Infrastructure Insight: The US
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Trump Administration in February 2018; released its infrastructure initiative to modernize the country's infrastructure. The initiative, which is estimated to cost US$200 billion, seeks to spur US$1.5 trillion billion in state, local and private infrastructure investments over the next ten years, by giving incentives to project sponsors that can demonstrate innovative approaches to create new revenue sources for projects andimprove procurement practices and project implementation. The infrastructure initiative also seeks to support rural communities through rural project grants, and speed up the delivery of large-scale infrastructure projects across the country with increased federal loan support.
Reduced tax rates and deregulation are expected to boost overall investment levels over the coming years, especially in the telecommunications, energy and air transportation sectors. States and local governments are pushing for higher gas tax and user fees in order to increase revenues for public works, while the Trump administration is seeking to harness private capital to take advantage of government spending on infrastructure at the federal, state and local levels.
The US infrastructure industry is expected to grow steadily over the forecast period (2018-2022). The total output value of the infrastructure construction market reached US$326.6 billion in 2017 up from US$321.2 billion in 2012 - and will rise to US$396 billion in 2022 (in nominal value terms), corresponding to a 3.9% annual average growth rate.
The electricity and power sector account for the largest share of the project pipeline value at US$422.9 billion; this is followed by rail projects; airport and other infrastructure projects, road projects which make up for US$110.9 billion and water and sewerage projects valued at US$86.8 billion.The public sector is expected to finance 48.3% of the total value of infrastructure projects in the pipeline, while 31.6% are expected to be financed by the private sector (the majority of which are electricity and power projects). The remaining 20% will be financed by a mix of public and private sources.
The report "Infrastructure Insight: The US", provides a detailed analysis of the infrastructure sector in the US, including the state of current infrastructure, the regulatory and financing landscapes, forecast spending across all key sectors and the major projects in the construction pipeline.
Companies Mentioned: Granite Construction, the Lane Construction Corp., Williams Brothers Construction Co. Inc., Tutor Perini Corp., Parsons Corp., Zachry Construction Corp., Kiewit Power Constructors Co., Bechtel Corp., Fluor Corp., Schiavone Construction Co. LLC, J.F. Shea Co. Inc., Frontier-Kemper Constructors Inc., John P. Picone Inc., and Dragados USA.