High rise: An increase in state and local government expenditure by New York State will boost revenue growth

Overall, despite significant historical volatility, over the five years to 2017, industry revenue has been increasing. It is important to note that due to the size of certain projects, industry revenue can fluctuate drastically as projects are tendered or taken off line. Amid general economic volatility during the period, the sources of revenue for several industry projects have reshuffled. Companies are seeking to expand their product offerings, cut operating costs and increase operational efficiencies. Over the five years to 2022, industry revenue is expected to grow, supported by an increase in state and local government expenditure by New York State...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
3.4%
Forecast Growth 17-22
Profit
Employment
5,354
Businesses
845
What Our Customers Say

Industry Threats & Opportunities

  • Amid tight labor conditions, the industry is trending heavily toward consolidation
  • Industry operators have received a slight boost in revenue due to some energy extraction sites
  • Federal funding for transportation is expected to remain flat
  • 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 49.6 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 New York Industry

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

    shopping_cartPURCHASE OPTIONS

    What is the Heavy Engineering Construction in New York 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
  • Tunnels
  • Mass transit systems (including railroads)
  • 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 New York
  • Value of private nonresidential construction in New York
  • 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 funds to contribute less
  • Private funding
  • Industry operations to normalize
  • Table: Heavy Engineering Construction in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Heavy Engineering Construction in New York 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
  • Tunnels
  • Other
  • Mass transit systems (including railroads)
  • Chart: Heavy Engineering Construction in New York Industry Products and Services Segmentation

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

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Heavy Engineering Construction in New York

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

  • AECOM Turner Construction Co.Skanska AB Structure Tone Inc.Lendlease
  • Table: AECOM - financial performance
  • Table: Turner Construction Co. - financial performance
  • Table: Skanska AB - financial performance
  • Table: Structure Tone Inc. - financial performance
  • Table: Lendlease - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Heavy Engineering Construction in New York 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 New York 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 Cement (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.
  • Why buy this report?

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

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