Data Centers Dominate Construction Market with $223.6 Billion Worth of Projects in Pipeline

While spending on new construction  is off a few percentage points over this time last year, you wouldn’t know it from looking at the 50 largest construction projects in the pipeline or underway that Electrical Marketing’s staff recently found (see table below).
In total, these projects represent $326.7 billion in total contract value, and when you figure that electrical work typically accounts for at least 10% of the average construction job, there’s a ton of business potential out there. One big challenge — for the megaprojects listed in this issue an estimated 68% ($223.6 billion) are data centers. That’s good news for companies already focusing on servicing these projects, but sobering news for other companies on the outside looking in.
When you consider that the electrical spend account for 25% of a data center project according to the U.S. Chamber Technology Engagement Center (C-TEC) and the American Society of Professional Estimators, the estimated electrical potential with data centers is $55.9 billion.
Data centers projects are getting bigger all of the time, and we found 11 projects  underway or in the planning or design phase that topped $10 billion in contract value. The largest of the proposed data center campuses is a $33 billion project that Vermaland, a Phoenix-based land development and banking company,  wants to build in Elroy, AZ, south of Phoenix, AZ, according to a post at www.datacenterdynamics.com. 
Most of the other super-sized projects with total contract values topping $10 billion are still on the planning or design stage, but the $10-billion much-needed renovation of New York’s Port Authority bus terminal and the $10-billion Fab3/Phase 3 expansion of the Taiwan Semiconductor factory in the Phoenix metropolitan area are underway, and the $10-billion Google Project Mica data center campus in Kansas City, MO, got funding approved in June 2025.
Other interesting megaprojects now underway include the $2.25-billion Eli Lilly Medicine Foundry in Lebanon, OH; BXP’s $2-billion 343 Madison Ave. 930,000-sq-ft office tower in New York; the $1.6-billion Amtrak East River Tunnel Rehabilitation project in Long Island City, NY; and the $1-billion Merck Biologics Center in Wilmington, DE.