Anticipating Remarkable Growth: Construction Market Projected to Reach $25,928.27 Billion by 2032 with a 6.6% CAGR || China Railway Group Ltd, Vinci S.A., Grupo ACS

As per The Business Research Company's Construction Opportunities And Strategies Market Report 2023, the global construction market grew from $14,393.63 billion in 2022, having increased at a compound annual growth rate (CAGR) of 4.6% since 2017. The market is expected to grow from $14,393.63 billion in 2022 to $18,819.04 billion in 2027 at a rate of 5.5%. The market is then expected to grow at a CAGR of 6.6% from 2027 and reach $25,928.27 billion in 2032.

During the forecast period, rising urbanization will support the growth of the construction market. Urbanization refers to the process by which large numbers of people become permanently concentrated in relatively small areas, forming cities. Urbanization is increasing the demand for infrastructure growth and industrialization, which in turn leads to a greater demand for storage facilities for crash barrier systems. For example, according to the United Nations Department of Economic and Social Affairs data, in 2018, 55% of the world's population resided in urban regions, and this is projected to rise to 68% by 2050.

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Companies operating in the construction market are focused on developing new and innovative construction equipment to sustain their position in the market. Construction machinery like bulldozers, excavators and cranes can be monitored and controlled via automation. Material handling: Materials like concrete, bricks and stones can be handled, transported and put in their proper locations using automated processes. For example, in February 2023, Trimble, a USA-based construction company, launched advanced path tech, to automate construction equipment. This new technology was developed to aid in the automation of the path, speed and overall trajectory of heavy equipment for contractors and equipment makers

The top opportunities in the construction market by type of construction will arise in the specialty trade contractors market, which will gain $2,160.7 billion of global annual sales by 2027. The top opportunities in the buildings construction market by type will arise in the residential building construction market, which will gain $1,254.5 billion of global annual sales by 2027. The top opportunities in the heavy and civil engineering construction market by type will arise in the highway, street, and bridge construction market, which will gain $266.3 billion of global annual sales by 2027. The top opportunities in the specialty trade contractors market by type will arise in building equipment contractors market, which will gain $1,120.5 billion of global annual sales by 2027. The top opportunities in the land planning and development market by type will arise in the residential land planning and development market, which will gain $82.3 billion of global annual sales by 2027.The top opportunities in the construction market by end user sector will arise in private market, which will gain $3,264.6 billion of global annual sales by 2027. The top opportunities in the construction market by type of contractors will arise in large contractors market, which will gain $3,192.3 billion of global annual sales by 2027. The construction market size will gain the most in China at $722.4 billion.

Construction Market Segmentation:
The construction market is segmented by type of construction, by end-user sector and by type of contractor.

By Type Of Construction -
a) Buildings Construction
b) Heavy And Civil Engineering Construction
c) Specialty Trade Contractors
d) Land Planning And Development

By End-User Sector -
a) Public
b) Private

By Type Of Contractor -
a) Large Contractor
b) Small Contractor

Major players in the construction market include China State Construction Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., Vinci S.A..

The regions covered in the global construction market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Construction Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Construction Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Construction Market, Conclusions And Recommendations
23. Appendix

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