High rise: Improving macroeconomic conditions have led to a massive industry rebound

Revenue for Illinois' Commercial Building Construction industry has grown substantially over the five years to 2017, recovering from its lowest levels in over a decade. Falling unemployment and improving business sentiment among the consumer discretionary sector of the economy, along with accommodating interest rates maintained by the Federal Reserve, led many businesses to expand, directly increasing industry workload and revenue. Demand from key downstream markets is anticipated to moderate somewhat over the five years to 2022. While most of the particular set of macroeconomic ingredients necessary to facilitate industry growth are expected to persist during the outlook period, the industry will continue to face structural issues that plague Illinois' economy as a whole...read more.

Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 12-17
11.7%
Forecast Growth 17-22
Profit
Employment
10,077
Businesses
4,138
What Our Customers Say

Industry Threats & Opportunities

  • Improving corporate profit levels allowed the private sector to increase its workforce, raising demand for commercial space
  • Corporate profit is expected to trend upward despite substantial losses in the energy sector
  • Even amid continued revenue growth, any evaluation of the industry’s prospects must be cautious
  • Industry Report - Industry Key Buyers Chapter

    The Commercial Building Construction industry in Illinois has a low level of market share concentration, with the four largest companies holding an estimated combined market share of less than 5.0%. The largest players are multinational general contractors (GCs) with the resources and staff to handle massive, lucrative contracts for state-of-the-art structures like super skyscrapers and professional sports arenas, both popular in the Chicagoland region of the state.By contrast, most industry operators are small, sole proprietors that are equipped only to handle small to medium-sized commercial construction projects. The largest operators typically expand their market presence through strategic mergers and acquisitions. How...purchase to read more.

    Additional Insights for the Commercial Building Construction in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Commercial Building Construction in Illinois Industry are

  • Access to highly skilled workforce
  • Ability to negotiate successfully with regulator
  • Ability to compete on tender
  • IBISWorld analysts also discuss how external factors such as Access to Credit in Illinois and Consumer Spending in Illinois in the Commercial Building Construction in Illinois industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What is the Commercial Building Construction in Illinois Industry?

    This industry includes those companies primarily responsible for work on the construction (i.e. new construction, additions, alterations, maintenance and repairs) of office, retail, hotel, agricultural and entertainment buildings. Participants are general contractors or project managers. This industry excludes institutional buildings (e.g. hospitals and schools), heavy industrial buildings (e.g. factories and power plants) or infrastructure (e.g. communications towers or oil pipelines).

    Industry Products
  • Building construction on land owned by the customer
  • Remodeling
  • Construction management, at risk
  • Industry Activities
  • Office building construction
  • Hotel and motel construction
  • Restaurant, cafe and bar construction
  • Retail store construction
  • Shopping center or shopping mall construction
  • Commercial warehouse construction
  • Service and gas station construction
  • Auto service and sales store construction
  • Entertainment and recreation building construction (e.g. casinos, gyms, cinemas and arenas)
  • Radio and television broadcast studio construction
  • Similar Industries
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Heavy Engineering Construction
  • Commercial Leasing
  • Architects
  • Municipal Building Construction
  • Industrial Building Construction in California
  • Commercial Building Construction in California
  • Industrial Building Construction in New York
  • Commercial Building Construction in New York
  • Industrial Building Construction in Illinois
  • Industrial Building Construction in Texas
  • Commercial Building Construction in Texas
  • Industrial Building Construction in Florida
  • Commercial Building Construction in Florida
  • Commercial Building Construction in Massachusetts
  • Industrial Building Construction in Ohio
  • Commercial Building Construction in Ohio
  • Industrial Building Construction in Pennsylvania
  • Commercial Building Construction in Pennsylvania
  • Commercial Building Construction in New Jersey
  • Industrial Building Construction in Georgia
  • Commercial Building Construction in Georgia
  • Industrial Building Construction in Michigan
  • Commercial Building Construction in Michigan
  • Industrial Building Construction in Wisconsin
  • Commercial Building Construction in Wisconsin
  • Industrial Building Construction in Washington
  • Commercial Building Construction in Washington
  • Industrial Building Construction in Virginia
  • Commercial Building Construction in Virginia
  • Industrial Building Construction in Tennessee
  • Commercial Building Construction in Tennessee
  • Industrial Building Construction in Missouri
  • Commercial Building Construction in Missouri
  • Industrial Building Construction in North Carolina
  • Commercial Building Construction in North Carolina
  • Commercial Building Construction in Minnesota
  • Commercial Building Construction in Maryland
  • Industrial Building Construction in Colorado
  • Commercial Building Construction in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Access to Credit in Illinois
  • Consumer Spending in Illinois
  • Number of Businesses in Illinois
  • Value of private nonresidential construction in Illinois

  • Current Performance
  • Shoots of growth
  • Late bloomer
  • Industry structure and profitability
  • Chart: Revenue Growth

  • Industry Outlook
  • Increased consumer and business spending
  • Table: Commercial Building Construction in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Commercial Building Construction in Illinois Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Wholesale Trade
  • Gas Stations with Convenience Stores
  • Department Stores
  • Real Estate Investment Trusts
  • Amusement Parks
  • Casino Hotels

  • Key Selling Industries
  • Cement Manufacturing
  • Concrete Pipe & Block Manufacturing
  • Construction
  • Construction & Mining Equipment Wholesaling
  • Glass Product Manufacturing
  • Heavy Equipment Rental
  • Iron & Steel Manufacturing
  • Property, Casualty and Direct Insurance
  • Wholesale Trade

  • Products & Services
  • Building construction on land owned by the customer
  • Construction management, at risk
  • Remodeling
  • Other
  • Chart: Commercial Building Construction in Illinois Industry Products and Services Segmentation

  • Major Markets
  • Retail buildings
  • Office buildings
  • Warehouses and storage
  • Lodging
  • Amusement and recreation buildings
  • Chart: Major Market Segmentation for the Commercial Building Construction in Illinois Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Commercial Building Construction in Illinois

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Commercial Building Construction in Illinois Industry

  • ClaycoGilbane Building CompanySkender ConstructionTurner Construction Co.
  • Table: Clayco - financial performance
  • Table: Gilbane Building Company - financial performance
  • Table: Skender Construction - financial performance
  • Table: Turner Construction Co. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Commercial Building Construction in Illinois 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 Commercial Building Construction in Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of businesses in Illinois (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create two-dimensional drawings or three-dimensional models.
  • Developer
  • An enterprise that prepares a real estate site for residential or commercial use. A developer raises capital, gains zoning approvals and hires contractors to design, construct and develop property.
  • General Contractor (Gc)
  • Also called a prime contractor. An individual or company that manages the construction of a structure for a property owner or developer. A GC may retain a labor force or use subcontractors.
  • Write Down
  • To deliberately reduce the value of an asset to reflect its current market value.
  • Why buy this report?

    IBISWorld’s Commercial Building Construction in Illinois Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Commercial Building Construction in Illinois industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Commercial Building Construction in Illinois:
    • 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 Commercial Building Construction in Illinois 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 Commercial Building Construction in Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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