Construction Market Size, Share – Industry Growth, 2020-2023 | Key Players - China Railway Group Ltd, Vinci S.A

Construction Market By Type (Building Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, And Land Planning And Development), By End-User Sector And By Region - Global Forecast To 2023 By The Business Reach Company

The global construction market reached a value of nearly $12,744.4 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.1% since 2015. The market is expected to decline from $12,744.4 billion in 2019 to $12,633.9 billion in 2020 at a growth rate of -0.9%. The market is then expected to recover and grow at a CAGR of 7.5% from 2021 ad reach $15,482.0 billion in 2023.

The key drivers of the construction market include::

Rising Investments In Renewable Energy Infrastructure – Rapid growth in investments in renewable power generation capacities is expected to drive the construction market in the forecast period. A large number of power generation companies are investing in renewable energy sources, especially in the USA and European countries. This is expected to boost the demand for services provided by construction companies, thereby driving the market during the forecast period.

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Construction Market Segmentation:-
The Construction market is segmented by type, by end-user sector and by geography

By Construction Type- The construction market can be segmented by type of
1) Buildings Construction
2) Heavy And Civil Engineering Construction
3) Specialty Trade Contractors
4) Land Planning And Development

The buildings construction market was the largest segment of the construction market segmented by type, accounting for 51.7% of the total in 2019. Going forward, the land planning and development segment is expected to be the fastest growing segment in the construction market, at a CAGR of 8.6% during 2019-2023.

By End-User Sector - The construction market can be segmented by end-user sector into
1) Public
2) Private
The private end-user market was the largest segment of the end-user sector segmented by type, accounting for 54.4% of the total in 2019. Going forward, the public end-user segment is expected to be the fastest growing segment in the end-user sector market, at a CAGR of 5.7% during 2019-2023.

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By Geography– The construction market is segmented into

1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa

Some of the major key players involved in the construction market are:

1. China State Construction Engineering Co., Ltd.
2. China Railway Group Ltd.
3. China Railway Construction Corporation Limited
4. China Communications Construction Group Ltd
5. Vinci S.A

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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