Construction Spending Will Support Revenue Gains
CLEVELAND, April 24, 2019 — (PRNewswire) — US architectural service revenues are forecast to rise 2.1% annually in nominal terms through 2023, according to Architectural Services: United States, a report recently released by Freedonia Focus Reports. Demand for services from domestic establishments is closely tied to US construction expenditures, which are forecast to rise 4.3% through 2023. Providers of architectural services stand to benefit from a growing emphasis on sustainable design. Value gains over the historical period were promoted by increasing demand for architects and designers certified by the US Green Building Council's Leadership in Energy and Environmental Design (LEED) program, which heightened architectural design time and fees among other costs. This factor will continue to support value growth into the forecast period as demand for LEED certification continues to expand. Foreign demand for architectural services provided by US-based establishments will remain severely restrained by competition from establishments outside the US, including the foreign operations of US firms.
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These and other key insights are featured in Architectural Services: United States. This report forecasts US architectural services revenues in nominal US dollars to 2023. Total revenues are segmented by market in terms of:
- interior design
- other markets such as historical restoration, architectural advisory, and urban planning
To illustrate historical trends, total revenue and the various segments are provided in annual series from 2008 to 2018.
This report includes the revenues of both employer and nonemployer establishments. US architectural service providers' revenues include income from all domestic locations primarily engaged in providing architectural services. Thus, receipts from other activities performed by these locations are included in total revenues. Receipts from establishments that may provide such services but are primarily engaged in a different activity are excluded from this report.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group
|Company Name: The Freedonia Group