Megaprojects, massive construction ventures valued at $1 billion or more, continue to shape the US construction industry, and over $500 billion is in the pipeline.
According to recent ConstructConnect project data, the US averaged four megaprojects per month in 2024, with a collective monthly value of $9.2 billion.
Chief Economist Michael Guckes of ConstructConnect said, “The full-year results of megaproject activity are revealing in their influence on the construction sector. These projects accounted for one out of every six dollars spent on nonresidential construction nationwide.”
US megaprojects are providing substantial support to the nonresidential construction industry, Chief Economist Michael Guckes of ConstructConnect reported. Image: ConstructConnect Project Intelligence, ConstructConnect Insight Leads
ConstructConnect’s strong nonresidential construction outlook for miscellaneous civil construction, which includes power generation projects, reflects this trend.
Michael Guckes, Chief Economist, ConstructConnect
According to ConstructConnect, notable recent energy megaprojects include a $10 billion wind power farm off the coast of Virginia and a $4 billion next-generation nuclear power plant in Wyoming.
Guckes added, “ConstructConnect continues to monitor over $500 billion worth of megaprojects that have the potential to break ground during 2025. Among these projects, more than $49 billion in transportation terminals, $33 billion in roads, and greater than $4 billion in dams and canals work.”
Construction Starts Here™ at ConstructConnect, where our mission is to help the construction industry start every project on a solid foundation. A leading provider of software solutions for the preconstruction industry, ConstructConnect empowers commercial construction firms to streamline their workflows and maximize productivity. ConstructConnect operates as a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000.