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| Industry Forecast I: Industrial Segment |
| Column | |
| By Heather Jones | |
| Tuesday, 25 September 2007 | |
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The construction put-in-place manufacturing market will increase 9 percent to more than $40.3 billion in 2007. It will increase another 8 percent in 2008 to almost $43.6 billion and is predicted to reach more than $52.8 billion in 2011. Manufacturing construction has been a hot topic since it began plummeting in the late 1990s. First, offshoring was the biggest area of concern for manufacturing construction and it was soon followed by a national recession. In 2004, manufacturing construction began its turnaround, and is finally expected to surpass its 1998 high of almost $40.7 billion in 2007. However, put-in-place construction is forecast in current dollars. Therefore, after dismissing inflation, manufacturing construction levels will remain just below its previous high until 2008. The manufacturing segment is large and diverse, accounting for more than $36.9 billion in 2006. The largest construction put-in-place subsegments are:
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