Construction Projections and Forecasts-August 2017

By Mark Robins, Senior Editor

Here are useful recent construction-related projections and forecasts:

The U.S. Grand Total Construction Starts Growth Projection for 2017 over 2016 is 4.5 percent, according to ConstructConnect

ConstructConnect, a leading provider of construction information and technology solutions in North America, announced in its Q3 2017 Forecast Quarterly Report that U.S. grand total construction starts growth projection for 2017 over 2016 in ConstructConnect’s Q3 report has been revised down slightly to +4.5% from +4.8%. 2018 remains about the same at +5.9% year over year (y/y). Earlier, it had been estimated at +6.0%.

The Compound Annual Growth Rate (CAGR) of the Construction Laser Market for 2017-2021 is 4.68 Percent, according to HTF Market Intelligence.

Construction lasers can be defined as a basket of several different laser tools used in the construction industry. These tools include 3D laser scanners, laser levels, laser distance meters (LDMs), rotary laser levels, line laser levels, plumb lasers, pipe lasers, laser detectors and other accessories.

The Annual Growth Rate of Construction Projects for the Remainder of 2017 as well as for 2018 is 3.5 to 4.0 percent, according to The American Institute of Architect’s Consensus Construction Forecast.

The AIA Consensus Construction Forecast projects annual growth in the 3.5 percent to 4.0 percent range for the remainder of 2017 as well as for 2018, with a slower growing commercial/industrial market, and an institutional sector facing several challenges. While some slowdown in the commercial sector was anticipated for 2017 and 2018, it was expected to be offset by acceleration in the institutional sector. However, year-to date growth in spending for institutional buildings is at only 3%, well below expectations when the year began.

The Global Building Information Modeling Market will Grow to $11 billion by 2022 with a Compound Annual Growth Rate of 16 percent, according to Market Research Future.

The global Building Information Modelling (BIM) market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a double digit CAGR during the anticipated period (2016 – 2022). The Global Building Information Modelling Market is expected to grow at USD 11 billion by 2022 from US ~$4 billion in the 2016 with compound annual growth rate of 16 percent.

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