United States Infrastructure Report

Published 09 July 2015

  • 226 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
$1,295.00
United States Infrastructure Report

BMI View: Growth will decelerate in the US construction sector over 2015 and 2016 in line with a normalisation of the housing market following a steep recover over recent years. Whilst infrastructure industry value will sustain its recovery it will not be enough to offset a slowdown.

We have downgraded construction industry value growth for 2015 from 1.4% to 0.7% as the housing market slowdown has been sharper than expected in H1. In line with our expectations for a volatile but lower trend for homebuilding, we expect the industry to growth in H2, to average lower growth than recent years, although remain positive. Non-residential building is also weighing on overall construction value, with capex cuts in the energy and mining sectors weighing on industrial construction. Infrastructure presents one of the few positives for the industry, with oil and gas pipelines and transport infrastructure presenting a few bright spots for activity.

Key Developments

  • The recovery in the residential construction sector is showing signs of slowing, with a weak first half reported. In line with expectations that the recovery would run out of steam as the industry normalised, 2015 is on track to see only limited growth - with an expansion in the sector anticipated in H2 2015 to balance out the contraction seen in H1. While the sector has come a long way since 2011, there is considerable room for further expansion as housing starts remain considerably below the peak of 2,273,000 in January 2006. Consequently, we forecast residential construction to continue to positively contribute to the overall construction industry value.

  • Power and transmission infrastructure industry value will stabilise in 2015 following an estimated two-year recession as the industry slowed following the renewables boom. We see some potential for value creation over the medium term from retrofitting and safety upgrades to nuclear power plants, a new fleet of natural gas power plants as old coal plants...

BMI Industry View
7
SWOT
9
Infrastructure SWOT
9
Industry Forecast
11
Construction And Infrastructure Forecast Scenario
11
Table: Construction And Infrastructure Industry Data (United States 2013-2018)
11
Table: Construction And Infrastructure Industry Data (United States 2019-2024)
12
Transport Infrastructure - Outlook And Overview
19
Table: Transport Infrastructure Industry Data (United States 2013-2018)
19
Table: Transport Infrastructure Industry Data (United States 2019-2024)
20
Table: Selected US P3 Projects
26
Table: FAA Pilot Privatisation Programme, Application & Status
34
Table: Major Projects - Transport
35
Table: Major Projects - Transport
61
Energy And Utilities Infrastructure - Outlook And Overview
86
Table: Energy And Utilities Infrastructure Data (United States 2013-2018)
86
Table: Energy And Utilities Infrastructure Data (United States 2019-2024)
87
Table: Renewables Targets By State
89
Table: Major Projects - Energy And Utilities
95
Table: Major Projects - Energy & Utilities
137
Residential And Non-Residential Building - Outlook And Overview
158
Table: Residential and Non-Residential Building Industry Data (United States 2013-2018)
158
Table: Residential and Non-Residential Building Industry Data (United States 2019-2024)
158
Table: Major Projects - Social Infrastructure And Non-Residential Building
163
Industry Risk/Reward Ratings
185
United States - Infrastructure Risk/Reward Index
185
Rewards
185
Risks
186
Lower Risk, But Lower Returns In North America And Western Europe
186
Table: Western Europe And North America: Infrastructure Risk/Reward Index
193
Market Overview
194
Competitive Landscape
194
Table: Key Players - Financial Data
196
Company Profile
198
Skanska
198
Table: Skanska US Units, 2012-2014 Annual Financial Data
201
Global Infrastructure Partners
202
Table: GIP Assets
207
Bechtel
208
Table: Bechtel Financial Data, USDbn
214
Global Infrastructure Overview
215
Project Risk Index: Robust Financing Establishes Outperformer Status
215
Table: Project Risk Index - Top 10 Markets
215
Table: Project Risk Index - Financing Risk, SSA Top 5
216
Table: Project Risk Index - Construction Risk, Asia-Pacific Top 5
217
Table: Project Risk Index - Operation Risk, Developed Markets Top 5
218
Methodology
219
Industry Forecast Methodology
219
Sector-Specific Methodology
220
Risk/Reward Index Methodology
224
Sector-Specific Methodology
225
Table: Infrastructure Risk/Reward Index Indicators
225
Table: Weighting Of Indicators
226

The United States Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's United States Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the American infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for United States to test other views - a key input for successful budgetary and planning in the American infrastructure market.
  • Target business opportunities and risks in the American infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in United States.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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