Global construction market size reached USD 12,639.41 Billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period, according to latest analysis by Emergen Research. Rapid urbanization with increasing global population is expected to continue to drive construction market revenue growth to a significant extent during the forecast period. This steady revenue growth can be attributed to increasing population in Asia Pacific in countries such as India and China among others and rising need for residential and commercial infrastructure and projects. Growing demand for more environment-friendly homes with a lower carbon footprint along with open green spaces is expected to augment growth of the global construction market going forward. Rising awareness among investors regarding environmental protection is driving focus on construction materials and designs of homes that are more ecologically viable. Global construction market is growing rapidly with young working demography aspiring to own homes.
The Global Construction market drivers and restraints Market report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
However, variable raw material cost across countries makes it difficult for construction companies to use standardized products in the same budget in different countries, which is a major factor expected to hamper construction market growth to some extent during the forecast period.
Major Players/Manufacturers profiled in the report are:
China State Construction Engineering Co., Ltd., Al Habtoor Group LLC, Larsen Toubro Ltd., Bauer Group Ltd., China Communications Construction Group Ltd., Skanska AB, Vinci SA, Actividades de Construcción Y Servicios SA, Bechtel Corporation, and Samsung CT Corporation.
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Some Key Highlights from the Report
Land planning and development segment revenue is expected to expand at a significantly robust CAGR during the forecast period. Increasing demand for optimal utilization of available resources along with need to contemplate future condition of the property are expected to boost revenue growth of this segment going ahead.
Increasing demand for large commercial, residential, and infrastructure projects due to rapidly growing economies is expected to foster revenue growth of the material handling machinery segment. Growing automation of material handling machinery with an aim to control these remotely is a key factor expected to augment revenue growth of the material handling machinery segment in construction market during the forecast period.
Factors such as increasing population as well as robust presence of major players in Asia Pacific is expected to drive growth of the construction market in the region during the forecast period.
In terms of revenue share, the residential segment is expected to register significant growth over the forecast period due to increasing demand for residential projects with young working demography aspiring to purchase or rent homes on their own.
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2021-2028.
Emergen Research has segmented the construction market on the basis of type, building, construction machinery, end-use and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Building Construction
Heavy and Civil Engineering Construction
Specialty Trade Contractors
Land Planning and Development
Building Outlook (Revenue, USD Billion; 2018–2028)
Residential Building
Non-residential Building
Construction Machinery Outlook (Revenue, USD Billion; 2018–2028)
Earth Moving Machinery
Material Handling Machinery
Concrete Road Construction Machinery
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Housing
Healthcare
Industrial
Infrastructure
Commercial
Educational
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Construction market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Construction market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Construction market.
The professional intelligence study on the Construction market addresses some of the most critical questions:
What are the key trends in the Market?
What are the driving forces behind the Construction market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the Construction market?
What are the main issues facing the global Construction market?
How does the competitive landscape look?
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market.
