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Opportunities For The Global Construction Industry To Reach $10.5 Trillion By 2023
According to a new market report published by Lucintel, the future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure. The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to increasing urbanization and growing population.
In this market, the main segments by type are residential, non-residential, and infrastructure. On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
Within the global construction industry, the residential segment is expected to remain the largest segment. Financing for residential construction projects has become available with improvements in market fundamentals, like lower interest rates.
APAC is expected to remain the largest market during the forecast period mainly due to increasing urbanization, higher expenditure on infrastructural development, and affordable housing projects.
Emerging trends which have a direct impact on the dynamics of the industry include increasing demand for green construction to reduce carbon footprint, bridge lock-up device systems to enhance the life of structures, building information systems for efficient building management, and the use of fiber-reinforced polymer composites for the rehabilitation of aging structures. China State Construction Engineering Corporation, China Railway Group Limited, China Railway Construction Corporation, Vinci SA, and Grupo ACS are among the major contractors of construction industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global construction industry by type and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Construction Industry 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global construction industry by type and region, as follows:
By Type [Value ($ Billion) from 2012 to 2023]:
− Transport Infrastructure
− Roads and Bridges
− Power and Energy
− Water and Wastewater
By Region [Value ($ Billion) from 2012 to 2023]:
• North America
− United States
− United Kingdom
− United Arab Emirates
This 168-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for global construction industry by type (residential, non-residential, and infrastructure) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which product segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activities have occurred in the last 5 years?
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