JBK]
  3. 35% of construction-related companies increased their staff size in 2017. [JBK]
  4. The average hourly wage of all construction employees was $31.08 in 2019. [Bureau of Labor Statistics]
  5. The median weekly earnings for a full-time, non-union worker was $819 in 2018. [Bureau of Labor Statistics]
  6. In 2018, the median earnings for a full-time union worker was $1,220 per week. [Bureau of Labor Statistics]
  7. The construction industry has added 297,000 net jobs. [Bureau of Labor Statistics]
  8. The approximate dollar value of construction work done in the U.S. in November 2019 is estimated to be $1.3 billion dollars. [CENSUS]
  9. Over $81.2 billion in new contracts were awarded to the top 10 construction companies in the U.S. in 2017. [ENR]
  10. 90% of U.S. general contractors reported that they are concerned over the labor shortage. [USCC]
  11. 61% of contractors plan on hiring more employees in the next 6 months. [USCC]
  12. 61% of contractors also report having trouble finding skilled workers. [USCC]

Gender, Ethnicity, and Demographics

  1. Gen Y and Millennials make up 45.5% of the industry, while 54.4% were born between 1960 and 1979. [JBK]
  2. 30% of the construction workforce identify themselves as Hispanic or Latino. [Bureau of Labor Statistics]
  3. 10% of the total construction workforce is female. [Bureau of Labor Statistics]
  4. 15.6% of women in the construction industry work in accounting. [JBK]
  5. 4.8% of women in the construction industry work in the tech/IT departments. [JBK]

Construction Location

  1. Construction in the Western United States was projected to grow by 6.2% between 2018 and 2019. [FMI]
  2. 20% of U.S. construction occurs in New York, Dallas, Houston, Los Angeles, and Washington. [Built Worlds]
  3. 50% of all construction in the U.S. is expected to occur in just 20 cities over the next 5 years. [Built Worlds]
  4. Costing $417/sq ft., New York City is the most expensive city to build in 2019. [Curbed]
  5. The top 5 states renting equipment are California, Texas, Florida, Illinois, and New York. [BigRentz]

Construction Safety By the Numbers

  1. Across the world, 2.3 million people die due to work-related accidents or diseases every year. [ILO]
  2. About 58.6% of all on the job fatalities in construction is due to the “Fatal Four” hazards: falls, electrocution, being struck by an object, and being crushed. [OSHA]
  3. Falls account for 33.5% of all construction deaths. [OSHA]
  4. 1038 workplace fatalities took place in the U.S. in 2018. [Bureau of Labor Statistics]
  5. An estimated 651,279 deaths per year are reported globally from diseases related to hazardous materials in construction. [ILO]

New Technologies

  1. About 60% of construction companies have R&D departments for new technology. [JBK]
  2. Of the companies that do have R&D departments, 21.5% have more than 5 people in their department. [JBK]
  3. 42.6% of firms are experimenting with drones — up 5% in 2019. [JBK]
  4. 57% of companies are considering job-site employee tracking. [JBK]
  5. 10.8% reported using smartwatches for work. [JBK]
  6. 35.9% of construction employees are hesitant at trying new technology. [JBK]
  7. 55% of construction firms use Building Information Modeling (BIM) software, while 27.5% intend to adopt the technology within the decade. [JBK]
  8. 10.7% of construction companies outsource any BIM related work. |JBK|
  9. 38.2% of companies cite “lack of IT staff” as the most limiting factor in adopting new technology. [JBK]

Emerging Trends & Challenges

  1. 75% of construction firms now promote themselves through social media. [JBK]
  2. 96% of U.S. general contractors are moderately confident in commercial construction demand. [USCC]
  3. 91% of off-site construction is prefabrication, followed by modular construction at 78%. [Built Worlds]
  4. 86% of contractors say they are not effective or need improvement in prefabrication construction. [Built Worlds]
  5. 82% of contractors agree that BIM (Building Information Modeling) is the future of project information. [NBS]
  6. 70% of contractors say BIM is still not sufficiently standardized across the industry. [NBS]
  7. 90% of all global infrastructure projects are either over-budget or delayed. [FMI]
  8. The average backlog of projects for general contractors is 9.3 months, indicating a stable market with room for growth. [USCC]
  9. Apple is the most used mobile operating system, with 78.7% of companies using it. |JBK|
  10. 59% of construction companies use the Bluebeam (Revu) mobile app for plan management. |JBK|

Construction Rentals

  1. U.S. construction equipment rental sales are expected to reach $59 billion by 2021. [Statista]
  2. Construction equipment is rented for an average of 6 days. [BigRentz]
  3. 15% of rented equipment is for individual construction projects. [BigRentz]
  4. Equipment rental accounts for over 47% of industry revenue. [IBIS World]

 

60 must know construction statistics 2020