The global construction market accounted for a value of USD XX billion in 2019. Construction market projected to register growth at a CAGR of XX% during forecast period.
COVID-19 has impacted several businesses over the globe. The demand for construction industries is declining across the world due to spread of corona virus outbreak. The supply chain of raw material is disrupted due to travel restrictions. The manufacturing facilities have to shut their production due to lockdown. The market is likely to witness growth from 2021.
For more details, visit: Global Construction Market By Construction Type (Land Planning and Development, Heavy & Civil Engineering Construction, Building Constructions, others), By End User (Public, Private), By Region–Forecast & Opportunities to 2026
The rapid urbanization and industrialization across various regions is likely to boost construction activities. The growth in urbanization leads to rise in demand for construction activities. The infrastructure is improving which is estimated to drive growth in construction market during forecast period.
On the basis of construction type, the construction market is segmented into land planning and development, specialty trade contractors, heavy & civil engineering construction, building constructions. The buildings construction market is estimated to register growth at highest CAGR during forecast period. The demand for building construction is increasing across the world due to immense growth in population. This drives growth in building construction segment during forecast period.
On the basis of end-user, the construction market is segmented into public and private end-user. The private segment is estimated to hold largest market share during forecast period. The population is increasing immensely around the globe and people are building their own houses. Offices for private organizations are constructed across the globe. This drives growth in private end-users segment during forecast period.
Asia-Pacific region is estimated to hold largest market share during forecast period. The construction activities are increasing in this region due to rapidly increasing industrialization and urbanization. The government in this region is focusing on improving and developing infrastructures. The growth in disposable income of people leads to high adoption of separate houses by people across this region. The construction activities are increasing in this region which drives growth in Asia-Pacific region during forecast period.
The key market players in construction industry are China State Construction Engineering Co., China Railway Group Ltd., China Communication Construction Group, Vinci S.A., Power Construction Corp., Grupo ACS, Bouygues S.A., Bechtel Corporation, Lennar Corporation, CIMIC Group, Shimizu Corporation, Lendlease Group, Capitaland Ltd., Hindustan Construction Company, Shanghai Construction Group, Shaanxi Construction Engineering Group, Hunan Construction Engineering Group, and DLF, Tata projects.
- What are the expected industry trends over the next three to five years?
- Which of the construction type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?