Press Releases from ConsTrack360 (138 total)
Building Materials Price Rise Affecting Construction Sector Growth In Latin Amer …
In Latin America, construction material costs have surged significantly over the last two years. The ongoing war in Ukraine, coupled with the rising inflation, has added even more pressure to the sector.
Mexico bearing the brunt of building materials price rise
Looking at specific materials, the Mexican Chamber of the Construction Industry (CMIC) indicated that cement, rebar, and steel experienced the greatest increases since December 2021. the prices of these building materials…
Eco-Friendly Constructions Boosted The Demand For Dry Concrete Materials Globall …
The recent uses of green technology in the construction sector have provided the impetus to the growth of the dry concrete market worldwide. Dry concrete helps to provide suitable conditions to allow the concrete to attain moisture properly. Its increasing strength, reducing shrinkage, fast curing rates, lowering the water permeability rate, reduced construction costs, and reduction in the hydrostatic pressures have helped the dry concrete market to see strong adoption…
New Innovative 3D Printing Methods Are Being Developed Facilitating Reduction of …
In recent times 3D printing market has gained traction around the globe due to the rising demand for Building Information Modeling (BIM). 3D printing is said to be a computer-controlled process where the layering of materials is done to form three-dimensional shapes. Thus, this process is helpful for entire printing buildings or for creating building components. Consequently, many construction companies have started using 3D printed materials in their projects to…
Increasing Climate And Decarbonization Challenges Surged The Demand For Eco-Cons …
With a period of adapting growth projections and shifting standards, the Indian construction industry is anticipated to go through a period of revival and economic expansion in 2022. Additionally, increased construction costs and skilled labor demands continue to pressure the construction industry to develop innovative, challenging, and distinct ideas.
Consequently, innovative low-cost construction materials are one such method that is adopted by the construction companies to meet the shifting needs…
Construction Industry Is Adopting Timber As A New Green Building Material - Cons …
World Green Building Council states that globally buildings are responsible for around 39% of the energy-related carbon dioxide emissions. In largely populated states, this number increases to around 60% due to the use of carbon-intensive materials such as concrete, which uses up huge amounts of the Earth's resources and puts more emissions into the atmosphere. Notably, to counter this challenge the construction industry is utilizing wood to construct buildings paving…
Construction Outlook In Saudi Arabia - ConsTrack360
According to ConsTrack360, the construction industry in the Kingdom of Saudi Arabia is expected to grow 18.9% in 2021. The industry is expected to continue its growth 8.9% in 2022. Increased spending and focus by the government on infrastructure and commercial projects are some key factors likely to support upward trajectory of the industry from the short to mid-term perspective.
The effort of the government to diversify the economy away from…
US Commercial Construction Market Outlook - ConsTrack360
The commercial construction industry has suffered project and revenue losses in 2020 due to COVID-19 related shutdowns. Office construction recorded the highest decline in December 2020, followed by industrial and institutional building construction sectors. Also, low availability of building products and materials was a larger concern in H2 2020 as the pandemic continued. Although, construction industry outlook remains positive in 2021, entertainment, travel, and hospitality industries continue to struggle in…
Qatar's Commercial Construction Activity Expected To Record Steady Growth - Cons …
Overall construction industry in Qatar has flourished over the years to become a growth engine driven by public investments related to Qatar National Vision 2030 and the 2022 FIFA World Cup. COVID-19 has crippled many industries including construction industry in Qatar delaying projects due to movement restriction and supply chain disruptions. The private sector construction projects have been critically affected due to COVID-19. However, with improving economic situation, the construction…
UAE Residential Market Outlook - ConsTrack360
UAE's residential construction market has been witnessing a slowdown over the past few years due to huge supply glut and intense competition. The demand-supply mismatch in the sector was further accelerated due to COVID-19 pandemic. Also, new housing construction by private developers in the UAE dropped during Q4'2020 due to financial constraints. Construction costs have escalated as building materials rose by about 25-30%.
Other factors that have impacted the housing market…
European Construction Market Expected To Post Steady Growth - ConsTrack360
Construction activity is steadily rising across all of the EU countries, supported by low interest rates and stable economic growth. Economic stability has in turn resulted in decrease in unemployment, thus boosting consumer and business confidence that the future is better. Steady growth in construction industry in Europe has recorded increased inflow of public and private investment. The European construction market is likely to also witness a shift in…
Corruption Scandal Poses Risk To Construction Industry's Growth Outlook In Argen …
The third largest economy in Latin America continues to face adversity with the corruption scandal that has come to light in August 2018. The investment in public works from private sector has been impacted. According to IMF, the economy is expected to contract 1.6 percent in 2018.
Constrack360 expects, the construction industry in value terms increased at a CAGR of 3.5% during 2014-2018. Over the forecast period of 2019 to 2023,…
Saudi Arabia Residential Construction Market Outlook - ConsTrack360
Saudi Arabia is in the midst of a construction boom that aims to transform the wider economy. The country has been investing substantially in large-scale infrastructure projects, led by Vision 2030. However, the residential construction segment also underwent significant growth expansion following several years of muted growth in 2019. One of the key growth drivers for the residential construction industry in Saudi Arabia has been the recent uptick in activity…
Despite Economic Turmoil Australian Construction Sector Is Expected To Record Mo …
ConsTrack360 expects the residential building construction sector to improve, driven by improved access to credit. In addition to this, the Reserve Bank of Australia has cut interest rates, making credit cheaper in the country. The First Home Loan Deposit Scheme along with interest rate cut is expected to drive growth. Consequently, ConsTrack360 expects a positive outlook for the residential building construction sector. However, the present economic turmoil is expected to…
Commercial Construction Outlook In UAE - ConsTrack360
The pandemic has adversely impacted the construction industry as a whole in the UAE. The commercial construction industry is expected to see low growth in the short term and is expected to improve in the medium and long term. The tourism industry was highly affected due to COVID-19 pandemic due to the travel restrictions. As the restrictions ease down in early 2021, the tourism industry is expected to recover in…
Qatar Infrastructure Construction Market Outlook - ConsTrack360
Qatar was experiencing a boom in the infrastructure construction sector before the pandemic struck the country. Qatar's construction activities suffered delays due to COVID related restrictions. Also, due to COVID crisis, around US$8.2 billion in unawarded contracts on CAPEX projects were requested to be deferred by the government in April 2020 . However, according to ConsTrack360's Q1 2021 Survey, the infrastructure construction industry activity in Qatar is gaining momentum. Medium…
Asia Pacific To Witness Infrastructure And Construction Boom - ConsTrack360
Asia Pacific is set to witness infrastructure and construction boom in the coming five years with healthy spread of projects shared between residential, industrial and infrastructural categories.
Government intervention in the region along with increasing urbanization, investment and government and consumer spending is pushing the economies to post strong growth. Even though infrastructure investment has been a key driver of construction industry, the growth comes with challenges.
Current Trends and Drivers:
The outlook…
Geberit's Eco-Friendly System Narrows The Gap Between Urbanization And Sustainab …
With the growing population and limited land supply in Asia, the cities are observing an increasing demand for high-density buildings. For instance, in Vietnam, under the Ho Chi Minh City Housing Development Program 2021-2030, districts have been reserved for high-rise apartment buildings. Moreover, according to the Vietnam government, Ho Chi Minh City itself will be requiring an additional of 47 million square meters of housing to meet the demand of…
Indian Infrastructure Sector To Witness Increased Use Of Green Material And Pref …
The Indian Government is mulling to adopt new technologies in building infrastructure projects in the areas of roads, railway, digital ports, aviation and coal.
The infrastructure construction was estimated to be INR 6,265.1 billion in 2016, posting a CAGR of 11.5% during review period of 2012 to 2016. Over the forecast period, the industry is expected to record a CAGR of 12.5%, increasing from INR 7,059.7 billion in 2017 to reach…
Public Spending And Private Investments Drive Kenyan Construction Industry Growt …
According to ConsTrack360, the Kenyan construction industry registered a growth of 11.7% in 2016, primarily due to increase in public spending on infrastructure and private investments in real estate sector.
Building construction sector has been recording robust growth across residential, commercial, industrial and institutional segments. This trend is expected to continue in subsequent years.
In line with trend observed in recent quarters, cement export is expected to decrease in 2017, as it…
Heathrow's New Logistics Hubs To Drive Off-Site Construction In The United Kingd …
British airport Heathrow is planning to build four new off-site logistics hubs to pre-assemble components, as part of its GBP16 billion expansion project to drive growth in off-site construction in the UK.
The latest move is aimed to make the expansion project affordable and environmentally sustainable as off-site construction in the country had a limited role in supporting major infrastructure projects. The new logistics hubs are also expected to create several…
Demand For Luxury Homes In Asia Pacific Is Expected To Attract Players From Othe …
Demand for luxury homes in Asia-Pacific is increasing primarily due to rising number of wealthy individuals, particularly Asians with net assets of US$25 million, and growth in middle income population. According to ConsTrack360, luxury homes are expected to record a CAGR of 9.3% over the next five years.
Most of the demand is driven by major cities in the region including Manila, Mumbai, Jakarta, Tokyo, Singapore, Sydney and Chinese cities Beijing,…
Affordable Housing To Boost Realty During 2018-2022 In India - Constrack360
The Union Budget 2018 has given affordable housing segment a push under expansion of Pradhan Mantri Awas Yojna (PMAY) to drive realty sector. The move comes with government's vision of 'Housing by 2022' and aims to fulfil prospective buyer's dream of owning a house.
The set up of Affordable Housing Fund (AHF) in National Housing Bank will work to provide credit ease to homebuyers, thereby giving a boost to demand for…
Global Construction Companies Are Increasing Marketing Budget To Intensify Focus …
The African construction industry is one of the fastest growing regions globally. The growth in the region is expected to be broad-based with increased construction activity across residential, commercial, institutional and infrastructure sectors. Most countries in the continent are progressing with various government initiatives as well as regional investments that are backed by foreign investment. In line with other emerging markets, the growth is driven by ongoing infrastructure projects that…
Asia Pacific To Witness Infrastructure And Construction Boom - ConsTrack360
Asia Pacific is set to witness infrastructure and construction boom in the coming five years with healthy spread of projects shared between residential, industrial and infrastructural categories.
Government intervention in the region along with increasing urbanization, investment and government and consumer spending is pushing the economies to post strong growth. Even though infrastructure investment has been a key driver of construction industry, the growth comes with challenges.
Current Trends and Drivers:
The outlook…
Construction Industry Expected To Post Strong Growth Across Key Latin American M …
Economic growth across key Latin American economies is expected to improve in 2019 and over the forecast period, resulting in positive outlook across building and infrastructure construction sectors. GDP growth is expected to average around 2.7% in the region over the next four quarters, significantly higher than previous four quarters. This is expected to result in stable commodity prices, improved business confidence, and increased consumption.
Socio-economic factors as well as political…
Mexico's Construction Industry Has Been Impacted By Reduced Public Spending But …
The construction activity shows slower activity than the economy largely due to fall in public spend by nearly 11% since Q3 2017 to Q2 2018. Public investment is expected to rebound as the new government, plans to bridge the infrastructure gap of over US$ 600 billion is expected to improve the condition of the industry.
Although the outgoing government completed 85% of its National Infrastructure Plan, low spending continues to remain…
US Residential Construction Industry Outlook - ConsTrack360
The US residential market is witnessing growth despite the COVID outbreak, as demand for bigger homes, and second homes continues to increase. Also, millennials are now focusing on homeownership and moving out of rental homes which are pushing the US residential market growth. Moreover, low mortgage rates have motivated individuals to buy homes. Also, home prices have increased across the US during Q3'2020 as Americans are view their homes as…
Growing Demand For Residential Facilities Is Driving The Overall Growth Of The G …
The majority of Germany's economic outlook is driven by heavy demand in the construction sector and high employment. Moreover, government initiatives to revamp the construction sector by allowing more construction permits and fiscal incentives to citizens are helping the construction sector.
Construction of residential facilities has always been the driving factor for the growth of the construction sector in the country. The residential sector in the country is still in much…
Green Building Construction In The Middle East Region Expected To Post Strong Gr …
The Middle East region faces unique environmental and socio-economic challenges including hot weather conditions, water shortage, environmental degradation and abundance of fossil fuels. Buildings in Middle East region consume more energy than any other region in the world mainly due to its hot climatic conditions, extensive use of glass exteriors and heavy dependence on AC. Owing to this, in the recent years, the building industry in the region has witnessed…
Rising Need For Hospitals And Affordable Housing Is Expected To Boost The Argent …
The Argentine construction industry is going through a period of uncertainty. Apart from the socio-economic uncertainties, the ongoing coronavirus disease (COVID-19) pandemic is also impacting the growth of the industry. It is expected that the government's recent housing plans are likely to support the industry in the short to medium term.
The Argentine construction industry and Covid-19
The construction industry is struggling to manage its growth momentum due to the ongoing coronavirus…
Government Initiatives Are Boosting The Singaporean Construction Sector - ConsTr …
According to ConsTrack360, the construction industry in Singapore is expected to register a V-shaped recovery during 2021. The ongoing coronavirus pandemic has affected the construction industry growth in Singapore. However, government intervention to push the industry towards digitalization across the value chain is likely to support the growth in the next 4-8 quarters. The expected growth is also likely to be supported by the reviving economic conditions and improvement in…
Construction Industry Sees A Growing Need For Construction Technology Solutions …
The global construction industry showed some recovery in 2021. With vaccination taking place, governments in many countries started withdrawing restrictions. Consequently, it helped increase construction activities. Similarly, there has been an ever-increasing demand for data-driven technology in the construction industry. Consequently, construction technology providers are attracting an increasing number of partnerships in the industry. For instance,
Versatile, a United States-based construction technology provider which uses artificial intelligence (AI) and the internet…
Peace Treaties Like Abraham Accords Expected To Boost Sentiment In The Middle Ea …
The UAE and Israel signed the historic new Abraham Accords Peace Agreement on September 15, 2020. This peace agreement comes after more than 25 years. The last time Israel signed a peace deal to normalize relations with a major Arab country was with Jordan in 1994 and Egypt in 1979 before that. Following the footsteps of the UAE, Sudan also announced the Abraham Accords Peace Agreement with Israel in October…
Green Building Construction in Australia - A ConsTrack360 Outlook
The green building market in Australia is well-established and growing, with over 12 million square meters of Green Star certified or registered green building space. The maturity of the Australian green building market is underlined by the strength of the Green Building Council of Australia (GBCA) and the extensive adoption of the globally recognized Green Star rating system. The Green Star rating system has transformed the way Australia plans and…
Construction In Indonesia - An Outlook From ConsTrack360
Large scale infrastructure development has been one of the topmost priorities of the current government in Indonesia. However, the wide-spread effect of the coronavirus outbreak has weighed heavily on President Joko Widodo's plans. Due to the pandemic, construction of several infrastructure projects were disrupted in the country as the government directed its budget to fund towards the unplanned COVID relief measures.
According to ConsTrack360's Q4 2020 Global Construction Survey, construction industry…
Vietnam Green Building Market Outlook - ConsTrack360
Green buildings are gaining momentum in Vietnam, offering significant opportunities for investors. Vietnam has collaborated with the United Nations Development Programme (UNDP) and World Bank to build green cities, and such partnership with foreign entities is likely to continue. Rapid urban population growth in the country could result in energy shortage, decline in natural resources, environmental and social impact, and rise in pollution, creating demand for green buildings.
According to ConsTrack360's…
China Green Building Market Outlook - ConsTrack360
The real estate industry in China is one of the key industries driving economic growth. It promotes industrialization and urbanization, improving the living standards of people. However, the growing real estate industry has also resulted in high energy consumption and pollution. Since 2008, the carbon dioxide emission in the country has been the highest globally. Notably, the greenhouse gas emissions from the real estate sector accounted for a relatively high…
The US Green Building Market Outlook - ConsTrack360
The ongoing COVID-19 crisis largely impacted the growth of the U.S. construction industry. However, the country continued to build sustainable and healthy buildings despite the situation, certifying over 400 million square feet of space to Leadership in Energy and Environmental Design (LEED) standards. The construction of LEED-certified homes increased since 2017 and reached an all-time high in 2019 globally, with around 400,000 units in the U.S. LEED-certified homes use 20…
Saudi Arabia Green Building Construction Outlook - ConsTrack360
The per capita energy consumption in Saudi Arabia is thrice the global average. Owing to this, investment in green building constructions in the country is growing. Out of 1,300 ongoing green projects in the Middle East, more than 70 are based in Saudi Arabia.
The green building market has grown steadily over the past few years. It is further set to grow driven by Vision 2030 objectives, mega projects, supporting…
Canadian Green Construction Startup Becomes The Fastest Company To Reach Unicorn …
In September 2021, Nexii, a Canadian construction technology startup, announced that the firm had attained unicorn status after raising US$45 million. The company claims that is it's the fastest ever to hit US$1 billion in valuation (in fewer than 31 months) in Canada. As of September 2021, the construction technology startup has raised total equity of more than US$109 million (C$125 million) with a post-money valuation on its last raise…
Conventional Construction Companies In India Are Shifting Towards Green Construc …
In recent years, construction companies have been more focused on building sustainability. Over the last few quarters, there has been a steep increase in attention and concern towards the environment. Consequently, conventional construction firms are increasingly shifting towards green construction activities around the world. The trend is also observed in India, where conventional construction companies invest in green construction to meet the rising demand.
ACC and Ambuja Cement are…
Green Building Construction Market In The UAE - An Outlook
The building and the construction sectors globally account for nearly 40% of energy-related emissions and more so in the UAE. Owing to this, the UAE is focusing on retrofitting and net-zero carbon buildings to lower emissions. The country has committed to Paris Agreement to reduce GHG emissions. Additionally, UAE Green Agenda 2015-2030, UAE Vision 2021, and UAE Energy Strategy 2050 initiatives are also expected to help reduce carbon emissions in…
Green Construction Companies Are Applying Innovative Strategies To Expand Market …
According to ConsTrack360's Q2 global survey, the green construction industry in North America recorded significant growth in the last two quarters. The rising demand for eco-friendly infrastructure in this region is primarily supporting the green construction market growth. Key players are entering into strategic alliances to introduce sustainable products and materials for the green construction market. North America is witnessing an increased number of new product launches, due to the…
E-Commerce Expansion Is Fueling The Demand For Warehouses And Distribution Cente …
The increased demand witnessed by the e-commerce industry in 2021 had spilled over to the other industries as well. Construction is no different. In 2021, there had been a rising demand for new facilities, warehouses, and distribution centers. According to ConsTrack360's Q4 Global Construction Market Survey, the trend is to be continued in 2022, as there has been a strong demand for distribution and warehouse projects in the United States.…
Rising Construction Activities In Q4 2021 Expected To Support China's Overall Co …
Since October 2021, a number of infrastructure projects have been initiated in China. The announcement of major infrastructure projects comes from quickened fiscal stimulus and accelerated issuance of special bonds in the country. The construction boom in China is expected to offer support for fixed asset investment, which has been flat over the last few quarters. This growth in fixed-asset investment will offer a buffer against the rising economic challenges…
Growth In Residential Construction Is To Support The Overall Construction Market …
As the economy is recovering from the global pandemic, property prices in Dubai have started rising in the last two quarters in 2021. With the country loosening the Covid restrictions, Dubai saw a surge in demand for housing. The real estate market fell, and the prevailing interest rate was low compared to standard times, which helped buyers to grab the opportunity. Consequently, the demand for residential apartments increased significantly, which…
Saint Gobain Expands Its Business With Green, Smart Homes in India - ConsTrack36 …
In November 2021, the French construction company Saint-Gobain launched its green home solutions, My Home range, in India. The company opined investing approximately Rs 2,500 crore (~US$335 million) in India between FY2022 and FY2023 in the brownfield and greenfield expansions, mainly in green solutions and digital platforms.
The Indian subsidiary of Saint-Gobain has already opened MyHome stores in Kochi, Mumbai, and Chennai. The stores offer new-age home products such as windows,…
Global Prefabricated / Precast Construction Industry Expected To Record A CAGR O …
Prefabricated construction is steadily emerging as a dominant player in the construction market. and is expected to reach US$ 2.3 trillion by 2023, at a compound annual growth rate (CAGR) of 21.4% during the forecast period of 2019-2023.
The prefab or modular construction market aims to move from conventional construction that involves heavy materials, delays, and increasing costs to a modern approach that is cost effective, light weight, energy efficient and…
Adoption of Prefabricated Construction in Saudi Arabia Expected to Record Strong …
The prefabricated construction market in Saudi Arabia is expected to grow in the coming years due to lack of affordable houses in the county due to growth in population and inflow of expatriates. This could boost demand for cost-effective prefabricated homes. To support development of affordable houses, the Ministry of Housing intends to encourage the construction of factories producing prefabricated housing units and other modern technologies.
Moreover, as part of Vision…
Australia Construction Industry Outlook - ConsTrack360
Construction activities in Victoria lead the industry through lockdowns in Australia
In Victoria, more than AUD15 billion worth of construction has been completed from July to September 2021. The growing construction activities in Victoria have supported the industry in Australia while shrugging off the Melbourne lockdown impact.
During Q3 2021, Victoria recorded a growth of 5.8% in the construction sector as opposed to a sharp fall recorded in NSW and ACT. According…
