Value of U.S. commercial construction from 2002 to 2023

In 2023, the value of construction of commercial buildings in the United States amounted to 132 billion U.S. dollars. After a noticeable drop in the U.S. commercial construction market during the 2008 recession, the value of commercial construction that has been put in place has recovered to pre-recession figures, reaching 121 billion U.S. dollars in 2022. Warehouses and private offices were the most commontypes of commercial construction starts in the United States.

How does commercial construction differ?

Commercial construction is for the purpose of business through new buildings like offices or a new industrial facility. In the commercial market, contractors must also take into account the needs of other businesses that may also be established within the building. The larger size in commercial construction tends to lead to the utilization of steel as well as other equipment such as cranes. Such equipment also requires skilled personnel for safe and efficient operations.