The new report by Expert Market Research titled, ‘Global Construction Market Size, Share, Price, Trends, Report and Forecast 2020-2025’, gives an in-depth analysis of the global construction market, assessing the market based on its segments like end-uses and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 11.7 trillion.
• Forecast CAGR (2020-2025): 3.5%
• Forecast Market Size (2025): USD 14.4 trillion
The global construction market is being driven by rapid urbanisation, growing infrastructure activities, rising demand for houses, and growing megacity projects across the world. The growing population and rising living standards in the developing nations are driving the demand for improved structures. Moreover, the restoration of old buildings and reconstruction programmes are significantly aiding the industry growth. Over the forecast period, the favourable government initiatives and rapid technological advancements are expected to further propel the market growth.
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Industry Definition and Major Segments
Construction refers to the act of building an establishment or structure. It involves the creation of commercial, institutional, or residential infrastructures such as bridges, houses, roads, and others.
On the basis of end use, the industry is divided into:
The regional markets for construction include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The global construction market is expected to be driven by the implementation of favourable government initiatives. The governments across the nations are investing heavily in infrastructure development projects. For instance, the Saudi Arabia’s government has formed a strategic framework, known as Vision 2030, to reduce the region’s dependence on oil, diversify its economy, and develop public service sectors such as education, infrastructure, recreation, and tourism. This is expected to significantly boost the construction and infrastructure development in the region. Further, the usage of advanced technologies, including BIM (3D & 4D), laser scanning, 3D printing, and smart building systems, will reduce the construction time, which will also aid the industry growth in the future.
Key Market Players
The major players in the market are Skanska AB (STO: SKA-B), Fluor Corporation (NYSE: FLR), STRABAG International GmbH, Vinci (EPA: DG), PCL Constructors Inc., Consolidated Contractors Company (NSE: CCCL), GS E&C Corp. (KRX: 006360), CIMIC Group Limited (ASX: CIM), Obayashi Corporation (TYO: 1802), and McConnell Dowell Corporation Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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