Concrete, bungled: Faltering public funding has slowed industry revenue growth

The Road and Highway Construction industry in Massachusetts has exhibited a slight increase over the five years to 2018, with industry revenue increasing an annualized 0.4% to reach $1.5 billion, including an expected increase of 2.2% in 2018 alone. Industry growth during the period was suppressed by an annualized 0.8% decline in federal funding for transportation. However, the value of private nonresidential construction in Massachusetts has grown an annualized 8.8%, stimulating demand for this industry's airport runway construction segment. Moreover, an annualized 2.6% increase in local and state government expenditure in Massachusetts has supported industry revenue growth...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
0.4%
Forecast Growth 18-23
Profit
Employment
3,389
Businesses
285

Industry Threats & Opportunities

  • Industry performance is expected to be supported by increases in public funding from both the federal and state government
  • Additional Insights for the Road & Highway Construction in Massachusetts Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Road & Highway Construction in Massachusetts Industry are

  • Access to highly skilled workforce
  • Having links with suppliers
  • Ability to compete on tender
  • IBISWorld analysts also discuss how external factors such as Federal funding for transportation and Local and state government expenditure in Massachusetts in the Road & Highway Construction in Massachusetts industry impact industry performance..

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    What's in this report

    What is the Road & Highway Construction in Massachusetts Industry?

    Companies in this industry construct new highways, streets, roads and airport runways (excluding elevated roadways). The industry also includes highway and street construction management operators and special-trade contractors that perform subcontracting work on projects (e.g. grading, laying pavement, installing guardrails and public sidewalks). Establishments may subcontract some or all of the actual construction work.

    Industry Products
  • New roadwork
  • Additions, alterations and reconstruction
  • Road maintenance
  • Industry Activities
  • Constructing highways, streets and roads
  • Constructing airport runways
  • Constructing private roads, driveways and parking lots
  • Installing highway and street lighting and signage
  • Constructing laneway and sound barriers
  • 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 Massachusetts
  • Yield on 10-year Treasury note
  • Value of private nonresidential construction in Massachusetts

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Road & Highway Construction in Massachusetts Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Land Development
  • Airport Operations
  • Administration of Government Programs

  • Key Selling Industries
  • Asphalt Manufacturing
  • Concrete Pipe & Block Manufacturing
  • Construction
  • Heavy Equipment Rental
  • Mining
  • Professional, Scientific and Technical Services
  • Ready-Mix Concrete Manufacturing
  • Steel Rolling & Drawing
  • Wholesale Trade

  • Products & Services
  • New roadwork
  • Additions, alterations and reconstruction
  • Road maintenance
  • Chart: Road & Highway Construction in Massachusetts Industry Products and Services Segmentation

  • Major Markets
  • State-administered road networks
  • Local-administered road networks
  • Private sector
  • Chart: Major Market Segmentation for the Road & Highway Construction in Massachusetts Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Road & Highway Construction in Massachusetts

  • Basis of Competition
    Barriers to Entry
    Bechtel Corporation, Kiewit Corporation, Tutor Perini Corporation, The Walsh Group Ltd.,
  • Table: Bechtel Corporation - financial performance
  • Table: Kiewit Corporation - financial performance
  • Table: Tutor Perini Corporation - financial performance
  • Table: The Walsh Group Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Road & Highway Construction in Massachusetts 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 Road & Highway Construction in Massachusetts Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Federal funding for transportation (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Congressional Earmarks
  • Funds provided by Congress for projects or programs where the congressional direction circumvents Executive Branch merit-based or competitive allocation processes.
  • Earthwork
  • The excavation and piling of earth in connection with construction projects.
  • Public-Private Partnership
  • A partnership where the public sector fully or partially hands over construction, financing and management of infrastructure to the private sector.
  • Safetea-Lu
  • Abbreviation for the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users. Third in a series of federal multiyear transport infrastructure funding programs.
  • Transportation Equity Act For The 21St Century
  • Under this act, the federal government provides funding for pilot toll programs for interstate variable pricing and infrastructure rehabilitation.
  • What Our Customers Say

    Why buy this report?

    The Road & Highway Construction in Massachusetts Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    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 Road & Highway Construction in Massachusetts:
    • 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 Road & Highway Construction in Massachusetts 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 Road & Highway Construction in Massachusetts, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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