美国工厂建筑行业概览-55页_8mb

U.S. and Canada Engineering & Construction Industry 2023 Report Summary

Executive Overview

• Engineering and construction firms face near-record inflation and supply chain disruptions. Despite these challenges, many companies achieved record backlogs, earnings, and revenue in 2022.
• Total U.S. construction spending increased 8% in 2022, led by residential construction; forecasted 2% decline in 2023.
• Key strategies for success include focusing on core competencies, improving operational execution, and investing in culture and employee development.
• Merger and acquisition (M&A) activity remains active due to favorable trends like reshoring and government spending programs.

U.S. Engineering and Construction Outlook

Key Takeaways

• Single-Family Residential: Construction peaked in summer 2022, declining due to reduced consumer purchasing power; expected to contract further in 2023.
• Multifamily Residential: Demand is resilient, supported by high borrowing costs and hybrid work trends.
• Residential Improvements: Expected to decline moderately due to reduced buyer motivation; contractors may need to focus on cost-effective solutions.
• Commercial: Growth slowing; e-commerce driven distribution centers remain strong.
• Nonresidential: Overall growth expected, driven by health care, education, and infrastructure spending; office space recovery slow, with data centers being positive.
• Nonbuilding Structures: Spending projected to grow significantly in power, transportation, sewage/waste disposal, and water supply.

Canada Engineering and Construction Outlook

• Total engineering and construction spending in Canada increased 10% in 2022 to $354 billion, with a forecasted 4% decline in 2023.
• Residual residential construction is projected to decrease by 9%, while transportation, sewage and waste disposal, and highway and street investments are expected to grow.
• Infrastructure investments supported by federal and provincial funding will underpin future construction activity.

M&A Trends

• Mergers and acquisitions in the built environment remain relatively active, attributed to megatrends like energy transition, labor shortages, aging infrastructure, and favorable government policies.
• Private equity investment is increasing, pushed by government initiatives such as the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA).

Key Challenges & Strategies for Success

Challenges

• Difficulty finding and retaining skilled workers.
• Project delays due to supply chain issues and inflation.
• Navigating sector-specific downturns.

Strategies for Success

1. Assess Business and Plan Ahead: Develop clear strategies for targeting opportunities and tackling challenges.
2. Focus on Core Competencies: Pursue work aligned with company strengths to weather downturns.
3. Cultivate Culture and Talent: Communicate strategy transparently to maintain employee alignment and pride.
4. Execute Business Discipline: Prioritize training and operational improvements to rebuild backlogs sustainably.

Industry Forecast Highlights

• Residential Sector: Experiencing the most significant growth and decline, driven by interest rate changes and consumer purchasing power.
• Nonresidential: Health Care and Education show steady growth, while Office and Commercial face declines.
• Infrastructure: Strong prospects driven by federal funding programs including IIJA and CHIPS Act investments.

Conclusion

The U.S. and Canada engineering and construction industries demonstrated resilience in 2022, with projected growth influencing sectors differently. Companies that adapt to economic conditions by focusing on their unique strengths, executing clear strategies, and investing in their workforce are best positioned to thrive despite forecasted challenges.