Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Sports Stadium Construction in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Sports stadium construction companies faced significant setbacks in recent years as the pandemic prevented and delayed many major construction projects. Non-residential construction plans were put on hold, leading to a sharp decline in demand for new sports stadiums. Most of the industry's demand for new stadiums originates from educational institutions like high schools and universities or commercial sports franchises and leagues. The absence of in-person viewership and uncertainty surrounding sports events caused a plummet in revenue for construction companies.
Despite these challenges, the educational institution market remained a stable source of demand for construction projects, helping to mitigate some of the losses experienced in the sports sector. Over the years to 2024, revenue has fallen at a CAGR of 0.9% to $14.4 billion, including a 0.2% increase that year. Construction companies managed to maintain profit stability despite revenue loss.
Industry Statistics and Trends
The pandemic severely impacted the industry.
- Demand for stadium construction from sports franchises fell as many leagues were shut down to encourage social distancing and reduce the spread of COVID-19.
The new construction segment has grown as stadiums are increasingly becoming more advanced.
- New stadiums with advanced technology are costly to construct.
Stadium construction companies are widely spread out across the country.
- The number of stadiums in each US region typically correlates with the region's population levels.
Internal competition is intense as operators bid for projects.
- Pricing and the ability to leverage economies of scale are also significant factors in competition.
The educational institution market has remained stable
- Demand for construction projects by educational institutions has been relatively stable over the past five years. Spending on primary and secondary education grew in response to growing tax revenue, generating funding and support for construction projects, like high school sports arenas and fields.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Company Coverage:
- M. A. Mortenson Company
- Turner Construction Company
- Aecom
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
For more information about this report visit https://www.researchandmarkets.com/r/6pyzqn
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