$23.1bn
$X.Xbn
210k
123k
$X.Xbn
Paving Contractors focus on paving driveways and parking areas for commercial and residential customers. The industry has recently benefited from broad economic improvements, including rising per capita disposable income and relatively low unemployment. Due to the pandemic, nonresidential construction activity was disrupted amid health and safety restrictions. Simultaneously residential construction flourished during this same period as homeowners took advantage of the time to conduct home improvement. This dynamic has been partially reversed as of late, as high interest rates have dissuaded investment in residential construction, while nonresidential construction has experienced a resurgence. Paving Contractors industry revenue fell at a CAGR 1.0% to $23.1 billion, with a decrease of 1.8% in 2023, as profit reached 6.8%.
Industry revenue has declined at a CAGR of 1.0 % over the past five years, to reach an estimated $23.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Rabine Group | 343.0 | 23.2 | 6.8 | |
Rose Paving LLC | 296.0 | 20.2 | 6.8 | |
Kokosing Construction Company, Inc. | 157.1 | 9.0 | 5.7 |
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Industry revenue is measured across several distinct product and services lines, including Paving, Sealcoating and Striping. Paving is the largest segment of the Paving Contractors in the US.
Consumers shift from prioritizing affordability to quality
This industry comprises establishments that specialize in paving residential and commercial driveways and parking areas. Establishments in this industry typically use asphalt, concrete or brick when performing their paving services. Excluded from this industry are operators that pave streets and highways; these services are part of the Road and Highway Construction industry (IBISWorld report 23731a).
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NAICS 238390 - Paving Contractors in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
After having suffered dearly during the pandemic, non-residential construction activity has resumed in part due to surges in corporate profit. Demand from this sector has pro...
Learn about an industry's products and services, markets and trends in international trade.
Asphalt has declined in popularity, as consumers have been shifting to other types of material, such as concrete and pavers, due to their improved durability and aesthetic app...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Paving Contractors industry is characterized by a large number of small-scale establishments that aim to serve local areas. Business locations tend to correspond highly w...
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.
Most paving contractors serve local markets and compete on price, quality and timeliness. The process of laying asphalt, while being the most affordable paving option, is lar...
Learn about the performance of the top companies in the industry.
The paving contractor industry has a low market share concentration as most participants operate on a local level due to the service-based nature of the industry. Most paving...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The number of housing starts has declined amid high interest rates dissuaded investment in residential construction. This lack of activity has translated into dampened demand...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The associated businesses closures as a result of the pandemic severely disrupted paving activity, nonresidential activity has resumed but profit has yet to recover. As corpo...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Paving Contractors in the US industry in United States is $23.1bn in 2024.
There are 123k businesses in the Paving Contractors in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
The market size of the Paving Contractors in the US industry in United States has been declining at a CAGR of 1.0 % between 2019 and 2024.
Over the next five years, the Paving Contractors in the US industry in United States is expected to grow.
The biggest companies operating in the Paving Contractors market in United States are Rabine Group, Rose Paving LLC and Kokosing Construction Company, Inc.
Paving and Sealcoating are part of the Paving Contractors in the US industry.
The company holding the most market share in United States is Rabine Group.
The level of competition is high and increasing in the Paving Contractors in the US industry in United States.