Press release
Construction Market Indicates Notable CAGR growth by 2027| Business Strategy & Forecast
The construction market has witnessed slow growth in the past few years, due to economic slowdown. However, the construction market is expected to expand during the forecast period due to increased investments in infrastructure and rising economic activity.Get Report Details- https://www.transparencymarketresearch.com/construction-market.html
Growing environment concerns and adoption of green buildings are likely to drive the construction market. Energy regulations laid down by governing authorities globally are anticipated to boost the entry of new players in the construction market. Construction market is estimated to expand at a CAGR of 4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the construction market report to Reach a Valuation Of Us$ 13 TRN By 2027.
Modularization, standardization, and prefabrication of components are projected to have a positive impact on the construction market. Increasing project complexity, competition, and constraints in supply chain are restraining the market.
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Material is an important part of the construction industry. Innovation in material will have a considerable impact on construction cost, sustainability, and quality. The building material industry is working on innovating material combinations for multifunctional characteristics as well as optimizing existing materials.
Improvements in project monitoring techniques and real time implementation are expected to save time and resources. Moreover, improving compliance practices in construction companies, reshaping regulations, and increasing transparency across the board are urgent needs of the market.
Reducing informality and corruption,enhancing transparency in the tendering process and execution are key aspects that need to be addressed
Energy efficiency, greener solutions, and regulatory compliance are anticipated to drive the construction market during the forecast period.
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Regional Overview
Asia Pacific is likely to be the most attractive market for construction during the forecast period, due to rapid industrialization and infrastructure development. Global players are entering the Asia Pacific region to gain significant market share.
North America and Middle East & Africa are expected to be other major markets for construction. Growth in population and increase in disposable income of people are fueling the demand for residential and commercial buildings.
Infrastructure is crucial for overall growth of a nation and governments globally are heavily investing in infrastructure development, which is anticipated to drive the construction market during the forecast period.
The construction market in South America and Europe is expected to witness slow growth during the forecast period.
Key Market Segments
In terms of type, the construction market has been segmented into heavy & civil engineering (bridges, roads, railways, airports, and others (sewage, under bridges, etc.), general construction (residential, commercial, and industrial), and others (specialty trades, maintenance, etc.)
Based on region, the global construction market has been classified into North America (U.S., Canada, and Rest of North America), Europe (U.K., France, Germany, Italy, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
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Construction Market: Competition Landscape
Established manufacturers operating in the construction market are facing tough competition, owing to the presence of various players. Market players often use price/quality, projects and workforce characteristics to position their brands.
Major players operating in the global construction market include
China Communications Construction Company Ltd
Power Construction Corporation of China
Vinci SA
Actividades de Construcción y Servicios or ACS
Bouygues SA
Bechtel Corporation
Larsen & Toubro Limited
Skanska AB
Strabag SE
TechnipFMC plc.
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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