Lennar Corp. was the homebuilder with the highest gross revenue in the United States in 2023. The Florida-based company reached a homebuilding revenue of 32.5 billion U.S. dollars. It was closely followed by D.R. Horton, which had its headquarters in Arlington (Texas) and generated a revenue of over 32 billion U.S. dollars. Challenges to the residential construction marketThe number of private housing units started fell around the time of the global financial crisis (2007-2009), but has since recovered – though not to the heights of 2006. The value of residential construction in the U.S. has been increasing since 2011. However, that trend is expected to come to an end in 2023, as housing put in place is expected to decrease in the next years. That indicates that the revenues earned by home construction companies, such as D.R. Horton, may also be affected. New home sales follow the same trend Unsurprisingly, the number of new houses sold follows the same pattern. The property crash of 2008, which was a leading factor in the global financial crisis at that time, impacted residential property sales in the United States. Although this market has recovered slowly in the years after the financial crisis, the growth in the number of new houses sold has stopped, as home sales have fallen significantly in 2021 and 2022. The number of single-family homes started began to increase in 2012, which roughly coincided in time with the period of recovery of the real estate market, but it has also decreased more recently.

With almost 37.5 thousand units sold in the fiscal year 2023, Daiwa House Industry Co., Ltd. recorded the highest unit sales among the leading homebuilders in Japan. Sekisui House, Ltd. ranked second with approximately 34.2 thousand units sold during that fiscal year. Housing construction in JapanThe number of housing starts in Japan has fluctuated between about 800 and 900 thousand per year in the past decade. Japanese consumers are known for their preference for new properties, and low interest rates have created a favorable environment for home buyers in the past decades. As a result, Japan's housing stock keeps growing and has already surpassed the number of households in the country.Industry faces population declineIt is expected that the Japanese population will fall from 124.4 million in 2023 to around 105 million by 2050. As Japan’s population continues to shrink and the country’s leadership remains comparably strict on immigration, further depopulation of rural areas will lead to more and more homes becoming vacant. Already today, Japan has several million unoccupied homes. The demographic change is likely to impact the supply side as well, as fewer young people will enter the construction industry, thus increasing the already apparent shortage of workers.

D.R. Horton was the leading homebuilder company in the United States based on the number of closings in 2023. Some of the other companies in the highest positions of the ranking that year were Lennar Corp. with approximately 73,100 closings, PulteGroup with around 28,600 closings, and NVR with 20,700 closings.

D.R. Horton was the homebuilding company with the largest share of single-family home closings in the United States in 2023. The two largest U.S. homebuilders, D.R. Horton and Lennar Corp., accumulated 24.6 percent of the closings that took place throughout the whole country that year. The third company with the largest market share was PulteGroup, but it was at an important distance from the two leading firms.

Between 2021 and 2022, Barratt Developments was the company with the largest housing turnover in the United Kingdom. Taylor Wimpey was the second company in the ranking, with a housebuilding revenue of 4.3 billion British pounds. In fourth place, Bellway generated a revenue of 3.5 billion British pounds in 2022. However, that only refers to the turnover that those companies generated from housing activities. What is the outlook for the UK's home construction market? Although housing construction was expected to stagnate in 2024, over the coming years the number of homes built is expected to rise at a quick pace. The projected growth of housing starts in the UK is anticipated to be 46.7 percent higher in 2028 than in 2024. A rise in construction starts would be a good sign for the market, as there is a high demand for housing which, along with other factors, has fostered increasingly higher house prices in the UK during the past years. Who are the leading home builders in the U.S.? The market size of the home building industry in the United States is even bigger than in the UK. In 2023, Miami-based Lennar Corp. and the Texas-based D.R. Horton were the largest homebuilders in the U.S. with a revenue of over 32 billion U.S. dollars. Other builders, such as PulteGroup, Toll Brothers, and NVR were also prominent players in the residential construction industry, with much higher revenue figures than their UK counterparts. The value of new residential construction in the U.S. rose significantly from 2019 to 2022 despite the COVID-19 pandemic, reaching about 910 billion U.S. dollars. However, the market is expected to decrease until 2025, which could impact the revenues of these home builders.

In 2022, Marval Holding S.A.S. was the leading residential building construction company in Colombia, followed by Amarilo SAS. Both of these companies had a revenue of over a billion Colombian pesos. Marval Holding was also one the leading construction company in Colombia overall that year.

Bechtel was the construction company in the United States with the highest value of new contracts in 2023. The Turner Construction Company, a firm headquartered in New York, was the second company in the ranking, it had new contracts valued at nearly 20 billion U.S. dollars that year. Statista has a dedicated topic page about the Fluor Corporation that had over 18 billion U.S. dollars. Industry building step by step A ranking based on the revenue of the largest construction firms in the United States showed that the Turner Corporation had the highest revenue. Turner's main activities include the construction of commercial and other non-residential buildings, infrastructure, and green buildings. The value of new industrial building construction in the U.S. is expected to decrease in 2023. Turner’s New York foundations Turner is an international construction services company founded in New York in 1902. The firm has worked on a number of projects across North America, notably constructing Madison Square Garden in 1962 and completing a full-scale renovation of the facility between 2010 and 2013. In turn, the Madison Square Garden Company generated an annual revenue of over 600 million U.S. dollars in 2020. Turner is committed to sustainable building practices and has been a member of the U.S. Green Building Council since 1997. Nowadays, the Turner Corporation is a subsidiary of the German-based construction company Hochtief, a company for which Statista has another topic page.

KB Home's total revenue has increased significantly between 2011 and 2023, although with some fluctuations. The U.S. home-building company generated over 6.4 billion U.S. dollars in revenue, while those figures amounted to 1.3 billion U.S. dollars in 2011. KB Home is headquartered in Los Angeles and primarily builds homes for first-time home buyers. KB Home is one of the leading home builders based on closings.

The state of New York was home to some of the largest construction firms in the United States in 2023, with the Turner Corp. generating a revenue of 17 billion U.S. dollars. That revenue made it the largest construction contractor in the United States as a whole. Sto Building Group Inc. had a revenue of 11 billion U.S. dollars and ranked second in the New York State.

This statistic shows a ranking of the leading contractors for residential construction in the United Kingdom (UK) in 2018. That year, Barrat Homes was the largest contractor for residential buildings, with projects worth nearly 2.6 billion British pounds awarded to the company.

Between 2021 and 2022, Barratt Developments was the house building company with the most units sold in the United Kingdom. Persimmon, the second company on the list, sold approximately 14,550 units in 2021. Bellway, which landed at fourth place in the ranking, sold 11,200 units in 2022. Those companies were also among the UK homebuilders with the largest revenues in 2021.

The first six entries in the ranking of the 100 largest construction firms worldwide in 2023 had their headquarters in China. The combined revenue of the Chinese companies included in the list was higher than that of all other firms combined. CSCEC - China State Construction Engineering Corporation Ltd. - generated 320 billion U.S. dollars worth of revenue in 2023. When construction companies were compared based on market capitalization, however, France's Vinci dominated the construction market in the past years. Global Construction Industry There are many types of construction sectors that are considered part of the industry. Building, engineering, specialty construction and planning and development are a few sectors that comprise this booming industry. A large construction company like Vinci generated over half of its revenue from its energy segment, which is focused on the design, construction, operation, and maintenance of infrastructure, as well as on providing other related services. In general, China and Europe were the regions with the largest construction contractors by revenue. Construction Workers One of the most important aspects of construction is the workers and laborers that manage the industry on-the-ground. Hourly labor costs for construction industry workers are highest in the United States and Japan. In the U.S., weekly earnings of construction workers have increased dramatically since 1965, indicating their value to society and the industry.

In the United States, there were 764,546 construction firms in 2021, with most of them engaged in residential construction. The segments with the highest numbers of companies were residential remodelers and plumbing, and heating, and air conditioning (HVAC) contractors. There were also many firms dedicated to electrical installation and the construction of new single-family homes.

In 2023, the three largest construction companies in terms of revenues in Poland were respectively Budimex Group, Strabag Group, and PORR Group. Construction market in Poland In 2022, the construction market’s value in Poland amounted to 137 billion zloty. This value increased by nearly 219 percent in 17 years. However, the construction sector has stagnated. Since March 2022, the construction and assembly production value has steadily declined. Several factors contributed to this situation. The residential construction sector saw a decline in interest in buying apartments; consequently, the supply of flats also fell. This situation was also not influenced by the rapid influx of immigrants from Ukraine and their demand to buy an apartment. Indeed, demand for rentals increased significantly during this period. Another factor negatively affecting the development of the construction industry was inflation and soaring construction costs. Between March and June 2022, the price of construction materials rose by more than 30 percent. Revenue comparison of different real estate development companies In 2021, Dom Development Capital Group, followed by Atal and Echo Investment, was the leading development company in Poland in terms of revenues. In 2021, Dom Development generated nearly 1.9 billion zloty in revenue. The company achieved a net profit of over 112 million zloty, decreasing by 16.8 percent over the previous year. Following is Echo Investment company which generated revenue of over 1.5 billion zloty. The company achieved a net profit of over 205 million zloty, increasing by 68.3 percent over the previous year. Furthermore, Atal company generated revenue of over 1.6 billion zloty, which is the most among the other mentioned companies. The company achieved a net profit of over 331 million zloty, increasing by 98 percent over the previous year.

In 2022, Lennar and D.R. Horton were the leading construction and engineering companies in the United States based on revenue. That year, the Houston-based company, Quanta Services, generated a revenue of over 17 billion U.S. dollars. Texas was the state with the highest number of companies in the ranking, as D.R. Horton, Fluor, Jacobs, and other major companies in the industry had their headquarters in the state.

European construction companies in the U.S. Some of the largest construction companies from Europe are very active abroad and compete in some cases with local companies for projects in the U.S. For example, 17.6 percent of the revenue generated by Saint-Gobain in 2022 came from North America. In a similar manner, one of the leading contractors with its headquarters in Spain, Grupo ACS, generated roughly half of its sales revenue in the United States. The second country in which it was most active was Australia, followed by Spain, its home market, in third place. There are also other smaller European construction firms for which the American market makes up a significant share of their turnover.

U.S. construction companies AECOM is a company from Dallas that provides construction, architecture, design, and engineering services. During the coronavirus pandemic in 2020, AECOM helped complete two temporary hospitals in New York. Although the Texan firm has stayed in the ranking as one of the largest construction and engineering companies in the country, AECOM's revenue has stalled in recent years. That has allowed for other companies to catch up. That was the case for another engineering company from Texas, Jacobs Solutions, which has had several years of revenue increases, surpassing AECOM's revenue in 2020, despite having had significantly lower revenue figures in previous years.

Repair and maintenance of private homes was the segment of residential construction with the highest annual growth rate in 2023. Meanwhile, new private and public housing construction increased by over five percent that year.

With revenue figures of nearly 9.5 billion U.S. dollars in 2023, DPR Construction was the largest construction contractor in the state of California. In 2021, AECOM a large construction company moved its headquarters to Texas, which is the reason why it does not show in this list. In total, 2 California-based construction companies made it to the list of largest construction firms for the United States.

In Washington state, the construction with the highest revenue in 2023 was BN Builders Inc. that made well over one billion U.S. dollars. Goodfellow Bros. and Lease Crutcher Lewis were the next companies in the ranking. Nevertheless, no company from this particular U.S. state was among the 50 largest construction firms for the United States.

Barratt Developments led the rankings in terms of the largest construction company by market capitalization in the United Kingdom as of October 11, 2024. The residential property development company reached a market capitalization of nearly 9.08 billion U.S. dollars. Other notable companies in the sector were Taylor Wimpey and Persimmon, with market caps amounting to 7.07 and 6.6 billion U.S. dollars, respectively.

Three of the five largest construction firms in Europe in 2023 were in France, whilst Germany had no entries in the list. The sales value of Bouygues increased by roughly 13.9 billion U.S between 2022 and 2023, while Vinci's sales were 9.5 billion U.S. dollars higher. Vinci was the largest construction company in Europe with nearly 74 billion U.S. dollars worth of revenue. Vinci: France’s construction juggernaut The French construction company, Vinci, was founded in 1899 by Alexandre Giros and Louis Loucher and is headquartered in Rueil-Malmaison in France. In 2023, Vinci reported earnings amounting to approximately 68.8 billion euros. That year, Vinci was by far the leading construction company within Europe in terms of sales, followed by its closest competitors, Bouygues and the ACS Construction Group. In a global ranking of construction contractors, Vinci was ranked seventh, while the six leading companies worldwide were located in China. Other construction firms in Europe Other big construction companies in the European market include Bouygues, Skanska and Eiffage. Another company in the European construction sector is CRH plc. This Irish company specializes in building materials businesses, and employed 25,600 people in Europe in 2021.