Global Construction Industry Market is valued approximately USD 13574.73 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2022-2028.
The construction industry can be defined as the branch of manufacture and trade according to maintaining, repairing, and building structures this also includes drilling and solid mineral exploration. Construction is the process of building a physical property by using both tangible and intangible goods & services. Construction involves the creation of buildings, infrastructure, industrial facilities, and related activities. The increasing automation in public spaces, growing awareness regarding the availability of antibacterial construction materials, and rising investments for infrastructural development are the chief factors that are surging the market demand across the globe. In addition, population growth, rapid urbanization, coupled with increasing disposable income are the further factors that are bolstering the market demand in the near future. For instance, as per the news released by Global Construction 2030, it is estimated that the volume of construction output will increase by 85% to USD 15.5 trillion around the world. This development is primarily driven by three countries China, India, and the United States that are contributing nearly 57% share to the growth of the construction segment worldwide. Thereby, the increasing output of the construction segment is leading to the growth of the construction industry in the near future. However, volatility in raw material prices and unavailability of raw materials, and the global housing crisis impede the growth of the market over the forecast period of 2022-2028. Also, the development of the emerging economies and Increasing demand for energy-efficient buildings is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the Global Construction Industry Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the rising investments in the infrastructural development and flourishing development of the construction sector. Whereas, Europe is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as rising disposable income, as well as increasing industrialization and urbanization, would create lucrative growth prospects for the Construction Industry market across the European region.
Major market players included in this report are:
Bechtel Corporation
Balfour Beatty PLC
Grupo ACS
China State Construction Engineering Corporation Limited
Larsen & Toubro Ltd
PCL Construction Enterprises Inc.
Skanska Construction Ltd.
Vinci SA
Samsung C&T Corporation
Skanska AB
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Building Construction
Heavy and Civil Engineering Construction
Specialty Trade Contractors
Land Planning and Development
By Building:
Residential
Non-Residential
By Construction Machinery:
Earth Moving Machinery
Material Handling Machinery
Concrete & Road Construction Machinery
By End Use:
Housing
Healthcare
Industrial
Commercial
Infrastructure
Education
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019. 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Construction Industry Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
