The Construction Global Market Report 2023 by The Business Research Company, provides construction market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
According to The Business Research Company’s Construction Global Market Report 2023, the global construction market grew from 503.87 billion in 2022 to 461.84 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The construction market is expected to grow to 519.26 billion in 2027 at a CAGR of 6.0%.
The increasing construction activities in emerging markets are expected to propel the growth of the construction market over the coming years.
The construction market is segmented: 1) By Type: Buildings Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, Land Planning And Development 2) By End User: Private, Public 3) By Type of Contractor: Large Contractors, Small Contractors
Subsegments Covered: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Highway, Street, And Bridge Construction, Other Heavy And Civil Engineering Construction, Foundation, Structure, And Building Exterior Contractors, Building Equipment Contractors, Building Finishing Contractors, Other Specialty Trade Contractors, Residential Land Planning And Development, Commercial And Institutional Land Planning And Development, Industrial Land Planning And Development
Building construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to World Green Building Trends Survey, about 60% of construction firms across the globe were involved in green construction projects . Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled material are being widely used in the UK. Other green construction techniques such as cross-ventilation for more natural environment, green construction software such as Construction Suite to ensure green compliance, and Green Globes management tool are also being used in the construction industry. For instance, some, Major companies using green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps and Holder Construction.
Top 5 Major Key Players Are: China State Construction Engineering Corporation Ltd China Railway Group Ltd China Railway Construction Corporation Limited China Communications Construction Co Ltd China Evergrande Group.
Table Of Contents 1. Construction Market Executive Summary 2. Table of Contents 3. List of Figures 4. List of Tables 5. Report Structure ...... 24. Global Construction Market Competitive Landscape 25. Key Mergers And Acquisitions In The Construction Market 26. Global Construction Market Opportunities And Strategies 27. Construction Market, Conclusions And Recommendations 28. Appendix
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