A recent report by InfraExchange LLC, “Infrastructure Spending Outlook 2018,” shows across the board growth in a number of U.S. construction market sectors.
“We see the potential significant shift in public and monetary policy, as well as the removal of pre-election uncertainty, serving as a macro-economic growth catalyst for infrastructure spending that will favorably impact the Energy and Utility, Telecommunications, and Commercial, Industrial and Residential Construction industries throughout 2018.”
Drilling down into the residential, commercial, and industrial markets, the market research and analytics firm believes the downstream impact of increased jobs, consumer discretionary spending, and increased production needs will drive growth in these three markets. Here are a few key takeaways for each of the three sectors.
- Residential — Single-family and multi-family has been one of the biggest concentrations for new project development. A lack of housing supply and the potential for Millennials to break into the market should continue to drive new construction starts and large redevelopment projects.
- Commercial — Projections see a significant or continued uplift in retail, office, warehousing, hotels and motels, entertainment, educational and healthcare categories.
- Industrial — Although not as strong as residential and commercial, this sector is expected to see healthy investment and construction levels, with significant increase being felt in late 2018 and 2019.