Global Construction Market Worth $10.3 Trillion in 2020

DALLAS, TX — /PRNewswire/ — adds Global Construction Outlook 2020 market research report on worldwide construction industry and how construction will evolve in all major countries, to its library. This report will be available starting Feb 18, 2015.

Based on the CIC’s (Construction Intelligence Center) Global 50, a grouping of the 50 largest and most influential markets in the world, the global construction industry is projected to grow from US$7.4 trillion in 2010 to US$8.5 trillion in 2015 and to US$10.3 trillion in 2020, when measured at constant 2010 prices and exchange rates (real 2010 US$).The global construction industry has regained growth momentum, with the pace of expansion accelerating from an annual average of 2.7% a year in real terms in 2011-2013 to 3.1% in 2014. This research forecasts a further rise to 3.8% in 2015, and then an average annual increase of 3.9% over 2016-2020. The complete report is available here.

The construction industries in emerging markets are forecast to continue to grow at a much faster rate than the advanced economies. With reference to the CIC Global 50, emerging markets accounted for more than half of the world’s construction output for the first time ever in 2012 (at 2010 US$) and by 2020 it will have a 56% share. From 2016-2020, the construction industries in advanced economies combined are forecast to expand by 2.2% a year on average, while emerging markets will record a 5.3% annual expansion during the same period. However, the advanced economies are at least improving, with growth accelerating from just 0.6% a year on average in 2011-2015.

The construction industries in the Middle East and Africa region are predicted to be the fastest growing in 2016-2020, overtaking theAsia-Pacific region, which held the top spot in 2011-2015. This reflects the huge investment in infrastructure and buildings that is taking place in Qatar, Saudi Arabia and the United Arab Emirates (UAE), while the slowing rate of growth in China’s construction industry is a key factor driving the deceleration in Asia-Pacific. However, Asia-Pacific’s share of the global construction industry will continue to rise, reaching close to 49% in 2020, up from 40% in 2010.

The precarious state of the Eurozone, which has intensified following the election of an anti-austerity party in Greece, will continue to undermine investor confidence in the region. However, in general the worst is over for the region’s construction industry. Many of the countries that had suffered double-digit declines in construction output in the wake of the financial crisis are now turning a corner and starting to grow again. However, reflecting the extent of the decline, it will be after 2020 that the construction industry in Western Europe will return to the pre-crisis levels. The US will also fail to surpass its pre-crisis high by 2020. Global construction outlook 2020 market research report.

Construction industry data and analysis for countries like Canada, US, Austria, Belgium, Denmark, Finland, France, Germany, Greece,Ireland, Italy, The Netherlands, Portugal, Spain, Sweden, Switzerland, The UK, The Czech Republic, Hungary, Poland, Romania, Russia,Turkey, Algeria, Egypt, Morocco, Qatar, Saudi Arabia, South Africa, Tunisia, The UAE, Australia, China, Hong Kong, India, Indonesia,Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Vietnam, Argentina, Brazil, Chile, Colombia, Mexico, Peru andVenezuela are provided in this report.

A list of 11 data tables and 118 figures along with comprehensive table of contents and more on the global construction outlook 2020 report.

Within the construction industry, the green construction market is surveyed separately in a report which says that 88% of industry respondents indicated that they will adopt green construction in their projects over the next three years. The highest percentage, 60% of survey respondents highlighted ‘energy efficiency’ as the main influencing factor for the implementation of green construction. In total, 77% and 70%, of respective respondents indicated ‘building design and construction’ and ‘building operations and maintenance’, as either ‘very highly preferred’ or ‘highly preferred’ areas for green construction over 2015-2017. According to survey results, 48% of the respondents indicated a 10% increase in revenues due to the adoption of green construction projects over the next 12 months. In total, 69% of survey respondents stated that ‘higher initial cost’ were the biggest challenge faced by their organization when considering the implementation of green construction projects. Overall, 53%, of respondents each anticipate North America andWestern Europe to offer significant opportunities for green construction projects over the next three years.

Explore more reports on the construction industry and its related market segments.

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