The construction industry is expanding and is predicted to be worth $10.5 trillion by 2022. The expected growth for the market is around 4.2% from 2018 onwards. The US construction industry has about 700,000,000 firms and more than 2.1 million jobs, with $1.3 trillion in annual GDP. The construction industry will add over $1 trillion to the U.S. economy in the first quarter of 2020. Caterpillar crushed the analysts’ forecasts for the first quarter of 2021. Its revenue increased 27% in the year, also seeing evidence of recovery in Lennar Corporation. Autonomous construction vehicles like rovers are used to speed up site inspections. The use of drones in construction is on the rise. The growth of residential green construction is because of regulations and policies requiring energy-efficient buildings.
Insider Monkey draws attention to the 10 construction stocks under $10. The company Perma-Pipe International (Illinois-based) was founded in 1909. It creates and manufactures leak detection systems that are made for the construction industry. It operates in the US, Canada, and Europe as well. Founded in 1976, Hill in, Inc. is based in Philadelphia. They offer consulting and construction services, too. The company is in three continents: the United States, Europe, Africa, and the Asia-Pacific. It has operations in the United States, Canada, and the Caribbean Basin. The company recently announced contracts worth $27 million each. Work will begin in the second quarter of 2021 and be finished by the end of the year. DIRTT Environmental Solutions Ltd. is in the top 10 construction stocks. It speculates, fabricates, and assembles for the interior. Like Caterpillar and Lennar, DRT is inexpensive. Portland Cement Company has three divisions: Concrete, Quicklime, and Construction Supplies. It produces various building and civil engineering concrete products, too. For more details, click 10 Construction Stocks Under $10.
