Kim Slowey of Construction Dive Magazine, looking back on 2019, writes that the dollar value of U.S. construction starts was almost level with that of 2018, but there was a shift in the type of projects moving forward.
Energy-related developments of $1 billion or more with a major engineering component dominated U.S. starts, while starts for mid-size and smaller projects were down 15% in the fourth quarter.
The potential for a boom in the $1 billion or more category will be driven by:
- major transportation-related projects at airports;
- municipal rapid transit projects;
- the pursuit of regional high-speed rail;
- a flourishing energy sector that has already resulted in a proliferation of gas plant, oil refinery and LNG projects.
Click here for a deeper look at construction statistics through the first three quarters of 2019, and projections for the new year.