Projects by Volume

For the first half of 2024, Texas stands out as the state with the most construction projects currently happening. This construction boom encompasses a range of large-scale developments and urban expansion efforts. Major projects include a $5 billion pediatric health campus at the UT Southwestern Medical Center in Dallas as well as Texas A&M University’s new $200 million space center near NASA’s Johnson Space Center in Houston.

Additionally, Texas is experiencing substantial infrastructure development under the Texas Department of Transportation’s (TxDOT) Unified Transportation Program (UTP). This program includes extensive roadway expansions, bridge repairs, and various safety improvements across both urban and rural areas, driven by funding from Proposition 7 and other state initiatives.

Key areas like Houston and Dallas-Fort Worth are particularly active, with projects such as new mixed-use developments, airport expansions, and significant residential and commercial constructions. These initiatives are not only boosting the state’s economic growth but also addressing urban congestion and enhancing public amenities.

Projects by Value

In 2024, California leads the United States in terms of the cost and value of construction projects. The state is home to several of the nation’s largest and most expensive megaprojects. The most notable is the California High-Speed Rail project, with a staggering budget of $135 billion. This ambitious project aims to connect major cities with a high-speed train system traveling at speeds up to 220 mph, significantly transforming the state’s transportation infrastructure.

Additionally, Brightline’s $12 billion high-speed rail project, connecting Las Vegas to Southern California, represents another massive transportation initiative set to reshape regional connectivity. This project aims to provide a fast and efficient link between these two major areas, with construction scheduled to ramp up in 2024.

Year-Over-Year Winners

In 2024, several regions across the United States are witnessing significant growth in construction projects year-over-year. Notably, the Southwestern states are experiencing the largest increases in residential construction.

Looking Towards 2025

2025 looks to continue the rising construction trend with notable increases in construction starts across various regions and sectors in the United States.

Sector-Specific Growth

Residential
The demand for housing remains high, especially in states with growing populations like Texas, Florida, and California. Multifamily housing projects are expected to see continued growth.

Infrastructure
Civil engineering projects, including roads, bridges, and power infrastructure, are projected to grow significantly. The civil sector is anticipated to see around 12.7% growth in the US.

Healthcare and Education
Institutional construction is set to expand, driven by demographic trends and the need for updated facilities. Spending on healthcare facilities is expected to increase by around 3.5% annually, while educational construction spending is projected to grow by 4% in 2025.

Industrial
Although some areas might see a decline, manufacturing-related construction is expected to remain strong in regions with significant industrial bases.

Overall, while the construction industry faces some challenges, specific regions and sectors are seeing exceptional growth and are poised for significant growth in 2025, driven by demographic changes, economic conditions, and infrastructure needs.