$165.2bn
$X.Xbn
315k
14,163
$XX.Xbn
Road and highway construction activity increased through the end of 2024, mainly due to strong investments in transportation infrastructure. Local and state governments have maintained healthy highway construction budgets, while federal programs, such as the Highway Trust Fund and the Infrastructure Investment and Jobs Act have bolstered industry performance. Industry revenue has been expanding at a CAGR of 0.8% over the past five years and is expected to total $158.2 billion in 2024, when revenue is set to jump by an estimated 1.7%. Profit has remained steady as revenue growth has kept up with labor fees.
Industry revenue has grown at a CAGR of 2.1 % over the past five years, to reach an estimated $165.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Area Wide Protective | 2,993.2 | 146.7 | 4.9 | |
Granite Construction Inc. | 1,382.6 | 81.8 | 5.9 | |
United States Infrastructure Corporation | 1,378.2 | 67.5 | 4.9 |
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Industry revenue is measured across several distinct product and services lines, including Highway, road and street maintenance and repair, Airport runway construction, reconstruction and additions and New highway, road and street construction and additions. Highway, road and street maintenance and repair is the largest segment of the Road & Highway Construction in the US.
New highway, road and street construction increased due to heightened government budgets
Companies in this industry construct new highways, streets, roads and airport runways (excluding elevated roadways). The industry also includes highway and street construction management operators and special-trade contractors that perform subcontracting work on projects (e.g. grading, laying pavement and installing guardrails and public sidewalks). Operators may subcontract some or all of the actual construction work.
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NAICS 237310 - Road & Highway Construction 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.
Government funding is fueling road construction. The Infrastructure Investment and Jobs Act is pumping billions into highways through 2026, ensuring steady work for contracto...
Learn about an industry's products and services, markets and trends in international trade.
New highway, road and street construction remains the largest service segment. Maintenance and repair services also account for a significant portion of demand.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Road and highway contractors choose to locate near downstream markets, making the Southeast the most popular choice to set up establishments. This region is also home to a qu...
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.
Competitive pricing is key to attracting customers in a relatively low-margin industry. Road and highway contractors must also be able to deliver a wide range of services to ...
Learn about the performance of the top companies in the industry.
The industry is highly fragmented. Still, Area Wide Protective is a strong player with more than average employees.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The American Association of State Highway and Transportation Officials is the principal authority overseeing standards and specifications for road and bridge construction. Th...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases are the largest cost for road and highway contractors. Primary purchase costs include ready-mixed concrete, cement, aggregate, asphalt and steel ties or mesh.
Including values and annual change:
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Key data sources in the US include:
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:
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The market size of the Road & Highway Construction in the US industry in United States is $165.2bn in 2024.
There are 14,163 businesses in the Road & Highway Construction in the US industry in United States, which has grown at a CAGR of 0.7 % between 2019 and 2024.
The market size of the Road & Highway Construction in the US industry in United States has been growing at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Road & Highway Construction in the US industry in United States is expected to grow.
The biggest companies operating in the Road & Highway Construction market in United States are Area Wide Protective, Granite Construction Inc. and United States Infrastructure Corporation
Constructing highways, streets and roads and Constructing airport runways are part of the Road & Highway Construction in the US industry.
The company holding the most market share in United States is Area Wide Protective.
The level of competition is moderate and increasing in the Road & Highway Construction in the US industry in United States.