Construction Project Management Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS OD4696Revenue
$296.1bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
1m
Businesses
429k
Wages
$XX.Xbn
Construction Project Management Services in the US industry analysis
Fee-based construction managers have benefited from mostly favorable conditions over the past five years, primarily because of their ability to engage in stronger price competition than their competitors. Residential construction activity boomed amid the pandemic as the Federal Reserve lowered interest rates to stimulate economic activity, enabling project managers to continue growing as apartment and condominium construction boomed, offsetting a slowdown in nonresidential construction. Industry revenue has been expanding at a CAGR of 2.3% over the past five years and is expected to total $296.1 billion in 2024, when revenue will climb by an estimated 1.5%. Profit has dipped amid rising labor fees despite strong growth.
Trends and Insights
- Residential and nonresidential construction grew. Low interest rates fueled the residential sector, while the nonresidential front showed resilience despite rate hikes. This growth spearheaded overall expansion.
- Scheduling management is the top service provided by construction project managers. Meanwhile, contract administration services also comprise a large portion of the business.
- The Southeast is a top choice for construction project managers because of its close proximity to downstream markets. This area also houses a quarter of the US population, driving abundant residential construction activity.
- Competitive pricing lures customers in low-profit industries like construction. Accomplished project managers must also provide diverse services that address all stages of the construction process.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.3 % over the past five years, to reach an estimated $296.1bn in 2024.
Trends and Insights
Changing project delivery landscape
- Owners of new properties have moved away from cost-saving alternatives such as construction management services based on agency fees. Clients are now shifting toward design-bid-build offerings, which require construction project managers to be active in the design, bidding and construction phases when delivering projects.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
A more favorable operating environment to benefit construction project managers
- Construction project managers will benefit from more stable conditions. Interest rate cuts will boost both residential and nonresidential construction activity over the next five years.
Biggest companies in the Construction Project Management Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Turner Construction Company | 12,137.2 | 438.5 | 3.6 | |
Aecom | 8,771.2 | 292.5 | 3.3 | |
Bechtel Corporation | 4,791.1 | 173.1 | 3.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Cost management, Scheduling management and Compliance management. Cost management is the largest segment of the Construction Project Management Services in the US.
Trends and Insights
Scheduling management is used to avoid any delays, changes or disputes with all involved
- Scheduling management entails collaborating with every specialist involved in the project to coordinate the timeliness of completion and to make sure all aspects run efficiently.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Construction in the US
- Home Builders in the US
- Architects in the US
- Engineering Services in the US
International industries
- Commercial Building Construction in Canada
- Commercial and Industrial Building Construction in Australia
- Commercial and Industrial Building Construction in New Zealand
- Commercial Building Construction in the UK
- Building Construction in Ireland
Table of Contents
About this industry
Industry definition
The Construction Project Management Services industry includes companies that provide planning, supervising and budgeting services to construction projects. This includes all aspects of clients’ projects, including estimating, scheduling, designing, engineering and contracting. Construction project managers may also oversee community relations, safety programs, labor, cost control and coordination with the owner and other construction specialists.
What's included in this industry?
Third-party construction project management servicesProject planning and economic assessmentsQuality management assessment and accreditationFeasibility studies, including environmental impact assessment and community consultationCompanies
Turner Construction CompanyAecomBechtel CorporationPurchase this report to view all 4 major companies in this industry.
Related Terms
LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGNSUBCONTRACTED LABOROUTSOURCEIndustry Code
NAICS 23611 - Construction Project Management Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Residential and nonresidential construction grew. Low interest rates fueled the residential sector, while the nonresidential front showed resilience despite rate hikes. This ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Scheduling management is the top service provided by construction project managers. Meanwhile, contract administration services also comprise a large portion of the business.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast is a top choice for construction project managers because of its close proximity to downstream markets. This area also houses a quarter of the US population, dr...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competitive pricing lures customers in low-profit industries like construction. Accomplished project managers must also provide diverse services that address all stages of th...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Despite fragmentation, Turner Construction stands out for its above-par profits. As a strong presence in the competitive construction project management arena, the company co...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Turner Construction Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Aecom's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Bechtel Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Turner Construction Company, and factors influencing its performance in the industry
- Description and key data for Aecom, and factors influencing its performance in the industry
- Description and key data for Bechtel Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Certification is vital in securing lucrative contracts. This lifts the quality of artistry and ensures the work is up to standard.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Construction project managers' largest expense is purchases. This covers essential construction materials like steel, wood and oil. It also includes costs related to leasing ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Construction Project Management Services in the US industry in United States in 2024?
The market size of the Construction Project Management Services in the US industry in United States is $296.1bn in 2024.
How many businesses are there in the Construction Project Management Services in the US industry in 2024?
There are 429k businesses in the Construction Project Management Services in the US industry in United States, which has grown at a CAGR of 6.6 % between 2019 and 2024.
Has the Construction Project Management Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Construction Project Management Services in the US industry in United States has been growing at a CAGR of 2.3 % between 2019 and 2024.
What is the forecast growth of the Construction Project Management Services in the US industry in United States over the next 5 years?
Over the next five years, the Construction Project Management Services in the US industry in United States is expected to grow.
What are the biggest companies in the Construction Project Management Services in the US market in United States?
The biggest companies operating in the Construction Project Management Services market in United States are Turner Construction Company, Aecom and Bechtel Corporation
What does the Construction Project Management Services in the US in United States include?
Third-party construction project management services and Project planning and economic assessments are part of the Construction Project Management Services in the US industry.
Which companies have the highest market share in the Construction Project Management Services in the US in United States?
The company holding the most market share in United States is Turner Construction Company.
How competitive is the Construction Project Management Services in the US industry in United States?
The level of competition is high and increasing in the Construction Project Management Services in the US industry in United States.
