Press release
Riding the Wave of Infrastructure Development: Global Construction Market Projected to Reach $17045.95 billion in 2025 with a Healthy CAGR of 5.5%
Construction Market Size
What Is The Projected Market Size Of The Global Construction Market And Its Growth Rate?
The global construction market has been witnessing a robust growth in recent years.
• Market size in 2024: $16152.39 billion
• Projected market size in 2025: $17045.95 billion at a CAGR of 5.5%
• Forecasted growth to 2029: $21260.28 billion at a CAGR of 5.7%
The steady growth of the market attributes to factors such as increasing infrastructure development, the rise in the elderly population, and the spike in renovation activities. Rising urbanization, increasing population growth, increasing government support, and the rise in smart cities are predicted to boost market growth in the forecast period.
What Is Driving The Growth In The Construction Market?
The surge in construction activities worldwide, particularly in emerging markets like China, Brazil, India, Saudi Arabia, and Indonesia, is playing a pivotal role in the growth of the global construction market. This increase in construction activities continues to stimulate the demand for construction services and materials, thereby strengthening the market. For instance, as per the Office for National Statistics, the annual construction output in the UK saw a whopping 5.6% increase in 2022 compared with 2021, following a record growth of 12.8% in 2021, contributing to the growth of the construction market.
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Who Are the Key Players Driving Construction Market Growth?
Several prominent companies are contributing to the construction market growth, including:
•China State Construction Engineering Co., Ltd
•China Railway Group Ltd
•China Railway Construction Corporation Limited
•China Communications Construction Group Ltd
•Vinci S.A.
•Grupo ACS
•Lennar Corporation
•D.R. Horton, Inc.
•Bouygues S.A.
•Power Construction Corp. Of China
•CIMIC Group
•Shimizu Corporation
•Lendlease Group
•CapitaLand Limited
•L&T Engineering & Construction Division
•Tata Projects Ltd
•Hindustan Construction Company
•Et al.
What Are The Key Trends In The Construction Market?
• Development of automated construction equipment
• Introduction of construction equipment vehicles and high-performance equipment
• Integration of digital platforms and innovative solutions
• Introduction of Artificial Intelligence (AI) and Machine Learning
• Strategic collaborations, partnerships, and the launch of innovation networks
• Technological innovations and new lot development in suburban areas
What Are The Segments Of The Global Construction Market?
1) By Type Of Construction: Buildings Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, Land Planning And Development
2) By Type Of Contractor: Large Contractor, Small Contractor
3) By End-Use Sector: Public, Private
Which Region Leads The Construction Market?
Asia-Pacific emerged as the largest region in the construction market in 2024, closely followed by North America. The regions covered in the construction market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Construction Market Global Market Report?
• Market Size Analysis: Analyzing the Construction Market size by crucial regions, countries, product types, and applications.
• Market Segmentation Analysis: Identifying various subsegments within the Construction Market for better categorization.
• Key Player Focus: Focusing on key players to determine their market value, share, and competitive landscape.
• Growth Trends Analysis: Examining individual growth trends and emerging opportunities in the Market.
• Market Contribution: Assessing the contributions of different segments to the total Construction Market growth.
• Growth Drivers: Highlighting key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Investigating challenges and risks affecting the Construction Market.
• Competitive Developments: Analyzing competitive developments such as expansions, agreements, and new product launches in the market.
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