Construction Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The Global Construction Market size is expected to reach USD 14.6 trillion and is projected to reach a CAGR of 11.9% from 2023-2030.

The design, planning, construction, and maintenance of structures, infrastructure, and other facilities are all part of the global construction business. It covers a variety of industries, including building infrastructure and the residential, commercial, and industrial sectors.

Certainly! Architects, engineers, contractors, subcontractors, suppliers, and investors are just a few of the many diverse stakeholders who make up the complex and dynamic global construction sector. It includes a broad range of building projects, including those for private residences, businesses, and huge infrastructure like roads, airports, and power plants. Since more people are relocating to urban areas worldwide, urbanization is one of the key factors driving growth in the construction industry. New housing as well as infrastructure like roads, public transport, and utilities are becoming necessary as a result of this.

The growing emphasis on sustainability and energy efficiency is another element fueling growth in the building industry. Regulations and incentives are being implemented in many nations to promote the development of green structures and the use of renewable energy sources. New materials and technologies are being adopted as a result, including solar panels, smart home technology, and environmentally friendly building materials. 

Although the COVID-19 rebound and Russia's invasion of Ukraine slowed down the industry's economic prospects, the outlook for the global construction industry is still positive. Construction's overall market size was estimated to be $7.28 trillion in 2021, and by 2030, it is expected to grow to US$14.41 trillion. Population growth in developing nations, aging populations in established nations, increased urbanization and concentration in megacities, decarbonization across economies, and digital transformation will all be major growth drivers for the business in the upcoming years.

Delvens Industry Expert's Standpoint

The world’s-built environment is significantly shaped by the sizeable and active global construction business. The market has a wide spectrum of participants, from global companies to regional small enterprises, who all collaborate to develop the residences, workplaces, and infrastructure that support our contemporary civilization. Although the construction industry is confronted with difficulties like labor` shortages, supply chain disruptions, and environmental issues, it is also expanding rapidly due to urbanization, population growth, and rising infrastructure needs. The companies with the highest chances of success in the global construction sector are likely those who can adapt to these obstacles and concentrate on innovation and sustainability. In general, the construction sector will continue to play a significant role in driving economic growth and development in the years to come, and the leading market participants will continue to create the physical landscape of the globe via their knowledge, vision, and commitment to excellence.

Market Portfolio

Key Findings

• The construction market can be segmented based on the type of construction, such as residential, commercial, industrial, and infrastructure. The residential construction segment is expected to grow due to population growth and increasing urbanization. The commercial construction segment is also expected to grow, driven by demand for office and retail spaces. The infrastructure construction segment is expected to see strong growth, particularly in emerging markets where there is a need for new transportation networks and public utilities.

• The construction market can also be segmented based on the end-use sector, such as healthcare, education, and hospitality. The healthcare sector is expected to see strong growth due to aging populations and increasing demand for healthcare services. The education sector is also expected to grow, as governments invest in new schools and universities. The hospitality sector is expected to see growth, particularly in emerging markets where there is a growing middle class and increasing demand for tourism.
   
• The construction market can be segmented based on geography, including North America, Europe, Asia-Pacific, and Rest of the World. The Asia-Pacific region is the largest construction market, driven by rapid urbanization and infrastructure development in countries like China and India. North America and Europe are also expected to see steady growth, particularly in the residential and commercial construction segments.

Regional Analysis

Asia-Pacific to Dominate the Market

• The Asia-Pacific region is expected to be the largest region in the Construction market during the forecast period.
   
• North America and Europe are also expected to see steady growth, particularly in the residential and commercial construction segments.
   

Competitive Landscape

• Vinci SA
• Grupo ACS
• Bouygues Construction
• Bechtel Corporation
• Skanska AB
• Fluor Corporation
• Larsen & Toubro Limited (L&T)
• Samsung Engineering Co., Ltd.
• China State Construction Engineering Corporation (CSCEC)
• China Railway Group Limited (CREC)

Recent Developments

• In 2020, One of the biggest construction firms in the world, CSCEC specializes in commercial and infrastructure building. The business has been increasing its global footprint through partnerships and acquisitions in recent years. A contract for the construction of a new port and industrial park in Tanzania was signed between CSCEC and the Tanzanian government.
   
• In 2021, A Spanish construction firm with an emphasis on renewable energy and infrastructure is called Grupo ACS. The business bought a controlling share in RCR Tomlinson, an Australian engineering company that specializes in infrastructure and renewable energy projects.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
   
• Gain authentic and granular data access for Construction Market so as to understand the trends and the factors involved in changing market situations
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope