Global Construction Market Research Report
The market for global construction is anticipated to grow by an average of around 3-4 percent by 2022 with LATAM and APAC holding more than 55 percent, i.e., half of the world’s construction output by 2020. The key trend in the global construction industry is the significant growth of the construction sector in emerging markets such as India, China, Vietnam, Australia, and Indonesia. Presently, the African construction industry values at $210 billion and is expected to reach $260-$300 billion in 2021. The Brexit pressure, slow order book growth, and inflationary input costs will be key challenges in the construction market in the U.K. Among Asian countries, India and China are expected to contribute more to construction accounting to $55 trillion by 2030.
Global Construction - Industry Outlook & Forecast
- The US, China, and India are expected to hold an approximately 50 percent share, worth $87 trillion, in incremental construction spending over the next 15 years
- North America is expected to grow by a CAGR of 4–5 percent to reach $1.77 trillion in 2019, with an increase in investment in the industrial, public, and residential construction activities
- Integrated project delivery is expected to be an emerging trend, enabling successful implementation and potential benefits of this outsourcing model in large-scale projects in the US.
- Reduction in lifecycle cost and time are key factors that led to an increase in the usage of technologies like BIM (3D&4D), laser scanning, 3D printing, and smart building systems in the global construction sector.
Construction Market Outlook—US
- The US construction industry was expected to grow at a CAGR of 4–5 percent from 2016 to 2019, driven by the residential, commercial, and industrial sectors. By 2020, the US is expected to spend $3.6 trillion in modernizing/replacing existing infrastructure
- In 2019, the transportation segment is expected to witness the highest increase with 9 percent in the US construction spend, public safety construction spend increase by 6 percent, mainly due to the government’s plan to invest $1 trillion in infrastructure development
- Industrial construction is expected to grow by approx. 4–5 percent in 2019, driven by the construction of transportation facilities and industrial facility expansions
Why should you buy this report
The report provides insights on the following:
- Mergers and Acquisition
- Global Construction—Smart Building Innovations
- Regional market outlook- North America, South America, Brazil, Europe
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
The report elaborates on the market overview of the global construction industry of various regions such as the U.S., South America, Europe, APAC, and the Middle East. The report also identifies the drivers and constraints that impact the global construction market and provides the Porter’s Five Force Analysis for emerging as well as developed regions. The report further shares the best procurement practices and the key factors for successful sourcing. It also infers the key performance indicators with pricing model analysis in the global construction market.
Methodology for writing this Report
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.