NAICS 2341 - Highway, Street, Bridge, and Tunnel Construction
This NAICS Industry Group includes establishments classified in the following NAICS industries: 23411, Highway and Street Construction; and 23412, Bridge and Tunnel Construction.
Industry trends:
The Highway, Street, Bridge, and Tunnel Construction industry, under NAICS 2341, is experiencing several key qualitative trends. One significant trend is the increasing emphasis on sustainable construction practices. Governments and private entities are prioritizing projects that incorporate eco-friendly materials and methods, driving demand for green technologies and practices in construction. This includes greater use of recycled materials, improved energy efficiency in construction processes, and sustainable urban planning that reduces the environmental impact of new infrastructure.
Another trend is the integration of advanced technologies such as digital modeling, AI, and IoT (Internet of Things) in project planning and execution. These technologies help improve accuracy, efficiency, and safety, enabling more precise project forecasts, lower costs, and faster completion times. This digital transformation also allows firms to better manage resources and logistics, which is crucial in a sector constrained by materials and labor shortages.
Infrastructure resilience and adaptability are also gaining attention, especially in response to climate change and increasing urbanization. Construction projects are designed to withstand extreme weather events and include features that enhance urban mobility and reduce congestion. Governments are allocating funds towards infrastructure that supports electric vehicles, public transportation, and smart city initiatives.
Looking into the future, significant investments in government infrastructure programs are expected to fuel industry growth. In North America, this manifests in large-scale funding from initiatives aimed at modernizing aging infrastructure, advancing regional connectivity, and enhancing the sustainability of transport networks. As policy shifts continue to emphasize infrastructure improvements, the sector stands to benefit from long-term funding commitments, facilitating increased project pipelines and innovation incentives. The demand for skilled labor is expected to rise, prompting initiatives for workforce development and training.
This industry is comprised of:
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