
U.S. Construction Industry Growth Signals Major Regulatory Shifts in 2024
The U.S. construction industry commands a staggering $1.6 trillion market value as of 2023, representing 6.3% of the nation’s GDP and employing over 7.8 million workers across residential, commercial, and infrastructure sectors. Despite recent economic headwinds, the industry demonstrates remarkable resilience, with a projected 3.7% compound annual growth rate through 2027. Digital transformation and sustainable building practices are reshaping traditional construction methodologies, while regulatory compliance costs average 2.3% of total project budgets. These statistics paint a clear picture of an industry at a critical inflection …