Industry Analysis & Industry Trends
This industry constructs stadiums for football, baseball, soccer, basketball and other sports events. Over the past five years, the industry slowly improved, as demand for industry projects rose in response to increased government funding. Most of the industry's demand originates either from educational institutions, such as high schools and universities, or commercial sports enterprises, such as sports franchises and leagues. In either case, the public sector is usually heavily involved in providing funds and incentives for the construction of stadiums. Over the five years to 2021, industry revenue is forecast to climb, which is anticipated to ease local and state government budget burdens, thereby increasing public sector funding for industry projects.
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Industry Report - Industry Products Chapter
Although very few new stadiums are built in any given year, new stadiums can cost anywhere from several million dollars to over $1.0 billion. Consequently, this segment constitutes the largest service segment for builders. In the five years to 2016, the price of key material inputs, including steel and ready-mix concrete, has fluctuated. For instance, according to data sourced from the US Bureau of Labor Statistics, the world price of steel is anticipated to decrease at an average annual rate of 6.3%, while the price of ready-mix concrete is expected to rise an annualized 3.2% over the five years to 2016. Higher concrete costs have raised the overall cost of building a new stadium... purchase to read more