Elvert Barnes from Hyattsville MD, USA
Ecmweb 5896 05aindustrialpcva4jun06167428560
Ecmweb 5896 05aindustrialpcva4jun06167428560
Ecmweb 5896 05aindustrialpcva4jun06167428560
Ecmweb 5896 05aindustrialpcva4jun06167428560
Ecmweb 5896 05aindustrialpcva4jun06167428560

FMI Predicts U.S. Construction Put in Place Will Reach $977 Billion in 2014

Dec. 2, 2013
With construction put in place at the end of 2013 expected to be at $909.6 billion, researchers at FMI predict CPIP growth rates to be slightly ahead of the GDP in 2014.

FMI has released its 2014 U.S. Markets Construction Overview. With construction put in place (CPIP) at the end of 2013 expected to be at $909.6 billion, researchers at FMI predict CPIP growth rates to be slightly ahead of the GDP in 2014.

Other predictions include:

  • Residential CPIP is anticipated to grow from $338.2 billion in 2013 to $379.6 billion in 2014.
  • Health care CPIP is expected to grow 6 percent in 2014 to $44 billion.
  • Transportation construction should finish 2013 with an 8 percent increase; 2014 predictions show a decrease to 7 percent growth.
  • Manufacturing construction is on the upturn, expected to grow 4 percent in 2014, after its 2 percent drop in 2013.
  • Sewage and waste CPIP should reach $21.3 billion in 2014.

With moderate growth predicted marketwide, there are key trends to watch that will likely affect various sectors and regions in the U.S. Presenting both threats and opportunities are:

  • The shift from shale-gas to shale-oil production has led to projections that the U.S. will produce more oil than it imports by late 2014.
  • The federal government’s fiscal difficulties continue to create business uncertainty. Many are worried about the federal debt and the government’s solution to address the problem.
  • Implementation of the Affordable Health Act is causing concern, as repercussions are anticipated.
  • With baby boomers continuing to retire, succession planning and a search for talent remains one of the industry’s primary challenges.
  • Modularization and prefabrication is expected to play an increasingly vital role in improving the productivity of the entire construction value chain.
  • As a result of the expansion of the Panama Canal, U.S. coastal infrastructure opportunities will create significant corridors of construction activity starting as early as 2014.

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Fiberglass Electrical Conduit Chemical Resistance Chart

This information is provided solely as a guide since it is impossible to anticipate all individual site conditions. For specific applications which are not covered in this guide...

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.