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The global construction market size reached a value of nearly USD 11.7 trillion in the year 2020. The market is further estimated to grow at a CAGR of 3.5% between 2023 and 2028.
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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.
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:
The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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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.
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:
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.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End Use, Region|
|Breakup by End Use||Commercial, Residential, Industry, Education and Research, Medical and Health, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Fluor Corporation (NYSE: FLR), Skanska AB, PCL Constructors Inc., GS E&C Corp., CIMIC Group Limited, Obayashi Corporation, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
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
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.4.4 Education and Research
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.4.5 Medical and Health
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.5 Global Construction Market by Region
8.5.1 Market Share
188.8.131.52 North America
184.108.40.206 Asia Pacific
220.127.116.11 Latin America
18.104.22.168 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
22.214.171.124 United States of America
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
126.96.36.199 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
188.8.131.52 Saudi Arabia
184.108.40.206 United Arab Emirates
220.127.116.11 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Fluor Corporation (NYSE: FLR)
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.2 Skanska AB
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.3 PCL Constructors Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.4 GS E&C Corp.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.5 CIMIC Group Limited
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.6 Obayashi Corporation
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12 Industry Events and Developments
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 Trillion), 2018-2022
3. Global Construction Market Forecast: Breakup by End Use (USD Trillion), 2023-2028
4. Global Construction Historical Market: Breakup by Region (USD Trillion), 2018-2022
5. Global Construction Market Forecast: Breakup by Region (USD Trillion), 2023-2028
6. North America Construction Historical Market: Breakup by Country (USD Trillion), 2018-2022
7. North America Construction Market Forecast: Breakup by Country (USD Trillion), 2023-2028
8. Europe Construction Historical Market: Breakup by Country (USD Trillion), 2018-2022
9. Europe Construction Market Forecast: Breakup by Country (USD Trillion), 2023-2028
10. Asia Pacific Construction Historical Market: Breakup by Country (USD Trillion), 2018-2022
11. Asia Pacific Construction Market Forecast: Breakup by Country (USD Trillion), 2023-2028
12. Latin America Construction Historical Market: Breakup by Country (USD Trillion), 2018-2022
13. Latin America Construction Market Forecast: Breakup by Country (USD Trillion), 2023-2028
14. Middle East and Africa Construction Historical Market: Breakup by Country (USD Trillion), 2018-2022
15. Middle East and Africa Construction Market Forecast: Breakup by Country (USD Trillion), 2023-2028
16. Global Construction Market Structure
In 2020, the global construction market attained a value of nearly USD 11.7 trillion.
The market is projected to grow at a CAGR of 3.5% between 2021 and 2026.
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 industry’s growth.
The major regions in the industry 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.
Commercial, residential, industry, education and research, and medical and health, among others are the end-uses of the industry.
The major players in the industry are Fluor Corporation, Skanska AB, PCL Constructors Inc., GS E&C Corp., CIMIC Group Limited, and Obayashi Corporation, among others.
The global construction market attained a value of USD 11.7 trillion in 2020, 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 2021-2026, growing at a CAGR of 3.5%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on end uses, the global construction market can be segmented into commercial, residential, industry, education and research, and medical and health, 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 Fluor Corporation, Skanska AB, PCL Constructors Inc., GS E&C Corp., CIMIC Group Limited, and Obayashi Corporation, 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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