30 Contractor Industry Statistics You Won’t Want to Miss

Knowing the latest facts, figures, and trends in the industry will help you find new insights into how you communicate with existing clients, find new ones, and stay relevant online. This is a critical part of marketing in the modern era.

Let’s dive into some contractor industry statistics to uncover the latest insights in the industry!

Construction industry statistics you need to see now

These construction industry statistics will provide insight into what the construction industry looks like today and predictions for the future:

1. To keep up with population growth, the construction industry will need to build 1300 buildings across the globe daily to sustain the planet’s population in the year 2050. 
2. The global construction industry is predicted to reach $11 trillion by 2024. 
3. By 2030, the global construction industry is expected to reach a total spending of $17.5 trillion.
4. The U.S. has invested more than $86 billion in green building projects.
5. As of 2022, the five states with the most construction jobs are California with 663,570, Texas with 568,930, Florida with 398,060, New York with 311,160, and Pennsylvania with 214,610.
6. There are 374,000 unfilled jobs in the construction industry in America.
7. 80% of the construction workforce doesn’t belong to a union.
8. AI might be able to increase the construction industry’s profits by 71% by the year 2035.
9. Green buildings can lower water consumption by up to 30% and reduce CO2 emissions by up to 35%.
10. 25% fewer warehouses were added to the building stock in 2023 compared to 2022.
11. 20% of the construction industry in the US is unionized.
12. Building green projects can cost up to 12% more than non-green building projects of the same or similar scope.
13. Women make up 10% of the construction workforce.
14. Green buildings have 9% more asset value than non-green buildings.
15. Elevator and escalator repairers and installers are the highest-paid construction job in the US as of 2023.
16. Construction managers are the second highest earners.
17. The third-highest paying job in the construction industry in America is pile driver operators.
18. Warehouse construction faced a decrease in 2023, but with renewed growth in ecommerce, warehouse construction is predicted to recover by the end of 2024.

Contractor industry statistics: The future of construction

For these statistics on the contractor industry, let’s look at the future of construction. This data can shed some light on the industry, and it’s future, which should provide useful insights for contractors and contracting companies looking to improve their online presence:

1. 92% of contractors report being moderately concerned, at least, about their workers having adequate skill levels.
2. 91% of contractors have trouble filling positions.
3. 74% of contractors say they are asking skilled workers to do more work.
4. 73% of contractor firms report worker shortages are their highest concern.
5. 72% of contractors reported challenges when it came to meeting schedule requirements.
6. A survey run in the US shows that 70% of contractors agree that productivity in the industry can be increased through the use of advanced technology.
7. 62% of contractors reported that it was highly-difficult to find skilled workers.
8. 44% of contractor firms in the US indicate that labor shortages have caused them to extend completion times for projects already started.
9. Around 42% of construction firms are currently experimenting with drones.
10. 29% of firms say they use incentives to attract craftworkers.
11. Up to 20% of an individual worker’s base salary is the average cost of a turnover.
12. More than 10% of workers report using some sort of smartwatch device for work.

Build an online presence for your contractor business with WebFX

As you can see, the contractor industry is continuing to grow, which means you need to get ahead and start marketing your business today. If you need a partner who can help you get more for your contracting company, WebFX is an award-winning choice.

With over 29 years of experience in digital marketing, we know how to create campaigns that drive revenue and business growth. We’ve already driven $10 billion in revenue for our clients!

Contact us today or call us at 888-601-5359 to find out how we can help your contractor company earn more jobs!

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