Graph and download economic data for New Privately-Owned Housing Units Under Construction: Total Units (UNDCONTSA) from Jan 1970 to Jun 2025 about construction, new, private, housing, and USA.

Graph and download economic data for New Privately-Owned Housing Units Authorized in Permit-Issuing Places: Total Units (PERMIT) from Jan 1960 to Jun 2025 about headline figure, permits, buildings, new, private, housing, and USA.

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US Residential Construction Market Size 2025-2029

The US residential construction market size is forecast to increase by USD 242.9 million at a CAGR of 4.5% between 2024 and 2029.

The Residential Construction Market in the US is experiencing significant growth driven by increasing household formation rates and a rising focus on sustainability in new projects. According to the latest data, household formation is projected to continue growing at a steady pace, fueling the demand for new residential units. This trend is particularly evident in urban areas, where population growth and limited space for new development are driving up demand. Meanwhile, the emphasis on sustainability in residential construction is transforming the market landscape. With consumers increasingly prioritizing energy efficiency and eco-friendly features in their homes, builders and developers are responding by incorporating green technologies and sustainable materials into their projects.
This shift not only appeals to environmentally-conscious consumers but also offers long-term cost savings and regulatory compliance benefits. However, the market is not without challenges. Skilled labor shortages continue to pose a significant hurdle for large-scale residential real estate projects. The ongoing shortage of skilled laborers, including carpenters, electricians, and plumbers, is driving up labor costs and delaying project timelines. To mitigate this challenge, some builders are exploring alternative solutions, such as modular construction and automation, to streamline their operations and reduce their reliance on traditional labor sources. The Residential Construction Market in the US presents significant opportunities for companies seeking to capitalize on the growing demand for new housing units and the shift towards sustainability.
However, navigating the challenges of labor shortages and rising costs will require innovative solutions and strategic planning. By staying informed of market trends and adapting to evolving consumer preferences, companies can effectively position themselves for success in this dynamic market.

What will be the size of the US Residential Construction Market during the forecast period?

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The residential construction market in the United States continues to exhibit dynamic activity, driven by various economic factors. Housing supply remains a key focus, with ongoing discussions surrounding the affordable housing trend and efforts to increase inventory, particularly for single-family homes and new constructions. Mortgage and federal funds rates have an impact on residential investment, with fluctuations influencing buyer decisions and construction costs. The labor market plays a crucial role, as workforce availability and wages affect both housing starts and cancellation rates. Inflation and interest rates, monitored closely by the Federal Reserve, also shape the market's direction. Recession risks and economic conditions influence construction spending across various sectors, including multifamily and single-family homes.
Federal programs, such as housing choice vouchers and fair housing initiatives, continue to support home buyers and promote equitable housing opportunities. Building permits and housing starts serve as essential indicators of market health and future growth, with some sectors experiencing double-digit growth. Overall, the residential construction market in the US remains a significant economic driver, shaped by a complex interplay of economic, demographic, and policy factors.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Apartments and condominiums
  Luxury Homes
  Other types


Type

  New construction
  Renovation


Application

  Single family
  Multi-family


Construction Material

  Wood-framed
  Concrete
  Steel
  Modular/Prefabricated


Geography

  US

By Product Insights

The apartments and condominiums segment is estimated to witness significant growth during the forecast period.

The residential construction market in the US is experiencing growth in both the apartment and condominium sectors, driven by the increasing trend toward urbanization and changing lifestyle preferences. Apartments, typically owned by property management companies, and condominiums, with individually owned units within a larger complex, contribute significantly to the market. The Federal Reserve's influence on the economy through the federal funds rate and mortgage rates impacts borrowing rates and home construction activity. The affordability of housing, particularly for younger generations, is a concern due to factors such as inflation, labor market conditions, and savings

Graph and download economic data for Monthly Supply of New Houses in the United States (MSACSR) from Jan 1963 to Jun 2025 about supplies, new, housing, and USA.

Over the current period, waterproofing contractors have faced an overall decline in revenue. While the residential construction market performed well for some of the current period, consistently slow commercial construction activity hindered growth. Over the past five years, industry-wide revenue has been declining at an expected CAGR of 2.2%, reaching an estimated $5.2 billion in 2024, when revenue is set to increase 0.1% and profit is expected to have fallen to 7.2%. The outbreak of COVID-19 had mixed effects on waterproofing contractors. Low interest rates meant to spur the economy led to a housing market boom, driving industry demand through private spending on home improvements and housing starts. Despite low interest rates, economic uncertainty and falling corporate profit led to falling commercial construction activity. As interest rates have been elevated from 2022 into 2024, when the Federal reserve has begun to cut rates, residential and commercial construction activity has fallen. Elevated wage and purchase costs have drove down average industry profit margins in recent years. Over the outlook period, waterproofing contractors will return to growth. Growing housing starts will bolster waterproofing contractors' growth as mortgage rates eventually drop. Private spending on home improvements returning to growth will be a boon to contractors. An uptick in commercial building construction activity over the outlook period as interest rates continue to drop will also promote growth. Tax incentives for energy-efficient residential and commercial buildings will greatly benefit waterproofing contractors. Overall, industry revenue is expected to grow at a CAGR of 1.6% to reach $5.6 in 2029.

Graph and download economic data for All Employees, Residential Building Construction (CES2023610001) from Jan 1985 to Jul 2025 about establishment survey, buildings, residential, construction, employment, and USA.

Graph and download economic data for New Privately-Owned Housing Units Started: Single-Family Units (HOUST1F) from Jan 1959 to Jun 2025 about housing starts, privately owned, 1-unit structures, family, housing, and USA.

The architecture industry has faced a challenging landscape over the last five years, grappling with shifts in work models and financial fluctuations. The pandemic ushered in remote and hybrid work environments, hindering demand for traditional office spaces. Climbing office vacancies, now at a record 19.8% nationwide, have halted the growth of large-scale office projects. Architects are redefining their strategies, with cities like San Francisco and Austin experiencing vacancy rates above 26.0%. The industry’s revenue in 2025 will expand by 2.4% to reach $61.8 billion, with growth over the next five years at a CAGR of 2.2%. Positive developments like the $1.2 trillion Infrastructure Investment and Jobs Act offer a financial boost against potential downturns, representing a considerable portion of industry revenue and opening new opportunities for public sector projects. Economic challenges in recent years, including fluctuating interest rates and inflation, have hindered architects’ profitability. The Federal Reserve’s 11 interest rate hikes between 2022 and 2023 dampened residential construction, causing falling household demand for architectural services. Industry revenue took a hit as elevated financing costs delayed or canceled projects. Residential construction values dipped, reducing housing starts by 9.0% in 2023. In response, architects have had to shift operations by diversifying portfolios and embracing sustainable design practices, stabilizing profit at around 16.3%. Technological integration has helped architects streamline efficiencies and minimize costs, especially when employing BIM and 3D printing. Recent declines in interest rates and incoming opportunities from government-funded infrastructure projects shine a brighter light on the future. Looking ahead, the recovering housing market and increased focus on sustainability drive a promising outlook for architecture firms. Interest rate cuts present new possibilities in residential construction, climbing by 1.2% in 2025, invigorating demand for architectural design services. As urbanization accelerates and populations swell in metropolitan hubs, architects will play a key role in transforming cities through mixed-use and vertical living designs. Sustainability is poised to become central, with advanced technologies like solar panels and green building innovations leading the charge. Developers increasingly recognize and leverage the fiscal advantages of eco-conscious projects. The expansion of AI, VR and AR promises to strengthen accuracy, enhance client engagement and streamline project deliverables. Architects who strategically position themselves in high-growth regions like the Southeast and integrate sustainable practices will thrive, capitalizing on emerging trends and expanding their market presence. Revenue will reach $69.0 billion in 2030.

The residential construction boom in 2020 and 2021 led to robust growth for fence contractors, driven by low interest rates that spurred increased housing starts and private home improvements. The landscape shifted when the Federal Reserve raised interest rates in 2022 and 2023, slowing construction activity. Rate cuts and low housing stock in 2024 began to reverse trends and boost construction activity. Still, the Federal Reserve keeping rates steady in 2025 and uncertainty regarding the impact of tariffs have hindered new single-family housing starts in 2025. Also, challenges like labor shortages and fluctuating material costs have hindered profit. Industry revenue has been climbing at a CAGR of 3.8% over the past five years to total an estimated $24.7 billion in 2025, including an estimated increase of 1.1% in 2025. The surge in demand from residential construction early on and later from certain commercial markets boosted opportunities for fencing projects. Simultaneously, federal investments in infrastructure provided a steady stream of projects, particularly through the Infrastructure Investment and Jobs Act. Also, fence contractors have been buoyed by growth in commercial markets, particularly because of the warehouse and data center construction. Yet, growth wasn't without its hurdles. Labor shortages exacerbated by an aging workforce and perceptions of the construction sector as an unattractive field deterred younger workers, driving up wages to retain talent. In addition, soaring prices of raw materials like steel and wood affected costs, squeezing profit. Looking ahead, fence contractors will continue to enjoy growth. Commercial construction projects, especially hotels and AI data centers, will rise, benefiting fence contractors. Also, the continued allocation of IIJA construction funding will boost contractors. The trend toward sustainable and tech-integrated fencing solutions presents contractors with innovative avenues to attract a growing market segment interested in eco-friendly and advanced property protection. Uncertainty regarding interest rates and new single-family housing starts because of tariffs may hinder fence contractors. Labor shortages, increased competition and the potential for tariffs to hike material costs may continue challenging profit. Still, climbing disposable income levels may contribute to growth in expenditures on fencing for existing homes. Revenue is forecast to increase at a CAGR of 2.1% to total an estimated $27.4 billion through the end of 2030.

Home improvement stores form a mature industry dominated by two major companies, Home Depot and Lowe's. Both companies share similar product lines, which fuels high levels of price competition. Home improvement stores serve various markets, including do-it-for-me (DIFM), do-it-yourself (DIY) and professional customers. The most prominent influence on the performance of stores is activity in the residential market. Starting in 2021, spikes in inflation have cut consumers' spending power, while rising interest rates have constrained residential construction spending. While inflation has been tempered, the recent tariff announcements by the Trump administration remain a threat to product prices. Revenue for home improvement stores is expected to swell at a CAGR of 1.7% to $292.8 billion through the end of 2025, including growth of 1.9% in 2025 alone. The residential market boomed in 2020 as consumers stayed inside, resulting in more consumers with time to spend looking at new homes. Sales of home appliances, lumber, tools, hardware and lawn equipment were boosted. However, mounting inflationary pressure in 2022 led the Federal Reserve to raise interest rates. Since home improvement stores are tied to residential sector growth, rising interest rates cut housing sales that year, leading to faltering revenue. Since the pandemic, exploding e-commerce sales have been a boon for the industry. Home improvement stores will continue to improve their online platforms to strengthen sales in the coming years. Growing economic uncertainty has lifted sales of DIY products while limiting profit growth. Moving forward, interest rates are expected to drop, benefiting home improvement stores. Tariffs could result in higher interest rates, potentially upending the industry. Still, consumer spending power will remain relatively low, suppressing residential activity. Although residential activity is expected to slow, rising disposable income will boost spending on appliances and gardening equipment. There will be a trend of consumers opting for smaller appliances and upgrades rather than making significant investments in new construction or renovations. Home improvement store revenue is expected to climb at a CAGR of 2.1% to $325.3 billion through the end of 2030. The growing efficiency of online operations will cause profit to swell.

Residential painters have made modest gains over the last five years, with the industry's fortunes largely tracking those of the broader housing market. Most recently, this has meant a period of high interest rates slowing growth, preceded by a period of record low rates, which had stimulated industry activity. 2022, in particular, saw strong inflation in paint prices, which were passed along to clients, resulting in higher returns for contractors but putting pressure on average industry profit. In a bright spot for the industry, the Federal Reserve cut interest rates in late 2024, but has been holding rates steady in early 2025 amid economic uncertainty stemming from shifting tariff policy. Overall, industry revenue expanded at an expected five-year CAGR of 3.7% to reach $28.2 billion in 2025, when revenue is set to grow by 0.4%. Residential painting work is defined by high labor use, low up-front costs and numerous non-employer-run companies. One can become a painter after a relatively cheap trip to a hardware store, with no significant legal or technological barriers. Per-contract costs are also low—painters use few utilities, require minimal rented space, market via word-of-mouth and travel short distances to job sites. Despite these low costs, aggregate business inexperience and churn among many painting companies limit profit. Demand for painting services has proven resilient, withstanding time and economic fluctuations. With interest rates set to see gradual cuts over the coming years, housing starts and private spending on home improvements will both expand, creating new business opportunities for residential painters. Paint contractor's revenue is expected to expand at a CAGR of 1.8% to reach $30.7 billion in 2030. Still, painters will continue to face paint volatile prices at the whim of global oil markets and tight competition in a crowded industry.

According to Cognitive Market Research, the global 2 ethylhexanoic acid market size will be USD 1124.5 million in 2025. It will expand at a compound annual growth rate (CAGR) of 6.60% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 326.11 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 269.88 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 416.07 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 42.73 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 44.98 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 24.74 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2025 to 2033.
The chemical industry is the fastest growing sector of the 2 ethylhexanoic acid market

Market Dynamics of 2 ethylhexanoic acid Market

Key Drivers for 2 ethylhexanoic acid Market

The booming construction sector will drive the market's growth

The construction industry is one of the largest consumers of 2-ethylhexanoic acid. This acidic substance is used in a variety of applications around the world, including synthetic lubricants, paint driers, and alkyd resins; however, it is most commonly used in the construction industry to produce polyvinylbutyral plasticizers, which are then used to manufacture safety glass and sheet materials for buildings and construction activities. The construction industry is booming globally, with increased construction activities expected to influence market growth during the forecast period. For instance, according to the Federal Reserve Economic Data report, total residential construction spending in the United States was $599,665 million in June 2020, up from $548,306 million in June 2019. Similarly, according to data from the India Brand Equity Foundation, the Indian residential sector will grow significantly in the coming years, as the central government announced plans to build 20 million affordable homes across the country by 2022. A massive boost in the global construction sector is expected to bolster market growth during the forecast period

https://www.ibef.org/industry/real-estate-india

Increasing demand from automotive sector Drives Market Growth

The automotive industry is a major market for 2-ethylhexanoic acid. This acid is widely used in the automotive industry to produce a variety of automobile products such as windshields, side glazing, and coolants. The automotive industry is expanding globally, with increased vehicle production and sales, which is expected to drive market growth over the forecast period. According to data from the India Brand Equity Foundation, India's automobile sector became the fifth-largest in 2020, with 3.49 million units sold in the commercial and passenger vehicle segments combined. Similarly, the European Automobile Manufacturers Association reports that hybrid electric vehicles will account for 11.9% of total car sales in 2020, up from 5.7% in 2019. Such massive growth in the automotive sector is expected to increase the demand for 2-ethylhexanoic acid, contributing to market growth over the forecast period

Restraint Factor for the 2 ethylhexanoic acid Market

Fluctuating Raw Material Prices, Will Limit Market Growth

Volatile raw material prices have a significant impact on the 2-ethylhexanoic acid market, driving growth in a variety of ways. As the prices of major raw materials, including petrochemicals, fluctuate, manufacturers frequently face higher production costs, which can trickle down to end products, potentially raising their prices. This volatility forces businesses to be innovative and look for cheaper sources, which drives advancements in production technology and efficiency. Furthermore, stable price volatility can cause supply chain issues, forcing manufactur...

Land lessors range from individuals with small plots to large companies that manage entire communities. Manufactured homes offer a more affordable alternative to traditional on-site housing. New housing starts slowed and supply fell in the past few years, pushing prices to extreme highs. The rush to build homes and apartments brought a surge in revenue for private landowners. Manufactured homes' production speed supported supply and gave refuge to home buyers priced out of the traditional market. With skyrocketing prices, land leasing companies enjoyed higher revenue. Through the end of 2025, land leasing revenue climbed at a CAGR of 1.8% to reach $19.8 billion in 2025, including 2.5% growth in 2025 alone. Profit remains high at 45.6% of revenue despite a gain in competition within the industry. The climb in the value of farmland benefits land lessors, as nearly 40.0% of farmland in the US is rented. The increased value of farmland has enabled lessors to charge higher rental rates, bolstering revenue. Demand from the nonresidential market has been uneven, as high interest rates have limited business expansion and hybrid work remains relatively entrenched. However, consumer spending has remained resilient, benefiting land lessors renting land to e-commerce facilities. Through the end of 2030, revenue will accelerate at a CAGR of 2.5%, reaching $22.4 billion in 2030. Financial pressure will push buyers with lower incomes from the traditional housing market toward affordable manufactured homes. The housing supply shortage will not likely be resolved over the next five years, creating additional demand for land rentals. Despite interest rate cuts by the Federal Reserve early during the outlook period, mortgage rates will remain well above lows enjoyed in 2020 and 2021, continuing to price many first-time home buyers out of the traditional housing market and toward manufactured homes.

Graph and download economic data for New Private Housing Units Authorized by Building Permits for Utah (UTBPPRIV) from Jan 1988 to Jun 2025 about UT, permits, buildings, new, private, housing, and USA.

Mobile storage services have seen significant growth over the past five years, especially through the early period. Revenue spiked in 2021 as high residential construction values and manageable interest rates encouraged homeowners to sell their properties. Surging diesel prices pushed mobile storage services to raise delivery fees, bolstering revenue. Mobile storage companies' upward trend has gradually tapered off in the years since as inflationary pressures gave way to interest rate hikes that stifled home sales and construction activity, but solid business from existing customers and commercial clients has helped buoy portable storage providers. Office vacancies are raising concerns for this industry and whether they will have ramifications on their revenue streams. Mobile storage services' revenue has been surging at a CAGR of 3.6% to an estimated $13.3 billion over the five years through 2024 despite an expected decline of 3.3% in 2024. Interest rates have critically impacted the construction industry and demand for mobile storage. As the Federal Reserve raised rates to curb inflation, costs for building and financing new homes soared, causing many to stay with their fixed-rate mortgages. Still, higher interest rates have lessened competition from external substitutes, namely backyard shed construction and facility expansion. Profit has also shrunk as mobile storage services have expanded their workforces to accommodate solid demand. The next five years present a mixed outlook. A recovering housing market driven by declining interest rates could boost demand as new housing starts and home sales mount. Falling diesel prices may trigger intense price competition, with smaller storage services dropping delivery fees to capture market share. Large mobile storage companies will face pressure to match these price cuts, resulting in muted revenue growth. Mobile storage companies are expected to focus on long-term rentals, especially from commercial clients, to mitigate labor expenses' impact on profit. Revenue is set to climb at a CAGR of 2.0% to an estimated $14.8 billion through the end of 2029.

Graph and download economic data for New Privately-Owned Housing Units Started: Units in Buildings with 5 Units or More (HOUST5F) from Jan 1959 to Jun 2025 about 5-unit structures +, housing starts, privately owned, housing, and USA.

Deck and patio construction contractors have experienced notable shifts lately, as consumer behavior and economic trends have reshaped the industry's landscape. With homeowners increasingly seeking affordable ways to enhance their outdoor living spaces, patios have gained traction over traditional decks because of their lower upfront costs. Contractors have capitalized on this by shifting focus toward patio projects, seeing growth in private home improvement spending and providing a much-needed buffer amid the ups and downs of new housing activity. Industry revenue has been increasing at a CAGR of 1.3% over the past five years to total an estimated $1.3 billion in 2025, including an estimated 0.6% increase in 2025. Over the past five years, contractors' gains have been tempered by considerable challenges. Labor shortages, exacerbated by an aging workforce, have driven up wages and squeezed profit. At the same time, material costs, particularly for plastics and resin used in composite decking as well as sawmill lumber, have climbed, further straining profitability. Still, many contractors have successfully passed on these higher material costs to customers, pushing up revenue growth. Demand for patios has stayed robust thanks to their price advantage, while wood decks have retained their appeal as composite deck prices rose more rapidly. Contractors are poised for an environment of heightened competition and persistent cost pressures. The price of sawmill lumber is set to climb, potentially increasing more rapidly in the event of increased tariffs on Canadian lumber. Also, labor shortages are set to persist and keep wage costs high. Uncertainty in new residential construction, as the Federal Reserve keeps interest rates steady, may hinder growth for contractors early, as housing starts slow. Still, low housing stock may boost new single-family construction amid high rates. The health of the consumer is expected to improve, with disposable income set to grow strongly, likely increasing expenditures on more expensive composite decks. Differentiation through customization and design-driven services will become increasingly critical, allowing contractors to win higher-value projects from a growing segment of homeowners seeking multi-functional outdoor spaces. Industry revenue is forecast to increase at a CAGR of 1.7% to total an estimated $1.4 billion through the end of 2030.

The health of the construction sector varies significantly based on factors such as macroeconomic conditions, interest rates, foreign demand and public investment, making construction machinery producers susceptible to considerable revenue volatility. During the early stages of the 2020 pandemic, demand for new equipment slowed sharply, primarily due to weaker nonresidential construction activity. The Bank of Canada responded by cutting interest rates to stimulate the economy, leading to a revenue boom in 2021. Although rates began to rise in 2022, the recovering construction sector sustained revenue and profit gains, although at a slower pace. As macroeconomic conditions improved, interest rates started to fall in 2024. Although lower rates typically support construction activity, an extended period of high rates limited revenue growth, resulting in relatively small changes in revenue in 2024 and 2025. Construction machinery producers have benefited from public sector infrastructure initiatives. Government investment in projects such as roads, bridges and energy and manufacturing facilities supports demand for construction companies, which rely heavily on machinery. Higher commodity prices have boosted machinery demand from the mining, agriculture and forestry sectors, driving machinery sales. Overall, these factors are set to cause revenue to strengthen at a CAGR of 8.3% to $3.9 billion by the end of 2025, including a 0.5% gain in that year. Canadian producers continue to face significant competition from the international market. The Canadian dollar’s recent depreciation has boosted the value of exports, supporting revenue gains. Despite this, imported equipment satisfies more than 80.0% of domestic demand, while exports generate over half of producers’ revenue, making the sector highly sensitive to global macroeconomics and construction trends. Strong import competition also limits manufacturers’ ability to pass on fluctuating input costs, as offering competitive pricing remains key. Despite these trends, a strong domestic market has reduced import penetration and made exports a smaller share of revenue. Demand for new construction equipment is expected to continue growing, though at a slower pace. Public investment in infrastructure will be a key driver for manufacturers as large-scale projects require significant machinery. Producers will also benefit from ongoing construction activity in the US market, driven by demand from the residential sector and potential interest rate cuts by the Federal Reserve. While declining input prices will help producers remain competitive, significant price-based competition from foreign manufacturers, primarily from the United States, Japan and China, will limit profit gains. Producers will face some uncertainty over the coming years surrounding trade conditions. Revenue is set to grow at a CAGR of 1.1% to $4.2 billion through the end of 2030.

The window installation industry is composed of contractors that specialize in window framing and installation services. A large portion of industry revenue is derived from home and commercial building renovation services. While window installers benefit from an absence of international competition, they compete directly with do-it-yourself homeowners and with other skilled tradespeople in the new building construction market (e.g. general building contractors and concreting contractors). The industry is highly cyclical, with revenue growth closely tied to consumer spending on home improvements and the performance of the industry's downstream construction markets. Revenue is anticipated to contract at a CAGR of 3.1% through the end of 2024 to reach $5.5 billion, including an estimated increase of 2.3% in 2024 alone as interest rate cuts begin. Average industry profit has struggled in recent years as window installers have struggled to adjust to high costs. Early on, residential demand surged due to increases in private spending on home improvements, tempering the effects of depleted nonresidential construction markets. This dynamic then largely reversed itself, as private nonresidential construction markets recovered. Recently, industry revenue has exhibited a sharp pitfall as high interest rates, induced by a resurfacing of inflationary pressures, discouraged new construction activity until the Federal Reserve began cutting rates in 2024. Revenue is projected to rebound at a CAGR of 2.0% through the end of 2029 to reach $6.1 billion. Continued improvements in economic conditions and investment into the commercial property market will enable robust growth in the nonresidential construction sector, generating demand for window installation. Improved corporate profit will create a greater need for window installation services for commercial properties, including retail, office, hospitality and industrial spaces. Regressing interest rates will rejuvenate the residential construction market and provide a boost to consumer confidence, enabling demand for window installation to blossom.

Revenue for the Surveying and Mapping Services industry has been volatile in the years since the pandemic. As the economy emerged from a short-lived downturn, surveyors were buoyed by strong residential construction resulting from record-low interest rates. Investment from the commercial sector also expanded as corporate profit soared. However, as the Federal Reserve raised the cost of borrowing to combat high inflation, homebuying and existing home improvements declined, severely inhibiting the residential sector and prompting a multi-year revenue decline for the industry. While interest rates have remained elevated, the 2021 Bipartisan Infrastructure Law has pumped millions of dollars into highway construction, civil engineering, mineral surveying and geospatial data processing, rewarding select surveying and mapping companies with hefty contracts. Thus, industry revenue is anticipated to grow at a CAGR of 2.0% through 2025, even as interest rates remain elevated. In 2025, the industry is projected to grow 1.8% with revenue totalling $11.5 billion.Advances in technology are revolutionizing surveying by enabling faster, more accurate data collection and processing. Mobile mapping tools, UAVs, 3D laser scanning and AI-driven analytics are streamlining workflows, reducing field time and expanding the range of services companies offer. These innovations are supporting complex projects in construction, infrastructure and smart city planning, while cloud-based GIS and automation are improving productivity. As these tools are becoming industry standards, companies that have been quick to adopt them have gained a competitive edge. This increased competition has left laggards behind, making innovation incumbent to sustaining profitability.The industry will continue to see modest expansion as steady economic growth will increase demand from the nonresidential sector. However, economic uncertainty and the expectation of conservative monetary policy by the Federal Reserve will continue to keep interest rates elevated, tempering the residential housing market. Still, surveyors will benefit from new home construction that is expected to rise above historical averages, especially in regions where job growth will support relocation. Through 2030, industry revenue is forecast to expand at a CAGR of 1.1% to reach $12.2 billion.