Most Profitable Construction Niches 2023-2024 | Application & Requirements
We are pleased to inform you about Most Profitable Construction Niches 2023-2024 | Application & Requirements
Although it can be challenging to separate the most lucrative building niches from others, this article should provide you with a lengthy list of them.
The construction industry has a huge selection of lucrative construction specialties. You can choose one of these areas, specialize in it, and build the kind of wealth you desire.
But there’s a challenge. Yes, a lot of people are asking “what is the most profitable construction niche?”. Why are they asking? This is simply because nobody wants to invest his/her resources in an adventure that is not profitable or rewarding.
Therefore, it is in the bid to answer this challenging question, that we have researched and compiled the most profitable construction niches for you.
With the help of this article, you will discover the top-ranking construction niches with fat earning! Before that, let’s take a sneak peek at what the construction industry looks like.
The Construction Industry
Around the world, the construction industry is known to be very lucrative with different profitable niches. However, it is not the largest in the United States economy but constitutes a greater percentage of it.
Currently, the United States has the second largest construction market globally.
In the United States, the construction industry has over 700 thousand employers of labor and about 8 million employees. In addition, the industry generates a $1.4 trillion estimate of structures in a year. As of 2021, the market’s size was $1.9 trillion.
The Most Profitable Construction Niches
Below is the list of the most profitable construction niches:
Site Safety Manager
Site safety managers work with inspectors to ensure that safety measures, regulations, and ordinances are adhered to on-site.
Currently, about 39, 119 safety managers are employed in the United States.
- Earning: Site safety managers earn fat salaries in a year. An average of $111, 870 in a year. Beginners make about $84, 950 yearly while full-time professionals get paid over $127, 720 per year. It is worthy of note that the above earnings are determined by experience, company, and location. Workers also stand a chance of getting stipends and allowances.
- Work Environment: These sets of people work mainly indoors and sometimes outdoors to inspect the work on site. They also work in the evening as the case may be.
- Education Qualification And Experience: A bachelor’s degree in construction management and civil engineering is the least education qualification for this niche. Meanwhile, some companies may demand a Master’s degree.
A renovation contractor sees the remodeling of an already erected structure. Renovation contractors are in high demand in the United States with attractive earnings.
Currently, there are about 524, 387 renovation contractors in the United States.
- Earning: Renovation contractors earn between $90, 566 and $ 125, 200 in a year. The average yearly salary of a renovation contractor is $100, 426. Full-time renovators may attract additional benefits. Location and education qualification play a role here.
- Work Environment: They work both indoors and outdoors but mostly outdoors.
- Education Qualification And Experience: At least, a high school diploma and four years of experience as an apprentice.
Construction superintendents are responsible for planning, budgeting, scheduling, and completing projects on the site.
They are highly sought-after and there are over 200, 000 employed construction superintendents in the United States.
- Earning: A construction superintendent can earn as high as $107,916 and average, $84, 920 in a year. However, experience, education level, and location play a great role here. Meanwhile, there are other benefits attached for full-time workers like a pension plan.
- Education Qualification And Experience: A minimum of a high school diploma or GED is required. Although for better pay, a bachelor’s degree in construction management, construction science, and engineering is needed.
- Work Environment: Construction superintendents work both in the office setting and on-site. Outdoors, he tends to work in noisy and in some cases muddy areas.
Elevator Installing And Repairing.
This is another profitable construction niche on our list. Specialists here are called elevator installers and repairers or elevator constructors and mechanics.
They are skilled in installing and repairing automated people movers, elevators, escalators, and dumbwaiters. There are over 26, 000 elevator constructors in the United States.
- Earning: Elevator constructors and mechanics earn a median salary of $79,780 in a year. Though this is based on factors like experience and location. Workers who are apprentices or yet to become journeymen earn $40,850 which is 50% of a full-time constructor($79.780). Full-time journeymen earn over $121,200 annually. Workers also stand the chance to receive other benefits like health insurance, paid vacation, retirement plans, and training.
- Work Environment: The work environment for elevator installation and repair is usually indoors with a standard of 40 work hours per week. Workers can also work extra hours for additional payment.
- Qualification And Experience: At least, a high school diploma is required with 6 months of experience for apprentices and four years of experience for journeymen.
Architects are responsible for designing structures. The layout plans, draw them and may provide specifications for the contractors.
They visit the construction sites to ensure works are going on based on stipulations. There are currently 1200, 801 employed architects in the United States.
- Earning: Architects earn lucrative salaries. Senior architects earn an average of $79,380 while junior architects earn $62, 356 in a year. Beginners can earn as low as $48, 001 while full-time journeymen get paid $138, 120.
- Work Environment: The work of architects is mostly indoors and sometimes outdoors to inspect the building projects and to ensure they are according to specifications.
- Education Qualification And Experience: At least, a bachelor’s degree is needed with 3 years of experience for junior apprentices.
Surveyors are experts in taking measurements of the land. These measurements may be the length, width, or depth of points.
No doubt, surveyors are in high demand in the United States and there are over 71, 200 surveyors in the United States.
- Earning: The earnings of surveyors in the United States are quite attractive. With an average salary of $63, 210 annually. Beginners may earn less than $40, 241 in a year while full-time professionals earn over $80, 534 per year. For the full-time surveyors, there are other benefits entitled to them though, it depends on the area, employer, and experience of the surveyor.
- Work Environment: Surveyors always work outdoors since their job is to take measurements of the land. Their work environment is friendly and less hazardous.
- Education Qualification And Experience: At least, a high school diploma or post-secondary School training. Four years experience as an apprentice. For higher earnings, one may need to present a higher certificate like Bachelor’s degree.
This set of constructors specializes in assembling and repairing boilers. Furthermore, they also handle vats, tanks, and other metal equipment that accommodate liquids.
While the makers focus on cutting and riveting, the boilermaker mechanics repair. Currently, there are over 15, 000 boilermakers and mechanics in the United States.
- Earning: The average salary of boilermakers is $62,150 per year in the United States. Apprentices earn about 40 to 50% of journeymen. Journeymen get paid over $89, 940 annually. Though this depends on the geographical location, experience, and the company. Boilermakers and mechanics also have access to allowances and insurance including paid vacation and training and courses.
- Work Environment: Boilermakers and mechanics work for 40 hours a week. Their works are more detrimental than other constructors. This is because they work with heavy metals which positions them as the highest constructors with in-job-injuries.
- Qualification And Experience: You should have at least a high school diploma and four to five years of apprenticeship program under a journeyman.
Interior designers have the role of selecting space functions and designing and beautification the inner side of buildings.
In the past, they made use of paper for drafting; however, the advent of technology has lessened the burden of most interior designers.
- Earning: The average salary per year for an interior designer is $61,975, the highest paid worker is about $100,601 while the below-average is $38, 180. There are also allowances attached to full-time designers.
- Work Environment: Interior designers work indoors (Office settings, residential buildings, and other related structures) and may travel to the client’s site.
- Education Qualification And Experience: A bachelor’s degree or an associate degree in interior design is the least education qualification. A 3 years apprenticeship program is also welcomed.
Exterior designers see the beautification of the outside of buildings. They are paid huge salaries.
- Earning: Exterior designers earn a median salary of $60, 602 yearly. Less experienced designers earn $53,000 while highly experienced workers earn $67, 988.
- Work Environment: Exterior designers work mostly outdoors. And may not be exposed to many dangers like other workers handling heavy metals.
- Education Qualification And Experience: A Bachelor’s degree and an associate degree is the least education qualification for exterior designers.
Construction And Building Inspector
A construction and building inspector’s role is to ensure that structures like highways, dams, residential buildings, commercial buildings, sewage, and other related structures are properly erected according to stipulations and regulations.
There are about 458, 649 ( 38.3% women and 61.7% men) employed construction and building inspectors in the United States.
- Earning: Inspectors earn an average salary of $59, 700 a year. Though it is between $50,250 and $67, 750 in a year. It all depends on how much experience the worker has, the location of the company, and the certificate of the worker. Other work benefits also apply to full-time workers. Including overtime payment.
- Education Qualification And Experience: A minimum bachelor’s degree in construction management, construction science, and engineering.
- Work Environment: Construction and building inspectors work outdoors (on-site).
An ironworker simply provides support through iron and steel. Ironworkers are one of the most sought-after workers in the construction industry. There are about 120, 000 in the United States.
- Earning: Annually, an ironworker earns an average of $58,550. Beginners earn around $36, 610 while full-time journeymen can earn more than $98,000. Being in a better geographical location, having a good number of years of experience and good employer gives one a better stand to earn higher. Moreover, there are other benefits ironworkers enjoy besides their salaries. Though, this pertains to full-time journeymen.
- Work Environment: The work environment for ironworkers is not friendly. They tend to work with heavy metals which places them at risk of injuries and death. In all, it can work both indoors and outdoors.
- Qualification And Experience: To be part of this niche, four years of apprenticeship and a high school diploma or post-secondary training are the least requirements.
Plumbing is another lucrative construction niche. Here, the workers see to the installing, repairing, and fixing of channels or systems through which liquids flow. In the US, there are about 480, 600 plumbers.
- Earning: The median salary of a plumber in the United States is $56,330 as of 2020. The apprentices made around $42, 330 while the journeymen earned $75, 370 per year. Just like other niches, location, type of employer, and level of experience also are great determinants of salary. Moreover, full-time journeymen are entitled to other benefits like health insurance and paid travel.
- Work Environment: Plumbers can work anywhere provided there are needs to fix pipes and other channels there. Again, weekend and evening jobs are common and they may work in a smelly environment.
- Qualification And Experience: Experience is very important here. Four years of experience and a high school diploma are acceptable for beginners.
Site clearers make sure that they discard any material be it metal, wire, rubber, stones, or whatever on the site before and after the completion of projects. There are numerous businesses offering site clearing services in the United States.
- Earnings: On average, a site clearer earns $48,977 annually. Junior clearers may earn $34, 543 while the highest paid gets $77,500 every year.
- Work Environment: Site clearers usually work in the field. The work on the site before the commencement of work and after work on the site.
- Education Qualification And Experience: There is no formal requirement for site clearers, however, workers should have at least a high school diploma and 3 of in-job-training.
The masons are responsible for the use of bricks, concrete, blocks, and other substantial materials to erect walls, buildings, and other structures. Over 51, 000 masons are in the United States. 21.3% are women while 78.7% are men.
- Earning: The earnings of a Mason lie in a lot of factors. Factors like experience and location. However, on average, a mason earns a salary of $48, 040 yearly. $32, 470 for beginners and over $78, 800 per year for full-time workers with experience. Additional benefits may also apply.
- Work Environment: Mason works both on the field and off the field. However, most of their work is done outdoors. They work in dirty, dusty, and sometimes muddy conditions. Moreover, they climb, kneel, and also bend to perform their work. Although they may get injuries at work, their environment is friendlier.
- Education Qualification And Experience: A minimum of a high school diploma and apprenticeship are required. For better and higher pay, B. Sc and other degrees may apply.
The borehole drilling business is another profitable construction niche. They help to make holes in the ground for water outlets. There are over 6, 000 borehole drilling businesses in the United States.
- Earning: Borehole drilling businesses in the United States make huge earnings per year. An average driller makes about $47, 983 in a year.
- Education Qualification And Experience: A minimum of a high school diploma is needed, and a bachelor’s degree is a plus.
- Work Environment: Borehole drillers work outdoors and also handle heavy materials that demand carefulness and safety.
Carpentry is another profitable construction niche on our list. Carpenters use wood, plywood, and wallboard for construction. Some Carpenters can work on buildings while others may work onsite – bridges, vat, boats, docks, and so on.
It was reported that there are over 700, 000 carpenters in the United States.
- Earning: Full-time carpenters earn a median salary of $46, 590 a year. Beginners may earn 10% as low as $28, 860 while the highest paid gets a salary of more than $82, 750. Full-time journeymen also have other benefits attached which may not be available to part-time workers.
- Work Experience: Carpenters can work in any environment both indoors and outdoors. Rough carpenters usually work outdoors. The environment is usually noisy, hot, and dusty. Moreover, workers are likely to fall off scaffolding or ladders and get injuries if proper safety measures are not adhered to.
- Education Qualification And Experience: A minimum education level of a high school diploma is needed and four years of apprenticeship.
The list of profitable construction niches will be incomplete without the electricians. They specialize in installing and repairing fixtures and wiring.
They take care of all the electrical work ranging from lights, air-conditioning, heat, and other related works. In the United States, there are about 712, 000 electricians.
- Earning: Electricians earn an average of $45, 000 a year. Beginners (apprentices) earn less than $32, 430 per year while the journeymen get paid over $94, 300 annually. Membership in a union, experience, location, and the type of company determine the salary of an electrician to a great extent. Journeymen who are in the industry’s main labor union stand the chance for additional benefits.
- Work Environment: The work of an electrician can be tedious. It can be indoors or outdoors depending on the type of work. They work 40 hours a week. Also, they can opt for overtime. In addition to that, maintenance electricians are also required to work on weekends.
- Qualification And Experience: A minimum of a high school diploma and four years of experience as an apprentice.
Painting is another lucrative niche in the construction industry. They paint walls, windows, doors, and any structure that requires painting.
- Earning: Painters earn an average salary of $43, 043 yearly. Beginners get paid around $29, 770 while highly experienced painters earn $70, 570 per year.
- Work Environment: Painters work indoors and outdoors in a friendly environment.
- Education Qualification And Experience: There are no formal education requirements for painters. Although some technical schools offer certificates in painting. However, apprenticeship programs are required for better earnings.
The Crane operator has the role of lifting heavy materials safely and efficiently on the site. It is very lucrative with over 46, 000 operators in the United States; 4.5% are women while 95.5% are men.
- Earnings: Crane Operators earn between $33, 150 and $65, 975 yearly with a median salary of $40,976 per year. Full-time and well-experienced crane operators may stand the chance of receiving allowances.
- Work Environment: Crane operators work mainly outdoors in a noisy environment and may stay some days away from their families.
- Education Qualification And Experience: There is no education qualification for crane operations rather an apprenticeship program is required for the effective operation of the crane.
Solar Panel Installation
Last but not least most profitable construction niche is solar panel installation. Installers here are responsible for installing and maintaining solar panels efficiently and safely. There are over 7, 721 solar panel installers in the United States.
- Earning: they earn a median salary of $31,036 in a year. However, earnings are usually between $26,916 and $36,940.
- Work Environment: solar panel installers work outdoors. Though they may talk with others they often work alone.
- Education Qualification And Experience: A bachelor’s degree or an associate degree is the minimum education requirement for solar panel installers. 3 years apprenticeship program is also acceptable.
The above article is the list of most profitable construction niches and we hope it helps you get the best niche for your construction career.
We are confident that you know exactly which building specialty to enter after thoroughly examining the most lucrative ones in the sector.
Remember that your income will be greatly influenced by your location, experience level, and employer (business). We hope the best for you!
We appreciate you taking the time to read the entire article about the most lucrative construction niches. Please check out more of our posts on career advice.
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