Construction statistics may seem boring, and you might wonder why you even need to know about some of the different stats out there. But construction statistics are important for construction companies to see what direction the industry is headed.
Different statistics can help you know when to take different steps for your business and ensure that you’re keeping up with the trends in your industry or specific area of expertise.
41 Powerful Construction Statistics To Consider
Each of these statistics should offer some interesting insight for your business, but feel free to scan each of the stats.
- Construction is the third-largest economic sector in the United States by GDP contribution. According to the Bureau of Labor Statistics, construction and extraction occupations are projected to grow by 4% from 2019 to 2029. (BLS)
- Global construction costs rose by 9% in 2021. (Business Wire)
- Private sector construction has outpaced public sector spending for the majority of the last 40 years. (Statista)
- Home improvement and repair spending grew by nearly 3% to $420 billion in 2020. This is according to a study done by Harvard University that states the increase in spending is set to continue.
- The largest infrastructure spending bill in history was passed in 2021. This 1 trillion dollar bill will increase construction spending in a number of public sectors. (NPR)
- The steel used for construction in south-eastern countries is almost 1.2 billion metric tons annually. (Statista)
- As of 2019, it’s assumed that around 8 million people in the United States work in the construction industry. (data USA)
- The average salary in the construction industry is around $55,000. (data USA)
- Over the next ten years, it’s expected that the construction industry will grow by around 10%. (data USA)
- The average age of construction employees is 41, with the expectation that that age will decrease in the coming years. (data USA)
- 90% of American general contractors and construction companies are concerned about labor shortages. (USCC)
- 60%+ of contractors and companies will be looking to hire new construction workers within the next six months. (USCC)
- Over 30% of construction workers identify themselves as Hispanic or Latino. (BLS)
- 20% of all U.S. construction occurs in just five cities. New York, Dallas, Houston, Los Angeles, and Washington. (Built Worlds)
- New York City is the most expensive place in the U.S. to build, with the average cost per square foot at $417 as of 2019. (Curbed)
- Nearly 60% of all fatalities on construction jobs are caused by falls, electrocution, being struck by an object, or being crushed. (OSHA)
- Falling accounts for nearly 34% of all construction deaths throughout any given year. (OSHA)
- It’s estimated that 651,279 deaths per year are reported globally from diseases that are related to hazardous materials from construction sites. (ILO)
- Over half of construction companies utilize research and development departments to implement or design new technology that makes their jobs easier. (JBK)
- Almost half of the commercial construction firms in the world are experimenting or implementing drones. (JBK)
- Almost 40% of employees in the industry are hesitant to using new technologies on job sites. (JBK)
- Nearly 40% of companies say that a lack of IT staff is the reason that using new technologies is so difficult. (JBK)
- Three-quarters of construction companies (75%) now promote themselves regularly through the use of social media pages. (JBK)
- Just short of 100% of commercial contractors are confident that there will be enough work to sustain their businesses for years to come. (USCC)
- 90% of all global infrastructure projects are either over-budget, delayed, or on hold. (FMI)
- Most general contractors have a backlog of projects that exceeds work for nearly nine months. This indicates that the industry is strong and that there’s plenty of work. (USCC)
- Almost 80% of companies report using Apple for their operating system in the office and on the job. (JBK)
- In the United States alone, construction equipment rental sales are expected to reach $60 billion by the end of 2021. (Statista)
- 15% of construction firms have reported having a staff of over 1,000 individuals.
- $31.08 is the hourly wage that construction employees are getting paid on average.
- The average weekly wage for a union employee is $1,220 as of 2018.
- 1.2 million new housing units are planned for every year in the United States.
- Most construction managers invest just 2% of their overall budget on IT and technology systems for their employees.
- Bechtel is said to be the largest United States construction company with nearly $26 billion in annual revenue.
- The top three construction companies in the United States bring in a whopping $58 billion all on their own. That accounts for almost half of the annual construction spending in the U.S.
- Women make up over 10% of the total United States construction workforce.
- 13% of construction firms are owned by women as of 2020.
- Washington is the best state for a construction job, according to recent trends. Washington leads the country in growth and average wage.
- To accommodate the expected global population growth between 2020 and 2050, construction companies will need to complete 13,000 every day. (Redshift)
- The above-mentioned global infrastructure development will require nearly $94 trillion worth of investment.
- 35% of construction work time is spent on non-productive activities, according to a study done by Plan Grid. Technology and efficiency are important for the continued growth of this industry.
Contact APX Construction Group Today!
At APX Construction Group, we’re working towards a bright future for the construction industry. This industry needs businesses that are willing to work towards efficiency, integrity, and excellence. By offering assistance in every step of the commercial building process, we can ensure that customers are taken care of and are 100% satisfied with the work we do. The next time you need help with a commercial building project, reach out to APX. We’re here to offer only the best in construction services for you.