D.R. Horton was the homebuilder with the highest gross revenue in the United States in 2024. The Texas-based company reached a homebuilding revenue of 33.83 billion U.S. dollars. It was closely followed by D.R. Horton, which had its headquarters in Florida and generated a revenue of 33.78 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. fell in 2023, but it is expected to start growing again in the next years.New home sales follow the same trend After a fall in the number of new houses sold in 2021 and 2022, home sales have increased again, with those figures in the U.S. expected to reach 683,000 in 2024. The number of single-family homes started has followed a similar trend, and it is expected to increase in the next couple of years.

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.

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.

The United States home construction market is projected to grow from $XX million in 2025 to $XX million by 2033, at a CAGR of 3.00% during the forecast period. Key drivers of this growth include increasing population, rising incomes, and low interest rates. Additionally, the growing popularity of smart homes and green building technologies is creating new opportunities for home builders. The market is segmented by type (apartments & condominiums, villas, and other types), construction type (new construction and renovation), and city (New York City, Los Angeles, San Francisco, Washington DC, and Miami). The new construction segment is expected to hold the largest market share during the forecast period, driven by the increasing demand for new homes from growing families and millennials. The multi-family home builders segment is projected to grow at a higher CAGR than the single-family home builders segment during the forecast period, due to the increasing popularity of urban living and the rising demand for affordable housing. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Key drivers for this market are: Indonesia's Hospitality Market Shifting Preference for Local and Authentic Experiences. Potential restraints include: Difficulties in Implementing Tourism Policies. Notable trends are: High-interest Rates are Negatively Impacting the Market.

The United States home construction market, currently experiencing robust growth with a CAGR exceeding 3%, presents a significant investment opportunity. The market's size in 2025 is estimated at $XX million (replace XX with a reasonable estimate based on available data, perhaps referencing similar reports or industry publications to justify the estimate), fueled by several key drivers. Strong population growth, particularly in urban centers like New York City, Los Angeles, and San Francisco, consistently demands new housing. Furthermore, low interest rates (at the time of data collection) and government initiatives aimed at boosting homeownership have stimulated demand. The market is segmented by dwelling type (apartments, condominiums, villas, others), construction type (new construction and renovation), and geographic location, reflecting varying market dynamics across different regions. The segment of new construction within the multi-family sector, driven by companies such as Alliance Residential, Greystar Worldwide, and The NRP Group, shows particularly strong potential. Conversely, the market faces challenges from rising material costs, labor shortages, and regulatory hurdles impacting both new construction and renovation projects. These constraints, although influencing growth, haven’t significantly dampened the overall positive trajectory of the market. Looking towards the future, the market’s continued growth depends on several factors, including sustained economic growth, effective policy responses to material cost inflation and skilled labor shortages, and the continued demand for housing in high-growth urban areas. The forecast period (2025-2033) predicts considerable expansion, offering considerable opportunities for established players and new entrants. The competitive landscape is characterized by a mix of large national builders such as D.R. Horton, Lennar Corp, and PulteGroup, and regional players focused on specific markets. These companies cater to diverse segments, from single-family homes to multi-family units, and exhibit varying degrees of specialization in terms of construction type and property type. The success of individual players within this competitive market hinges on factors including effective land acquisition strategies, the capacity to navigate material cost fluctuations, efficient construction processes, and a keen understanding of shifting consumer preferences in different geographical areas. Successful companies are adept at adapting to evolving market conditions, adopting sustainable construction practices and leveraging technological advancements to optimize efficiency and reduce costs. Given the significant growth forecast and the diverse player landscape, strategic partnerships, mergers and acquisitions, and innovations in construction technology are likely to shape the future of this dynamic sector. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Key drivers for this market are: Indonesia's Hospitality Market Shifting Preference for Local and Authentic Experiences. Potential restraints include: Difficulties in Implementing Tourism Policies. Notable trends are: High-interest Rates are Negatively Impacting the Market.

Despite the pandemic's broader economic disruptions, low interest rates in 2020 initially fueled a housing market boom driven by work-from-home orders and a shift toward residential construction. This surge was a lifeline for builders amid economic turbulence. However, the tide turned in 2022 and 2023 as the Federal Reserve's interest rate hikes curbed housing investments, dampening consumer enthusiasm and slowing residential construction activity. Low housing stock and rate cuts late in 2024 led to growth in single-family housing starts, boosting revenue. Single-family home development climbed in more affordable and less densely populated areas in 2024, but new multifamily developments have plummeted. Industry revenue has been climbing at a CAGR of 0.8% over the past five years to total an estimated $233.5 billion in 2025, including an estimated increase of 0.2% in 2025 alone. The initial boom in 2020 and 2021 led to one of the most significant expansions in home-building in recent memory, yet interest rate hikes soon tempered this growth. As smaller-scale developers struggled with escalating construction costs and regulatory hurdles, larger, financially robust companies like DR Horton, Lennar and PulteGroup managed to thrive and expand their operations. These larger companies maximized their market share, leveraging their resources to navigate the challenging economic climate and maintain momentum despite the pressures of rising material costs and labor shortages. These rising material costs and labor shortages have driven up purchase and wage costs, contributing to profit declines over the past five years. Expected interest rate cuts will boost housing developers. Developers will benefit from these favorable conditions, especially those who strategically invest in less densely populated areas to meet the growing appetite for affordable housing. Rate cuts will also provide relief to smaller housing developers more sensitive to interest rate fluctuations. Sustainability also looms on the horizon, with tax incentives and energy-efficient building standards encouraging developers to explore eco-friendly construction. Still, rising material costs and labor shortages will continue to stifle profit growth and increase housing prices. Larger companies will continue to gain market share, strategically developing homes near areas with strong job growth near new large manufacturing facilities. Industry revenue is forecast to expand at a CAGR of 1.4% to total an estimated $250.6 billion through the end of 2030.

The United States home construction market, valued at approximately $700 billion in 2025, is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key factors. Firstly, a persistent housing shortage, particularly in desirable urban areas like New York City, Los Angeles, and San Francisco, continues to drive demand. Secondly, favorable demographic trends, including millennial household formation and an increasing preference for homeownership, are bolstering the sector. Furthermore, low interest rates (though this is subject to change depending on economic conditions) have historically made mortgages more accessible, stimulating construction activity. However, the market isn't without its challenges. Rising material costs, labor shortages, and supply chain disruptions continue to exert upward pressure on construction prices, potentially impacting affordability and slowing growth in certain segments. The market is segmented by dwelling type (apartments & condominiums, villas, other), construction type (new construction, renovation), and geographic location, with significant activity concentrated in major metropolitan areas. The dominance of large national builders like D.R. Horton, Lennar Corp, and PulteGroup highlights the industry's consolidation trend, while the growth of multi-family construction reflects shifting urban preferences. Looking ahead, the market's trajectory will depend on macroeconomic factors, interest rate fluctuations, government policies impacting housing affordability, and the ability of the industry to address supply-chain and labor challenges. Innovation in construction technologies, sustainable building practices, and prefabricated homes are also emerging trends expected to significantly influence market dynamics over the forecast period. The competitive landscape is characterized by a mix of large publicly traded companies and smaller regional builders. While established players dominate the market share, opportunities exist for smaller firms specializing in niche markets, such as sustainable or luxury home construction, or those focused on specific geographic areas. The ongoing expansion of the market signifies significant potential for investment and growth, despite the hurdles currently impacting the sector. Addressing supply chain disruptions and labor shortages will be crucial for sustained growth. Continued demand in key urban centers and evolving consumer preferences toward specific dwelling types will be critical factors determining the market's future trajectory. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Notable trends are: High-interest Rates are Negatively Impacting the Market.

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.

Graph and download economic data for New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More (UNDCON5MUSA) from Jan 1970 to Apr 2025 about 5-unit structures +, construction, 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

Despite continued robust private investment and federal funding, economic uncertainty subdued overall growth. However, an upswing in consumer sentiment towards the latter part of this period fueled a recovery in construction activity. Technological innovation played a pivotal role, with advancements like the GPS Ballast trains and rail unloading machinery reducing labor needs and enhancing efficiency. The essential nature of railroad construction to the economy ensured that the sector remained operational even amid global shutdowns, supported by significant public funding for transportation. Revenue has been increasing at a CAGR of 1.6% over the past five years, and is expected to reach $12.1 billion in 2024. In 2024, public funding for railway infrastructure is set to remain resilient, primarily driven by local and state governments focusing on upgrading outdated systems and meeting increasing demand. Infrastructure improvement programs, bolstered by the Build Back Better Act and the Infrastructure Investment and Jobs Act, are injecting new life into railroad construction projects. The influx of federal aid and grants is set to enhance construction activities, particularly emphasizing the development of more efficient cargo routes and high-speed passenger rail systems. These improvements are not just addressing present needs but are also laying the groundwork for future expansion and increased efficiency within the sector. Still, the volatility in the commodity markets, particularly in the global prices of steel, is hampering the performance of Railroad Track Construction contractors as they are forced to absorb higher costs, pressuring profitability. The Railroad Track Construction is poised for moderate expansion and modernization. Recovering consumer spending and trade activity are expected to drive increased demand for railway infrastructure, spurring investments in the maintenance of existing tracks and the construction of new ones. Rail transport's high efficiency and low emissions are expected to continue making it a preferred choice for distributing goods over long distances. Additionally, the ongoing development of passenger rails, including high-speed rail systems, will generate steady demand for construction services. Infrastructure improvement programs will remain a key driver, ensuring continued support through federal, local and state funding. As worn-down infrastructure is revamped and capacity limitations are addressed, the industry is set to experience healthy growth and enhanced operational efficiency. Industry revenue is set to expand by a CAGR of 2.1% to an estimated $13.4 billion through the end of 2029.

Graph and download economic data for Real Estate Loans: Commercial Real Estate Loans: Construction and Land Development Loans, Large Domestically Chartered Commercial Banks (CLDLCBW027SBOG) from 2015-01-07 to 2025-05-28 about charter, land, large, real estate, commercial, construction, domestic, loans, banks, depository institutions, and USA.

Miami, San Diego, and Los Angeles / OC had the least space is available for new single-family home construction in the United States as of the last quarter of 2024. Austin, Atlanta, and Dallas were the cities with the highest lot index values, which were close to 100, indicating that they had an appropriate supply of single-family lots.

The drastic need for apartments has led to an expansion for apartment and condominium construction contractors over the past five years. Still, changing interest rates have led to years of expansion and contractions for contractors. Overall, revenue has been increasing at a CAGR of 3.8% to total an estimated $91.8 billion through the end of 2025, including an estimated 2.2% increase in 2025. Low interest rates amid the pandemic led residential investment to swell, which included apartment complexes. As inflationary concerns and interest rate hikes lingered, many contractors delayed construction, leading to a contraction in 2023 as housing starts sank. Profit has risen slightly as materials price inflation has cooled and contractors have been able to adjust their rates, passing along higher prices to customers. This has also been a driver of revenue growth. Multifamily complexes are still very much needed as young professionals and immigrants move to major cities, leading to growth in 2025. Home prices are set to see slower growth in the coming years than in the previous five, causing a shift in the housing market back to homeownership. Also, continued rate cuts will incentivize home construction. Mortgage rates have remained stubbornly high in the face of cuts to the federal funds rate, however. Elevated mortgage rates will keep buying a house out of reach for many, pushing more people to rent. Apartment construction is set to continue to account for the growing population in the US. Affordable housing complexes remain crucial in many large cities and will be needed as more people enter. Rental vacancies will continue threatening contractors, as many consumers may split housing with roommates and fulfill current stock to save money. Overall, industry revenue is forecast to expand at a CAGR of 1.8% to total an estimated $100.5 billion through the end of 2030.

Graph and download economic data for Real Estate Loans: Commercial Real Estate Loans: Construction and Land Development Loans, Large Domestically Chartered Commercial Banks (CLDLCBW027NBOG) from 2015-01-07 to 2025-05-28 about charter, land, large, real estate, commercial, construction, domestic, loans, banks, depository institutions, and USA.

The Transmission Line Construction industry has grown over the five years through 2025, driven by expanding demand from the industry's primary downstream market, electric power companies. The construction and maintenance of electrical power and telecommunication lines are vital components to every sector of the economy and to society at large, reducing volatility for the industry. Demand for electricity is only growing, with computing power for the burgeoning AI and crypto industries putting new demands on the grid. Meeting the moment, the 2021 Infrastructure Investment and Jobs Act has benefitted the industry, making historic investments into infrastructure, including transmission line construction. Demand for transmission lines is also being driven by the transition to green energy, which will require the nation to significantly increase its transmission capacity to be successful. However, even with support from the Inflation Reduction Act, progress on this front has been limited as bureaucratic hurdles, including long and expensive environmental reviews, have stood in the way of many projects. Contractors have also faced volatile materials costs over recent years, pressuring profit. These high materials costs have also been passed along, driving up industry revenue. On the whole, Transmission Line Construction industry revenue has been expanding at a CAGR of 3.3% over the past five years and is expected to total $125.5 billion in 2025, when revenue will jump by an estimated 2.5%. Over the next five years, the industry will continue growing if government funding remains steady. Permitting reform is being pursued on several fronts, which, if successful, could accelerate industry growth. These include new rules from the Federal Energy Regulatory Commission (FERC), the new Coordinated Interagency Transmission Authorizations and Permits (CITAP) Program from the Department of Energy and legislative efforts. The second Trump administration has, however, looked to roll back federal support for the green energy transition, including by pausing some funding included in the Inflation Reduction Act (though this pause has faced legal challenge). Still, Transmission Line Construction industry revenue is expected to expand at a CAGR of 1.4% to $134.9 billion over the five years to 2030.

US And Canada Residential Construction ERP Software Market size was valued at USD 353.65 Million in 2024 and is expected to reach USD 808.13 Million by the end of 2032 with a CAGR of 10.95% during the forecast period from 2026-2032.

US And Canada Residential Construction ERP Software Market Overview
The complexity involved in modern residential construction projects is one of the main drivers in the market today. Such complexity is characterized by innovative architectural designs, advanced building materials and technologies, stringent regulatory requirements, and the necessity for seamless integration among various stakeholders. This increasingly necessitates the use of software solutions that are robust and integrated in order to cope with complex workflows and allow visibility in real time along the project life cycle. Another critical factor going for ERP implementation has been the consistent requirement across the industry for improving efficiencies and productivity.

With revenue figures of over ** billion U.S. dollars in 2023, the Turner Corporation was ranked the leading construction contractor in the United States. In this ranking, Bechtel ranked third, while Kiewit Corp. ranked second. Meanwhile, the Fluor Corporation, a company on which we have a report, fell to eighth place in the list.

This dataset covers the modern era of concrete and steel sports venues. It includes all venues opened in US and Canada from 1909 to 2026 that served as the main host for teams in the four major US-based professional sports leagues: Major League Baseball (MLB), National Basketball Association (NBA), National Football League (NFL), and National Hockey League (NHL).

Water and sewer line construction has expanded slightly over the past five years as more water mains, sewer systems and water treatment plants have been constructed, repaired and renovated to carry potable water to and wastewater away from residential and nonresidential buildings. Industry revenue has grown at a CAGR of 1.0% to an estimated $65.3 billion over the five years through 2025, including an expected 0.6% increase in 2025 alone as interest rate cuts, which began in 2024 and have continued into 2025, will precipitate some construction activity. Overall growth was notably spurred on by historically low interest rates that incentivized capital investment early in the current period. More recently, rising interest rates and economic uncertainties drove a shift toward revenue earned from repair and maintenance projects as larger construction projects became financially unviable. Various major markets, including thermoelectric power, agriculture and public water supply, are instrumental in the future development of the water and sewer line construction industry. While global demand for electricity has been rising, the decrease in usage and closure of coal-fired power plants has led to declining water usage from thermoelectric power plants. New thermoelectric plants that use water more efficiently still present an opportunity for water and sewer line contractors. However, renewable energy sources largely don't use water in the generation process. Many domestic water and sewer lines are aging and require significant repairs, resulting in increased spending on maintenance, repair and reconstruction. Environmental challenges related to climate change and the need for water-efficient facilities offer more growth opportunities for the industry. There is no shortage of lucrative projects for water and sewer line construction companies. Water and sewer line construction is set to increase at a CAGR of 1.2% to $69.3 billion over the five years to 2030. This optimistic outlook is bolstered by the continued investment in sewage and water treatment plants, spurred by urban growth. Falling interest rates are expected to make expensive projects more feasible and drive construction activity. The industry should also benefit from the adoption of innovative technologies such as trenchless construction and smart pipes, enhancing revenue growth over the coming years.