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Global Construction Market Size, Share, Trends, Analysis, Forecast: By End Use: Commercial, Residential, Industrial, Education and Research, Medical and Healthcare, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Construction Market Outlook
The global construction market size reached a value of approximately USD 12.74 trillion in 2022. The market is further estimated to grow at a CAGR of 6.5% between 2023 and 2028 to attain a value of around USD 18.59 trillion by 2028.
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Increasing Government Investments to Drive the Overall Market Growth
The global market for construction is driven by the rising government spending on planned infrastructure projects. Countries such as India, the United States, and China are expected to account for a 50% share of the projected construction spending. The successful implementation and potential benefits of the construction outsourcing model on a large-scale in the United States is an emerging trend in the region. The global construction sector is aided by the reduction in time enabled by the usage of technologies such as BIM (3D & 4D), laser scanning, 3D printing, and smart building systems.
Europe was the largest construction market by value in 2020 after the Asia Pacific region. In Europe, countries such as the United Kingdom, Germany, France, and Italy are driving the market growth due to the growing economy. The rising need for the modernisation of ageing infrastructure and the growing housing demand in the United Kingdom are strengthening the market growth. Currently, the United Kingdom exports most of its total building materials to European countries. It also imports a significant percentage of the complete construction building materials from other European countries.
Market Segmentation
Construction refers to the act of creating commercial, institutional, or residential infrastructures like bridges, buildings, roads, and other structures. The different materials used in modern-day construction include clay, stone, timber, brick, concrete, metals, and plastics, among others.
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The market for construction, based on end use, can be divided into:
- Commercial
- Residential
- Industrial
- Education and Research
- Medical and Healthcare
- Others
The report also covers the regional markets for construction like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rapid Urbanisation and Increasing Investments in Sustainable Infrastructure Development to Aid the Market Growth of Construction
The global construction market is driven by the growing population, increasing urbanisation, and the rise in domestic manufacturing. The residential segment is exhibiting a strong growth, primarily in the single-family construction segment. The non-residential buildings sector has also shown a growth in the historical period, thus, further enhancing the development of the global market for construction. The increasing modernisation of transportation infrastructure is also aiding the market growth.
An increase in the infrastructure spending by governments across the globe is invigorating the market growth for construction. For instance, in November 2020, the United Kingdom government decided to invest £10 billion National Home Building Fund to build more affordable, sustainable, and beautiful homes across England and level up communities. Increasing private sector investments in construction are further aiding the market development. Expanding manufacturing footprint and rising foreign investments in emerging nations like India are also enhancing the construction market growth. In developed regions, such as North America, ongoing non-residential construction activities, such as education, healthcare, and industrial facilities, are expected to be the key drivers for the market in the coming years. Different technologies such as DataCAD, CADKEY, ArchiCAD, ConSteel, REVIT, NavisWorks, StruCad and Nemetschek, Corel Draw, and Bentley Systems, among others, are being used to save time and cost during the entire process of construction, thus, further pushing the growth of the market.
The initiatives towards the circular economy are leading to the efficient use of resources and the reduction of construction and demolition waste, thereby reducing costs and negative environmental impacts. The governments are increasingly focusing on the construction of net-zero buildings. For instance, the Climate and Resilience Law by the French government for 2021-2026 intends to accelerate the green transition, which includes a revision of thermal regulation for new buildings. The integration of digital technologies like the artificial intelligence (AI), advanced analytics (AA), and machine learning (ML) by stakeholders like contractors, builders, and others, for better business outcomes and to overcome challenges like labour shortages are expected to aid the market for construction over the forecast period.
Key Players in the Global Market for Construction
The report gives a detailed analysis of the following key players in the global construction market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ACS, Construction Activities and Services, SA
- HOCHTIEF Aktiengesellschaft
- VINCI
- China Communications Construction Company Limited
- Bouygues SA
- STRABAG International GmbH
- Power Construction Corporation of China
- China State Construction Engrg. Corp. Ltd
- Skanska AB
- Ferrovial S.A.
- Fluor Corporation
- PCL Constructors Inc.
- Eiffage S.A.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by End-Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Construction Market Analysis
8.1 Key Industry Highlights
8.2 Global Construction Historical Market (2018-2022)
8.3 Global Construction Market Forecast (2023-2028)
8.4 Global Construction Market by End-Use
8.4.1 Commercial
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Residential
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Industrial
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Education and Research
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Medical and Healthcare
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Construction Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Construction Market Analysis
9.1 Market by End-Use
9.2 Market by Country
9.2.1 United States of America
9.2.1.1 Market Share
9.2.1.2 Historical Trend (2018-2022)
9.2.1.3 Forecast Trend (2023-2028)
9.2.2 Canada
9.2.2.1 Market Share
9.2.2.2 Historical Trend (2018-2022)
9.2.2.3 Forecast Trend (2023-2028)
10 Europe Construction Market Analysis
10.1 Market by End-Use
10.2 Market by Country
10.2.1 United Kingdom
10.2.1.1 Market Share
10.2.1.2 Historical Trend (2018-2022)
10.2.1.3 Forecast Trend (2023-2028)
10.2.2 Germany
10.2.2.1 Market Share
10.2.2.2 Historical Trend (2018-2022)
10.2.2.3 Forecast Trend (2023-2028)
10.2.3 France
10.2.3.1 Market Share
10.2.3.2 Historical Trend (2018-2022)
10.2.3.3 Forecast Trend (2023-2028)
10.2.4 Italy
10.2.4.1 Market Share
10.2.4.2 Historical Trend (2018-2022)
10.2.4.3 Forecast Trend (2023-2028)
10.2.5 Others
11 Asia Pacific Construction Market Analysis
11.1 Market by End-Use
11.2 Market by Country
11.2.1 China
11.2.1.1 Market Share
11.2.1.2 Historical Trend (2018-2022)
11.2.1.3 Forecast Trend (2023-2028)
11.2.2 Japan
11.2.2.1 Market Share
11.2.2.2 Historical Trend (2018-2022)
11.2.2.3 Forecast Trend (2023-2028)
11.2.3 India
11.2.3.1 Market Share
11.2.3.2 Historical Trend (2018-2022)
11.2.3.3 Forecast Trend (2023-2028)
11.2.4 ASEAN
11.2.4.1 Market Share
11.2.4.2 Historical Trend (2018-2022)
11.2.4.3 Forecast Trend (2023-2028)
11.2.5 South Korea
11.2.5.1 Market Share
11.2.5.2 Historical Trend (2018-2022)
11.2.5.3 Forecast Trend (2023-2028)
11.2.6 Australia
11.2.6.1 Market Share
11.2.6.2 Historical Trend (2018-2022)
11.2.6.3 Forecast Trend (2023-2028)
11.2.7 Others
12 Latin America Construction Market Analysis
12.1 Market by End-Use
12.2 Market by Country
12.2.1 Brazil
12.2.1.1 Market Share
12.2.1.2 Historical Trend (2018-2022)
12.2.1.3 Forecast Trend (2023-2028)
12.2.2 Argentina
12.2.2.1 Market Share
12.2.2.2 Historical Trend (2018-2022)
12.2.2.3 Forecast Trend (2023-2028)
12.2.3 Mexico
12.2.3.1 Market Share
12.2.3.2 Historical Trend (2018-2022)
12.2.3.3 Forecast Trend (2023-2028)
12.2.4 Others
13 Middle East and Africa Construction Market Analysis
13.1 Market by End-Use
13.2 Market by Country
13.2.1 Saudi Arabia
13.2.1.1 Market Share
13.2.1.2 Historical Trend (2018-2022)
13.2.1.3 Forecast Trend (2023-2028)
13.2.2 United Arab Emirates
13.2.2.1 Market Share
13.2.2.2 Historical Trend (2018-2022)
13.2.2.3 Forecast Trend (2023-2028)
13.2.3 Nigeria
13.2.3.1 Market Share
13.2.3.2 Historical Trend (2018-2022)
13.2.3.3 Forecast Trend (2023-2028)
13.2.4 South Africa
13.2.4.1 Market Share
13.2.4.2 Historical Trend (2018-2022)
13.2.4.3 Forecast Trend (2023-2028)
13.2.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ACS, Construction Activities and Services, SA
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 HOCHTIEF Aktiengesellschaft
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 VINCI
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 China Communications Construction Company Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Bouygues SA
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 STRABAG International GmbH
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Power Construction Corporation of China
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 China State Construction Engrg. Corp. Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Skanska AB
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Ferrovial S.A.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Fluor Corporation
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 PCL Constructors Inc.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Eiffage S.A.
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Construction Market: Key Industry Highlights, 2018 and 2028
2. Global Construction Historical Market: Breakup by End-Use (USD Million), 2018-2022
3. Global Construction Market Forecast: Breakup by End-Use (USD Million), 2023-2028
4. Global Construction Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Construction Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Construction Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Construction Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Construction Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Construction Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Construction Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Construction Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Construction Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Construction Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Construction Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Construction Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Construction Market Structure
Key Questions Answered in the Report
In 2022, the global construction market attained a value of approximately USD 12.74 trillion.
The market is projected to grow at a CAGR of 6.5% between 2023 and 2028.
The market for construction is expected to attain a value of around USD 18.59 trillion by 2028.
Major drivers include the growing global population, rapid urbanisation, rising disposable incomes, increasing modernisation of transportation infrastructure, increasing private sector investments, increased investment in construction activities, and growing housing demand.
Growing expenditure on infrastructure projects by the government and the rise in domestic manufacturing are the key factors leading the market’s growth.
The major regions in the market are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific with Latin America, and Asia Pacific accounting for the largest share in the market.
The major end-uses of construction in the market are commercial, residential, industrial, education and research, and medical and healthcare, among others.
The major players in the market are ACS, Construction Activities and Services, SA, HOCHTIEF Aktiengesellschaft, VINCI, China Communications Construction Company Limited, Bouygues SA, STRABAG International GmbH, Power Construction Corporation of China, China State Construction Engrg. Corp. Ltd, Skanska AB, Ferrovial S.A., Fluor Corporation, PCL Constructors Inc., and Eiffage S.A., among others.
Analyst Review
The global construction market attained a value of USD 12.74 trillion in 2022, driven by growing expenditure on infrastructure projects by the government. Aided by the rapid urbanisation and increasing modernisation of transportation infrastructure, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.5% to attain approximately USD 18.59 trillion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on end use, the global construction market can be segmented into commercial, residential, industrial, education and research, and medical and healthcare, among others. The major regional markets for the global construction are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific, with Latin America, and Asia Pacific accounting for the largest share of the market. The key players in the above market include ACS, Construction Activities and Services, SA, HOCHTIEF Aktiengesellschaft, VINCI, China Communications Construction Company Limited, Bouygues SA, STRABAG International GmbH, Power Construction Corporation of China, China State Construction Engrg. Corp. Ltd, Skanska AB, Ferrovial S.A., Fluor Corporation, PCL Constructors Inc., and Eiffage S.A., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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