The construction market has been growing steadily for nearly 10 years, with no signs of stopping. Industry veterans know the market can’t sustain this pace forever, but they are focused on the opportunities in front of them.
The still-healthy market is evident in the results of this year’s ENR Top 400 Contractors survey. As a group, those firms generated a new record of $405 billion in contracting revenue in 2018, a significant increase of 8.3% from the 2017 total of $373.98 billion. Contracting revenue from U.S. projects rose a healthy 9.1%, to $369.15 billion, over last year’s mark of $338.43 billion. Contracting revenue from projects outside the U.S. rose just 0.9% last year, to $35.85 billion. But with rising oil and commodity prices spurring new work in the oil-and-gas and mining and metals markets, the international revenue stagnation may be coming to an end.