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The global construction market is being led by regions such as Latin America and the Asia Pacific, which accounted for more than 50% of the world's construction output in 2016. This share is expected to increase to more than 55% by 2021. Construction is referred to as the action of building something, usually a large structure like buildings, bridges, etc. The new emerging trend in the global construction market is the successful implementation and future adantages of the large-scale construction outsourcing model in countries such as the United States. The market is being further driven by the rising government expenditure on planned infrastructure projects.
Skanska AB (STO: SKA-B) and Fluor Corporation (NYSE: FLR) are some of the major key players in the global construction market. In 2020, Skanska AB, a major global development and construction firm, announced the official launch of the company's commercial development in Los Angeles, along with its first acquisition of a commercial development site in Beverly Hills.
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Skanska AB, Fluor Corporation, STRABAG International GmbH, Vinci, PCL Constructors Inc., Consolidated Contractors Company, GS E&C Corp., CIMIC Group Limited, Obayashi Corporation, and McConnell Dowell Corporation Limited, among others, are the key players in the global construction market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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