Market Size of United States Transportation Infrastructure Construction Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 371.25 Billion |
| Market Size (2029) | USD 471.13 Billion |
| CAGR (2024 - 2029) | 4.88 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Transportation Infrastructure Construction Market Analysis
The United States Transportation Infrastructure Construction Market size is estimated at USD 371.25 billion in 2024, and is expected to reach USD 471.13 billion by 2029, growing at a CAGR of 4.88% during the forecast period (2024-2029).
About 39% of transportation and infrastructure spending in 2022 went to highway transportation, 28% to rail and mass transit, 22% to air travel, and 9% to water. Infrastructure and transportation spending in 2022 decreased by 21% from the year before, when spending reached a record high due to support for COVID-19, but is still 21% above 2019 levels before the pandemic.
State and local governments accounted for USD 211.8 billion in T&I spending in 2020 (excluding government transfers). This equated to 57% of total government T&I spending. In 2022, the federal government invested USD 36.6 trillion in infrastructure, with USD 94.5 trillion of that going directly to the states.
The bill set aside USD 550 billion for road, bridge, and rail projects, airports, broadband, and climate-related issues. The spending began in 2022 and is spread over five years. Approximately 66% of these funds were allocated to public utilities, including power and water infrastructure. On average, FEMA infrastructure spending post-disasters for public utilities accounted for 31% of the total FEMA infrastructure spending between 2000 and 2021.
As the world’s population continues to grow and the economy continues to expand, the number of customers will continue to grow, people and goods will continue to demand transportation, and the overall demand for transport will grow significantly. In the US, President Joe Biden unveiled a USD 2 trillion infrastructure plan to modernize the country’s infrastructure in the next decade.
