Bridging the gap: Increasing demand from downstream construction markets will support revenue growth

Overall, rising demand from private nonresidential building construction markets has kept the Heavy Engineering Construction industry in Illinois revenue afloat. Moreover, local and state government expenditure in Illinois has also increased, which has bolstered demand from the public projects market segment. Overall, consolidation activity has suppressed growth in enterprises and establishments. Consolidation efforts have been aimed at reducing wage payments and increasing operational efficiencies. Despite consolidation efforts, industry employment has expanded. Over the five years to 2022, industry revenue growth is expected to accelerate. This acceleration is anticipated to be driven by increasing demand from downstream construction markets...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
2.0%
Forecast Growth 17-22
Profit
Employment
4,466
Businesses
671

Industry Threats & Opportunities

  • Rising demand from private nonresidential building construction markets has kept industry revenue afloat
  • Increases in private construction have distinguished the industry’s composition in Illinois
  • The industry is expected to receive a slight boost in federal funds, which will propel industry revenue growth
  • Industry Report - Industry Investment Chapter

    This industry requires moderate capital investment, with the majority of costs pertaining to labor. Labor costs consist of direct employee wages. Similar to other construction industries, the cost of purchases is high, accounting for over 40.0% of revenue. These costs are largely related to materials, components and supplies that are used during the construction of industrial facilities and costs associated to subcontracting out work. Capital expenses are only estimated to account for a small percentage of revenue, as the majority of necessary equipment can be leased on a piecemeal basis or subcontracted to specialist operatives (e.g. crane operators and structural steel erectors)...purchase to read more.

    Additional Insights for the Heavy Engineering Construction in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Heavy Engineering Construction in Illinois 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 Illinois in the Heavy Engineering Construction in Illinois industry impact industry performance..

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    What's in this report

    What is the Heavy Engineering Construction in Illinois Industry?

    Operators in this industry are primarily engaged in heavy 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 and railroad construction
  • Conservation and development construction
  • Marine construction
  • Harbor and port facilities construction
  • Hydroelectric power plants
  • Tunnel construction
  • Outdoor recreational construction
  • 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 Illinois
  • Value of private nonresidential construction in Illinois
  • Yield on 10-year Treasury note

  • Current Performance
  • Growth in mass transit
  • Railroads and freight
  • Profitability and industry structure
  • Chart: Revenue Growth

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

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Heavy Engineering Construction in Illinois 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
  • Mass transit and railroad construction
  • Marine construction
  • Hydroelectric power plants
  • Conservation and development construction
  • Tunnel construction
  • Outdoor recreational construction
  • Harbor and port facilities construction
  • Chart: Heavy Engineering Construction in Illinois Industry Products and Services Segmentation

  • Major Markets
  • Private sector
  • Public sector
  • Chart: Major Market Segmentation for the Heavy Engineering Construction in Illinois 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 Illinois

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

  • Turner Construction Company, Walsh Group, Pepper Construction Group LLC, Power Construction Company LLC,
  • Table: Turner Construction Company - financial performance
  • Table: Walsh Group - financial performance
  • Table: Pepper Construction Group LLC - financial performance
  • Table: Power Construction Company LLC - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Heavy Engineering 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 Heavy Engineering Construction in Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Price of steel (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?

    The Heavy Engineering Construction in Illinois industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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    This report on Heavy Engineering 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 Heavy Engineering 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 Heavy Engineering 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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