Heavy gains: Florida industry revenue will be supported by a growing construction sector

Over the past five years, rising demand from private nonresidential construction markets has bolstered revenue for the Heavy Engineering Construction industry in Florida. The value of private nonresidential construction in Florida has accelerated over the past five years, while local and state government expenditure in Florida has increased as well, boosting demand from the public projects market segment. Industry revenue has been bolstered over the past five years by surges in mass transit and port and harbor facility construction, particularly. Over the five years to 2022, the industry is expected to continue to expand. Growth is anticipated to be driven by an acceleration in state and local government expenditure, as well as increased levels of private investment moving forward...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
1.1%
Forecast Growth 17-22
Profit
Employment
7,024
Businesses
428

Industry Threats & Opportunities

  • Revenue in Florida has been bolstered over the past five years by surges in mass transit and port and harbor facility construction
  • Port and harbor facilities across Florida have also experienced a construction boom
  • Federal investment in infrastructure may grow significantly during the period
  • Industry Report - Starting a New Business Chapter

    The technical complexity of most construction projects undertaken by the Heavy Engineering Construction industry in Florida is the largest barrier to entry for new competitors. New entrants have difficulty establishing a foothold in this industry given the presence of large-scale global players with demonstrated capacities across a wide range of complex projects, such as the construction of electric power generation facilities, chemical and petrochemical complexes and major manufacturing facilities.Contractors in the industry concentrate on building a reputation for technical capacity, timeliness and financial management. Man...purchase to read more.

    Additional Insights for the Heavy Engineering Construction in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Heavy Engineering Construction in Florida Industry are

  • Development of a symbiotic relationship with another industry
  • Access to highly skilled workforce
  • Ability to effectively manage risk
  • IBISWorld analysts also discuss how external factors such as Federal funding for transportation and Local and state government expenditure in Florida in the Heavy Engineering Construction in Florida industry impact industry performance..

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    What's in this report

    What is the Heavy Engineering Construction in Florida Industry?

    Operators in this industry are primarily engaged in heavy and engineering construction projects, with the exception of highway, street, bridge and airport construction. Work performed includes new work, reconstruction, rehabilitation and repairs. The industry also includes specialty trade contractors, if they are primarily active in activities related to engineering construction projects. Construction projects include waterworks, marine facilities development and open space improvement.

    Industry Products
  • Mass transit construction (including railroads)
  • Marine construction
  • Harbor and port facilities construction
  • Conservation and development construction
  • Hydroelectric power plant construction
  • Outdoor recreational area construction
  • Tunnel construction
  • Other construction activites
  • Industry Activities
  • Marine construction and repair
  • Mass transit construction
  • Harbor and port facility construction and repair
  • Conservation and development construction
  • Outdoor area development and construction
  • Hydroelectric plant construction
  • Power plant construction
  • Tunnel construction
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for transportation
  • Local and state government expenditure in Florida
  • Value of private nonresidential construction in Florida
  • Yield on 10-year Treasury note

  • Current Performance
  • Growth in mass transit
  • Port and harbor facility expansion
  • Profitability and industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Federal transportation funding rebounds
  • Private funding
  • Profit spurs entry
  • Table: Heavy Engineering Construction in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Heavy Engineering Construction in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Land Development
  • Rail Transportation
  • Ocean & Coastal Transportation
  • Inland Water Transportation
  • Port & Harbor Operations
  • Nuclear Power

  • Key Selling Industries
  • Architects
  • Construction
  • Engineering Services
  • Heavy Equipment Rental
  • Ready-Mix Concrete Manufacturing
  • Wholesale Trade

  • Products & Services
  • Marine construction
  • Harbor and port facilities construction
  • Other construction activites
  • Mass transit construction (including railroads)
  • Conservation and development construction
  • Outdoor recreational area construction
  • Tunnel construction
  • Hydroelectric power plant construction
  • Chart: Heavy Engineering Construction in Florida Industry Products and Services Segmentation

  • Major Markets
  • The public sector
  • The private sector
  • Chart: Major Market Segmentation for the Heavy Engineering Construction in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Heavy Engineering Construction in Florida

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Heavy Engineering Construction in Florida Industry

  • Skanska AB, Walsh Group, Balfour Beatty plc, Turner Construction Company,
  • Table: Skanska AB - financial performance
  • Table: Walsh Group - financial performance
  • Table: Balfour Beatty plc - financial performance
  • Table: Turner Construction Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Heavy Engineering Construction in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Heavy Engineering Construction in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Value of Nonresidential Construction (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Conservation
  • Refers to the act of preserving or protecting natural resources and lands.
  • Mass Transit
  • Refers to transportation systems designed to move large volumes of individuals at the same time.
  • Petrochemical
  • Substances obtained through the refining and processing of petroleum or natural gas.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Heavy Engineering Construction in Florida contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Heavy Engineering Construction in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Heavy Engineering Construction in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Heavy Engineering Construction in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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