High rising: Rising demand and profit margins have bolstered NJ industry participation

Over the five years to 2018, the Commercial Building Construction industry in New Jersey has performed strongly, with industry revenue rising an annualized 8.1% to reach $3.1 billion, including anticipated growth of 10.6% in 2018. Broadly speaking, industry revenue growth has been supported by an annualized 8.5% increase in the value of private nonresidential construction in the state, which has generated renewed demand for industry projects. It is important to note that industry revenue returned to growth in 2012, with industry revenue falling precipitously between 2008 and 2011. Therefore, this industry has started from near-historical lows. Currently, the industry has yet to return to the prerecessionary highs of the mid-2000s...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
8.1%
Forecast Growth 18-23
Profit
Employment
6,141
Businesses
1,885

Industry Threats & Opportunities

  • Strong increases in the value of private lodging construction have helped fuel industry growth during the period
  • Additional Insights for the Commercial Building Construction in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Commercial Building Construction in New Jersey 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 Value of private nonresidential construction in New Jersey and Office rental vacancy in the Commercial Building Construction in New Jersey industry impact industry performance..

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    What's in this report

    What is the Commercial Building Construction in New Jersey 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) and infrastructure (e.g. communications towers or oil pipelines).

    Industry Products
  • Design-bid-build contracts
  • Design-build contracts
  • Integrated product delivery contracts
  • Construction management at-risk contracts
  • Construction management agency
  • 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
  • Commercial 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
  • 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
  • Value of private nonresidential construction in New Jersey
  • Office rental vacancy
  • Corporate profit
  • Consumer spending in New Jersey
  • Yield on 10-year Treasury note

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Commercial Building Construction in New Jersey 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
  • Construction management at-risk contracts
  • Design-bid-build contracts
  • Design-build contracts
  • Construction management agency
  • Integrated product delivery contracts
  • Chart: Commercial Building Construction in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Commercial buildings
  • Office buildings
  • Amusement and recreational buildings
  • Lodging
  • Chart: Major Market Segmentation for the Commercial Building Construction in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Commercial Building Construction in New Jersey

  • Basis of Competition
    Barriers to Entry
    Structure Tone Organization, Torcon, Turner Construction Company, AECOM,
  • Table: Structure Tone Organization - financial performance
  • Table: Torcon - financial performance
  • Table: Turner Construction Company - financial performance
  • Table: AECOM - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Commercial Building Construction in New Jersey 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 New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Office Rental Vacancy Rate (2009-2023)

  • 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)
  • An individual or company that manages the construction of a structure for a property owner or developer; also called a prime contractor. 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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Commercial Building Construction in New Jersey 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 New Jersey 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 New Jersey:
    • 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 New Jersey 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 New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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