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.

 

Construction Market

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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.

 

Construction Market By Segments

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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.

 

Construction Market By Region

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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:

  • End-Use
  • Region
Breakup by End-Use
  • Commercial
  • Residential
  • Industrial
  • Education and Research
  • Medical and Healthcare
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*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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