Industrial Projects to See Spending Increase in 2008

Jan. 1, 2008
Market research firm Industrial Info Resources (IIR), Sugar Land, Texas, is forecasting a 5.55% increase in total investment value (TIV) for North American industrial projects this year compared to 2007. For North America, more than 5,300 major projects with a TIV of $401 billion have been identified to begin construction in 2008. IIR is forecasting that about $245 billion of that total will actually

Market research firm Industrial Info Resources (IIR), Sugar Land, Texas, is forecasting a 5.55% increase in total investment value (TIV) for North American industrial projects this year compared to 2007.

For North America, more than 5,300 major projects with a TIV of $401 billion have been identified to begin construction in 2008. IIR is forecasting that about $245 billion of that total will actually take place by the end of 2008 (after adjustments are made from project fallouts because of cancellations and schedule changes). Using a five-year Confidence Factor (the percent of change in TIV from the initial forecast to the actual number) based on industry trends, the forecasted 2008 value represents a $13.64 billion increase or 5.55% growth when compared with last year's actual spending.

(click here to see chart)

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Fiberglass Electrical Conduit Chemical Resistance Chart

This information is provided solely as a guide since it is impossible to anticipate all individual site conditions. For specific applications which are not covered in this guide...

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.