While huge growth may be a way off for North America's construction markets, there are some impressive projects with the capacity to enhance both local and regional economies. The current situation in the US construction market has been described as both "half fast" and near normal with economists quick to mention the presence of headwinds and tailwinds. Clearly it's not easy to predict the future for this market, which has a significant knock-on effect on the market of Canada.

 

The record breaking year for US construction, of course, was 2008 when domestic put in place construction peaked at US$ 1.32 trillion.

 

Nearing a decade later, it seems unlikely that the number will exceed a trillion again before 2018. Weaker sectors in the market are growing only at the rate of inflation, but stronger elements are pulling the industry up with 8% or 9% growth rate.

 

In Loudoun county, Virginia, the population grew by almost 84% between 2000 and 2010 making it one of the fastest growing in the U.S. Subsequently, the power needs of the area were not being adequately met, and six new combine cycle gas turbine plants, with a total capacity of 4800 MW are expected to come online by 2018.

 

Construction in the US would not be what it is without Caterpillar, and the state of the world's largest construction equipment manufacturer gives a strong indication of the state of market, not only in the U.S. but worldwide.

 

LaGuardia Gateway partners is a group comprising Vantage Airport Group, Skanska and Meridian for development and equity investment; Skanska and Walsh Construction as the construction joint venture; HOK and Parsons Brinckerhoff as the design joint venture ; and Vantage Airport Group for management of the operations. 

 

The group is currently undertaking the US$ 4 billion redevelopment of the New York airport's Terminal B. The 1.3 million sq. ft., 35 gate terminal building will be built while the existing terminal remains fully operational. 

 

In March this year, the federal government of Canada announced it was making a long-term commitment to the funding of infrastructure to the tune of US$ 120 billion. Just after this announcement the government of Alberta set in motion two projects on PPP mode.

 

Chinese companies are also keen to get involved in Canada's infrastructure renewal programme, particularly where it involves railway construction.

 

Talks are currently underway between the federal government and China's state owned Railway construction corporation over a proposed $ 2 billion railway line in Ontario. 

 

Also, Canada is constructing $ 6.5 billion power project on Nelson River with an investment of $ 6.5 billion.