Construction

What is the construction industry?

The US Department of Labor defines the development industry as companies that are engaged in the construction of buildings or engineering projects, like bridges and roads. Construction vocation also takes place when existing buildings are renovating.
What does the construction industry include?

The construction industry may be a worldwide industry; therefore the range of construction activities is vast. Activities consist of design and planning, construction and maintenance of a building throughout its lifecycle. The activities of construction contribute to our society economically and socially.

What are the Sectors of construction?

1. Buildings- Building construction is usually further divided into residential and non-residential.
2. Infrastructure
3. Industrial

Types of construction
1. Residential Building
2. Institutional and Commercial Building
3. Specialized Industrial Construction
4. Infrastructure and Heavy Construction

Buildings type of construction
1. Fire-resistive
2. Non-combustible
3. Ordinary
4. Heavy timber
5. Wood-framed

How much does the construction industry contribute to GDP?

Nearly 118,800 jobs are projected to be added within the housing industry by May 2023. Construction generates over $360 billion in revenue and features a share of 9% within the total GDP of the country.

What are the primary sectors of the construction industry?
1. Residential
2. Commercial
3. Heavy civil
4. Industrial
5. Environmental construction

Is the construction industry growing?

Positive trends within the residential market are the first drivers of the booming housing industry growth. Within the U.S. private construction spending reached around 992 billion U.S. dollars in 2018. New construction put in situ is forecast to succeed in over 1.53 trillion U.S. dollars by 2022.

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