Dublin, Sept. 13, 2024 (GLOBE NEWSWIRE) -- The "Global Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
This report provides data and trend analyses on Global construction industry, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 1,500+ charts and 1,200+ tables. It details market size & forecast, top cities construction data, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.
The global construction industry is poised for significant growth, driven by government initiatives, urbanization, and increasing foreign investment. As the sector navigates challenges such as rising material costs and labour shortages, stakeholders must remain proactive in leveraging emerging trends and aligning with government priorities.
By embracing sustainable practices, adopting innovative technologies, and fostering strategic partnerships, construction companies can capitalize on the immense opportunities presented by the global construction boom and contribute to long-term prosperity. In summary, the construction industry is at a crossroads where sustainability, technological advancement, and strategic investment will dictate its future trajectory. Executives must focus on agility and adaptability to thrive in this dynamic environment.
The global construction industry is entering a transformative phase characterized by significant growth opportunities and challenges. As economies recover from the pandemic, various regions are witnessing increased investments in infrastructure, residential, and commercial projects.
- Increased Focus on Sustainability: Sustainability is becoming a central theme in construction, with companies adopting eco-friendly practices and materials. The shift towards green building certifications and energy-efficient designs is a regulatory requirement and a response to growing consumer demand for environmentally responsible projects.
- Technological Advancements Reshaping the Industry: The integration of technologies such as Building Information Modeling (BIM), artificial intelligence (AI), and the Internet of Things (IoT) is transforming construction processes. These technologies enhance project efficiency, improve safety, and reduce costs, enabling firms to deliver projects more effectively.
- Labor Shortages and Skills Gaps: A persistent challenge facing the construction industry is the shortage of skilled labour. As demand for construction services increases, companies struggle to find qualified workers, prompting them to invest in training and development programs to build a more skilled workforce.
Residential Construction: Meeting Growing Housing Demands
- Surge in Housing Demand: The residential construction sector is witnessing a significant uptick in demand, driven by urbanization and population growth. In many regions, particularly in emerging markets, there is a pressing need for affordable housing solutions to accommodate growing urban populations.
- Focus on Affordable Housing Initiatives: Governments are implementing various initiatives to promote affordable housing. For example, in the United States, the Biden administration has proposed increased funding for affordable housing projects as part of its infrastructure plan to address the housing crisis exacerbated by the pandemic.
Commercial Construction: Adapting to Changing Market Dynamics
- Investment in Mixed-Use Developments: The commercial construction sector is evolving, focusing on mixed-use developments that integrate residential, retail, and office spaces. This trend is particularly evident in urban areas where land scarcity necessitates multifunctional spaces that cater to diverse needs.
- Growth of E-commerce and Logistics Facilities: E-commerce has led to increased demand for logistics and distribution centers. Companies are investing in warehouse facilities to streamline their supply chains and meet the growing consumer demand for quick delivery services.
Institutional Construction: Enhancing Public Services
- Increased Spending on Education and Healthcare: Governments worldwide are allocating substantial funds to construct educational and healthcare facilities. For instance, the UK government has significantly invested in school infrastructure and hospital upgrades to improve public services.
- Focus on Disaster Resilience: Institutional projects are increasingly incorporating disaster resilience measures into their designs. This focus ensures that essential services can continue during and after natural disasters, enhancing community safety and preparedness.
Industrial Construction: Supporting Economic Growth
- Expansion of Manufacturing Facilities: The industrial construction sector is experiencing growth driven by increased manufacturing and logistics facilities demand. Governments are promoting local production capabilities to reduce reliance on imports, fuelling investments in this area.
- Investment in Renewable Energy Infrastructure: Significant investments are being made in renewable energy projects, particularly solar and wind energy. Countries are setting ambitious targets for renewable energy capacity, necessitating extensive industrial construction efforts.
Infrastructure Construction: Building for the Future
- Major Infrastructure Projects Underway: Infrastructure construction remains a cornerstone of economic development, with numerous projects underway globally. The Belt and Road Initiative in Asia and significant transportation upgrades in the United States are examples of large-scale infrastructure investments to enhance connectivity and economic growth.
- Focus on Transportation Networks: Governments are prioritizing the development of transportation infrastructure, including roads, railways, and airports, to facilitate trade and improve logistics. Investments in transportation networks are essential for boosting economic competitiveness and regional integration.
This bundled offering comprising 15 country reports. Each country report covers the following modules:
- Market Dynamics by Value, Volume, and No. Of Units: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the building and infrastructure construction industry.
- Residential Construction Outlook: Provides market analysis by type of construction, development stage, price point, and key cities. KPIs include value, volume and number of units.
- Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
- Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, and chemical & pharmaceutical buildings.
- Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants and educational buildings.
- Infrastructure Construction Outlook: This report provides growth dynamics and market analysis for three key sections: marine and inland, utility system and transport infrastructure construction.
- City Level Analysis: Provides an outlook of each country's top 10 cities by construction value.
For more information about this report visit https://www.researchandmarkets.com/r/r653bu
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