Global Construction Market to Garner USD 14.41 Trillion by 2030, Highlights a New Report by Next Move Strategy Consulting

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 global construction market growth.

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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