New York, July 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global construction market generated USD 7.28 trillion in 2021, and is expected to garner USD 14.41 trillion by 2030, witnessing a CAGR of 7.3% from 2022 to 2030. The research provides a detailed competitive scenario along with changing market trends, top segments & sub-segments, and regional landscape. In addition, it provides revenue of each segment and sub-segment over the forecast period to determine market conditions and steps to be taken to achieve sustainable growth.
Equipping the extensive analysis of the construction industry in 545 pages that also contain 678 tables and 347 figures, the report is helpful for leading players, investors, and new entrants to identify opportunities, tap on growing segments, and gain a competitive edge. The research also highlights the impact of the Covid-19 pandemic on the market size.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 7.28 Trillion |
| Market Size in 2030 | USD 14.41 Trillion |
| CAGR | 7.3% |
| No. of Pages | 545 |
| Tables | 678 |
| Figures | 347 |
| Segments covered | Type, Sector, and Geography. |
| Drivers | Rise in private sector investments |
| Increase in the economic growth in developing nations | |
| Opportunities | Deployment of advanced technology, machines, and equipment for construction activities |
| Increase in infrastructure and housing spending by governments of developing countries |
The research provides a detailed analysis of drivers, growth-limiting factors, and opportunities of the global construction market. Increase in the economic growth in developing nations, low interest rate for loans on real estate, rise in private sector investments, and technological developments drive the growth of the market. However, fluctuations in raw material prices and rise in concerns related to health and wellness of workers limit the market growth.
Commenting on the opportunities that are expected contribute toward the growth of the overall construction market size in the coming years, the Lead Analyst for the Construction & Manufacturing category at Next Move Strategy Consulting, stated, “Deployment of advanced technology, machines, and equipment speeds up the construction activities for smart cities. Moreover, increase in infrastructure and housing spending by governments of developing countries present new opportunities in the market.”
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The report provides a detailed segmentation of the global construction market based on type, sector, and geography. The report analyzes each and every segment and its sub-segment to outline a detailed scenario for market players and investors. Based on type, the report further divides the market into addition, re-development, and new constructions.
On the basis of sector, the research sub-categorizes the market into commercial, residential, industrial, infrastructure, energy, and utilities construction. The research further sub-segments each of these segments. The commercial construction segment is sub-classified into office building, hospitality and luxury building, retail building, sports facility, entertainment, restaurant, and other commercial constructions. The residential construction segment is further segmented into luxury, mid-tier, and affordable. The industrial construction segment is sub-divided into manufacturing plants, metal & material processing units, chemical & pharmaceuticals facilities, and other industrial constructions. The infrastructure construction segment is further divided into marine and inland water infrastructure and inland transportation infrastructure. The infrastructure construction segment is sub-categorized into oil and gas infrastructure, power infrastructure, communication infrastructure, and water and sewer infrastructure.
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Based on geography, the research sub-divides the market into North America, Europe, Asia-Pacific, and RoW. As per the report, Asia-Pacific accounted for the highest market share in 2021, and will maintain its highest continuation in terms of revenue during the forecast period. This is due to increase in construction activities in India, Vietnam, Indonesia, China, and Southeast Asian countries along with advancements in technology, supportive regulatory policies, and favorable government norms. However, Europe is estimated to experience a steady growth throughout the forecast period, owing to increase in renovation activities of residential buildings and apartments and surge in demand for consumer-oriented construction activities.
The report also offers a detailed analysis of each region and country based on aforementioned segments and sub-segments. This analysis is valuable in determining segments and regions with huge opportunities and raising the construction market share in the coming years.
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The report provides a detailed profiling and analysis of leading players operating in the construction market. This is helpful in outlining the competitive scenario and determining strategies to be adopted to gain competitive advantage. Leading players analyzed in the research are China State Construction Engineering Corporation, Vinci SA, China Railway Group Limited, Metallurgical Corporation of China Limited, China Railway Construction Corporation Limited, Bouygues S.A., Grupo ACS, Obayashi Corporation, Skanska AB, and D.R. Horton, Inc. The research provides their business performance, key strategies and developments, and sales based on business segments to highlight competitive landscape.
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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top quality research and the obsession of turning data into knowledge by dissecting every bits of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.
We have been servicing over 1,000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
