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Building Inspectors in the US - Market Research Report (2014-2029)

Alexander Govdysh Alexander Govdysh New York, United States Last Updated: February 2024 NAICS 54135

Revenue

$5.1bn

2024

$5.1bn

Past 5-Year Growth

Profit

$XXX.Xm

Employees

46,077

Businesses

30,251

Wages

$X.Xbn

Building Inspectors in the US industry analysis

The Building Inspectors industry evaluates a building's structure and component systems, workmanship and compliance with building standards and zoning laws. One of the industry's most significant revenue streams comes from homebuyers and sellers that hire inspectors to ensure the integrity of the house and that all regulations are met before sale. Other major markets include commercial building buyers, government agencies and parties involved in building construction. The industry benefited from a long period of low interest rates, with consumers encouraged to invest in large-item purchases, such as homes. These positive economic trends have enabled revenue to grow at a CAGR of 3.3% to an estimated $6.0 billion over the past five years.

Trends and Insights

  • High interest rates continue to influence demand for building inspection services. If acquiring a home becomes too expensive for consumers, it will dampen housing activity and lower demand for inspection services.
  • Rising inflationary pressures negatively affect private building inspection demand. As consumers' purchasing power declines, they will be less inclined to acquire a home and demand building inspection services.
  • Expansive population presence strengthens building inspection demand. In regions with larger populations, there will be a larger availability of buildings, creating a wide array of demand for building inspectors.
  • Maintaining competitive pricing helps smaller inspectors stand out. Since the industry is fragmented and lacks a centralized market presence, smaller inspectors must implement competitive pricing to stay ahead of their competition.
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Everything you need in one report

  • Reliable market estimates from 2014-2029
  • Competitive analysis, industry segmentation, financial benchmarks
  • Powerful SWOT, Porter’s Five Forces and risk management frameworks
  • Online membership platform with PDF, Word, Excel and PPT exports

Industry Overview

Market size and recent performance (2014-2029)

Industry revenue has declined at a CAGR of 0.2 % over the past five years, to reach an estimated $5.1bn in 2024.

Trends and Insights

Stable housing demand fuels growth in building inspection services

  • Most of building inspection services demand is dependent on strong housing demand among private, commercial and government clients.
  • Additional trends and insights available with purchase

Industry outlook (2024-2029)

Market size is projected to decline over the next five years.

Trends and Insights

Rising inflationary pressures will hurt demand for building inspection services

  • With rising inflationary pressures forcing the Federal Reserve to hike interest rates, increasing consumer borrowing costs, demand for real estate acquisition will decline, resulting in lower need for building inspection services.

Biggest companies in the Building Inspectors in the US

Company
Market Share (%)
2024
Revenue ($short_0)
2024
Profit ($short_0)
2024
Profit Margin (%)
2024

There are no companies that hold a large enough market share in the Building Inspectors in the US industry for IBISWorld to include in this product.

Products & Services Segmentation

Building Inspectors in the US

Products & Services

Industry revenue is measured across several distinct product and services lines, including Home inspection services, Commercial building inspection services and Specific element inspection services. Home inspection services is the largest segment of the Building Inspectors in the US.

Trends and Insights

Decline in existing home sales dampens demand for home inspection services

  • This product segment is composed of revenue generated from the sales of building inspection services at residential and private homes.
  • More insights available in the full report

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Competitors

  • There are no industries to display.

Complementors

  • Real Estate Sales & Brokerage in the US
  • Property Management in the US
  • Real Estate Appraisal in the US
  • Architects in the US
  • Engineering Services in the US
  • Pest Control in the US

International industries

  • Global Engineering Services
  • Engineering Services in Canada
  • Engineering Consulting in Australia
  • Engineering Consulting in New Zealand
  • Consultant Engineering Services in the UK

View all industries in United States

Table of Contents

About this industry

Industry definition

This industry includes companies that primarily perform inspections on buildings. When industry representatives inspect a building, they evaluate all aspects of its structure and component systems and prepare a report on the physical condition of the property. These reports are written for buyers or others involved in real estate transactions. Building inspection bureaus and companies that carry out home inspection services are also included in this industry.

What's included in this industry?

Home Inspection Services Specific Element Inspection Services (electrical, fire, roofing and plumbing) Commercial Building inspection services New home construction inspection services Engineering consulting services

Companies

Purchase this report to view all major companies in this industry.

Related Terms

HOUSE PRICE INDEXHOUSING STARTSRADONSPECIFIC ELEMENT INSPECTION

Industry Code

NAICS 2017

NAICS 54135 - Building Inspectors in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

High interest rates continue to influence demand for building inspection services. If acquiring a home becomes too expensive for consumers, it will dampen housing activity an...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Rising inflationary pressures negatively affect private building inspection demand. As consumers' purchasing power declines, they will be less inclined to acquire a home and ...

In this chapter

  • Products & Services
  • Major Markets

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Expansive population presence strengthens building inspection demand. In regions with larger populations, there will be a larger availability of buildings, creating a wide ar...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each state in 2024
  • Number and share of revenue each state accounts for in 2024
  • Number and share of wages each state accounts for in 2024
  • Number and share of employees in each state in 2024

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

Maintaining competitive pricing helps smaller inspectors stand out. Since the industry is fragmented and lacks a centralized market presence, smaller inspectors must implemen...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

The Building Inspectors industry has no major companies. Since the industry is localized and highly fragmented due to a large presence of nonemployers, no company can capture...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024

Detailed analysis

    External Environment

    Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

    Analyst insights

    Gauging the housing market is crucial for industry demand. If housing starts and existing home sales grow in frequency, there will be more demand for building inspector servi...

    In this chapter

    • External Drivers
    • Regulation & Policy
    • Assistance

    Key metrics

    • Regulation & policy level and trend
    • Assistance level and trend

    Charts

    • Regulation & Policy historical data and forecast (2014-2029) 
    • Assistance historical data and forecast (2014-2029) 

    Detailed analysis

    • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
    • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
    • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

    Financial Benchmarks

    View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

    Analyst insights

    Dependence on stable economic conditions will influence industry profit. As economic conditions improve and demand for housing grows, the industry will grow in profitability.

    In this chapter

    • Cost Structure
    • Financial Ratios
    • Key Ratios

    Key metrics

    • Profit margin, and how it compares to the sector-wide margin
    • Average wages, and how it compares to the sector-wide average wage
    • Largest cost component as a percentage of revenue
    • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

    Charts

    • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Investment vs. share of economy

    Data tables

    • Industry Multiples (2017-2022)
    • Industry Tax Structure (2017-2022)
    • Income Statement (2017-2022)
    • Balance Sheet (2017-2022)
    • Liquidity Ratios (2017-2022)
    • Coverage Ratios (2017-2022)
    • Leverage Ratios  (2017-2022)
    • Operating Ratios (2017-2022)
    • Cash Flow & Debt Service Ratios (2014-2029)
    • Revenue per Employee (2014-2029)
    • Revenue per Enterprise (2014-2029)
    • Employees per Establishment (2014-2029)
    • Employees per Enterprise (2014-2029)
    • Average Wage (2014-2029)
    • Wages/Revenue (2014-2029)
    • Establishments per Enterprise (2014-2029)
    • IVA/Revenue (2014-2029)
    • Imports/Demand (2014-2029)
    • Exports/Revenue (2014-2029)

    Detailed analysis

    • Trends in the cost component for industry operators and their impact on industry costs and profitability 

    Key Statistics

    Industry Data

    Data Tables

    Including values and annual change:

    • Revenue (2014-2029)
    • IVA (2014-2029)
    • Establishments (2014-2029)
    • Enterprises (2014-2029)
    • Employment (2014-2029)
    • Exports (2014-2029)
    • Imports (2014-2029)
    • Wages (2014-2029)

    Methodology

    How are IBISWorld reports created?

    IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

    Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

    IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

    What data sources do IBISWorld analysts use?

    Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

    Key data sources in the US include: 

    • US Census Bureau
    • US Bureau of Labor Statistics
    • US International Trade Commission

    Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

    These sources include:

    • Industry and trade associations
    • Industry federations or regulators
    • Major industry players annual or quarterly filings

    Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

    How does IBISWorld forecast its data?

    IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

    IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

    Learn more about our methodology and data sourcing on the Help Center.

    Frequently Asked Questions

    Unlock comprehensive answers and precise data upon purchase. View purchase options.

    What is the market size of the Building Inspectors in the US industry in United States in 2024?

    The market size of the Building Inspectors in the US industry in United States is $5.1bn in 2024.

    How many businesses are there in the Building Inspectors in the US industry in 2024?

    There are 30,251 businesses in the Building Inspectors in the US industry in United States, which has grown at a CAGR of 2.3 % between 2019 and 2024.

    Has the Building Inspectors in the US industry in United States grown or declined over the past 5 years?

    The market size of the Building Inspectors in the US industry in United States has been declining at a CAGR of 0.2 % between 2019 and 2024.

    What is the forecast growth of the Building Inspectors in the US industry in United States over the next 5 years?

    Over the next five years, the Building Inspectors in the US industry in United States is expected to decline.

    What does the Building Inspectors in the US in United States include?

    Home Inspection Services and Specific Element Inspection Services (electrical, fire, roofing and plumbing) are part of the Building Inspectors in the US industry.

    How competitive is the Building Inspectors in the US industry in United States?

    The level of competition is moderate and increasing in the Building Inspectors in the US industry in United States.