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Excavators in the US - Industry Market Research Report

United States excavators market: $55.0 billion industry by 2018


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2014-02-14 14:03:02 - Excavators in the US - Industry Market Research Report - a new market research report on companiesandmarkets.com

The United States Excavators market derives about three-quarters of its revenue from subcontracting services from privatesector clients, such as land development companies, institutional building contractors and residential contractors. The rest is derived from the excavation of land for nonbuilding construction (e.g.

sporting fields, roadwork and water supply facilities). While nearly every construction project requires some kind of excavation work, the Excavators industry does not account for the total value of excavation work undertaken in the United States. Instead, industry activities are contested by general construction firms (i.e. contracted to construct a building or structure on cleared land), heavy construction contractors, highway and road contractors, engineering firms, demolition and wrecking contractors and other specialist contracting firms.

Industry revenue registered a sharp decline during

 

 

the recession and has taken several years to recover. The deep contraction in the industry´s performance corresponds with the sharp decline in demand for excavation services in the depressed housing market and the recession-induced downturn of the nonresidential building market. Some earthmoving contractors have benefited from a boost in federal funding for road, bridge and other infrastructure construction, but the extent of the slump in the downstream building markets has hit most contractors very hard. As a result, industry revenue is expected to fall at an annualized rate of 1.5% during the five years to 2013. Improving housing markets and a recovering economy helped turn the industry around in 2012, and growth of 7.1% is expected to bring revenue to $46.0 billion in 2013.

Demand for industry services is expected to strengthen with the continued recovery of the downstream construction markets. Private residential and nonresidential building construction is expected to pick up further in 2014, while sustained growth in the infrastructure and public building construction markets is forecast to be steady through 2018. IBISWorld forecasts that industry revenue will grow at an annualized rate of 3.6% to reach $55.0 billion in 2018.

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