NAICS 233 - Building, Developing, and General Contracting
Industries in the Building, Developing, and General Contracting subsector comprises establishments primarily responsible for the entire construction (i.e., new work, additions, alterations, and repair) of building projects. Builders, developers, and general contractors, as well as land subdividers and land developers are included in this subsector. Establishments identified as construction management firms for building projects are also included. The construction work may be for others and performed by custom builders, general contractors, design builders, engineer-constructors, joint-venture contractors, and turnkey contractors, or may be on their own account for sale and performed by speculative or operative builders.
Industry trends:
The Building, Developing, and General Contracting industry (NAICS 233) is currently experiencing several qualitative trends fueled by technology integration, sustainability demands, and changing market dynamics. One of the most significant trends is the increased adoption of Building Information Modeling (BIM) and virtual reality (VR) for project planning and visualization. These technologies help reduce errors and improve efficiency, making project management more streamlined and cost-effective.
Sustainability is another key trend impacting the industry. There is a heightened focus on green building practices, energy-efficient designs, and the use of sustainable materials. This shift is driven by both regulatory requirements and consumer demand for environmentally friendly construction solutions.
The industry is also seeing a surge in modular and prefabricated construction methods. These approaches offer faster project completion times and can significantly lower costs. Additionally, the labor shortage in skilled trades is pushing general contractors to adopt these methods to meet project timelines and budgets more effectively.
Forecasts for the near future indicate that these trends will continue to evolve. The integration of artificial intelligence and machine learning for predictive analytics in construction management is expected to grow, enhancing project forecasting and risk management. Furthermore, the increased emphasis on smart buildings equipped with IoT devices will become more prevalent, responding to the rising demand for connected and efficient infrastructures.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.