Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2025-2029 (Q4 2025)

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Published: December 31, 2025 Report Code: GDCN0042GO-ST

Report Overview
Table of Contents
Table
Figures

This report provides a detailed analysis of the prospects for the global construction industry up to 2029.

Heading into 2026, the global construction market remains fragmented as stakeholders adjust to a new trade environment shaped by tight financing conditions and increasingly protectionist US policies. Beyond the direct impact of higher cross border trade costs, 2025 produced knock on effects across the construction value chain as suppliers reconfigured supply routes to avoid levies, contributing to persistently high material prices. Contractors are also contending with skilled labor shortages, which are pushing up delivery costs and driving a rise in insolvencies across Europe and North America. At the same time, consumer and investor confidence remains subdued, reflecting uncertainty over the economic and geopolitical risks of investing in regions caught between competing US and Chinese interests. Against this backdrop, GlobalData estimates global construction output grew only modestly in 2025, at 0.5% in real terms.

In developed markets such as the US and Western Europe, elevated interest rates and weak sentiment continue to weigh on residential building. US construction spending is estimated to have fallen by 0.4% in 2025, with multifamily construction down 11% and single family output declining 3.1%. Residential markets also contracted in Europe, with output falling by an estimated 3.0% in Germany, 2.6% in Sweden, and 1.3% in France. Infrastructure has been the main stabilizer: the EU’s Recovery and Resilience Facility, Canada’s renewable energy and transport programs, and Australian initiatives are supporting activity. Among the strongest infrastructure performers in 2025 were India and Saudi Arabia, expected to have grown by 8.1% and 4.0%, respectively.

Three regions are forecasted to have recorded negative construction output in 2025, led by North America, where activity is expected to have declined by 2.2%. North‑East Asia and Latin America are also projected to have faced decline, falling 1.0% and 0.2%, respectively. In contrast, South Asia, South‑East Asia, and the Middle East and North Africa are each expected to deliver growth of more than 5% in 2025. Advanced economies are projected to stagnate in 2025, with zero growth, while emerging markets are expected to post only modest gains – leading to further convergence. Even so, emerging-market growth is forecast at just 0.7%, down sharply from 3.9% in 2024 and 5.8% in 2023, demonstrating the difficulties the construction industry currently faces.

Scope

An overview of the outlook for the global construction industry to 2029.

Analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South Asia, South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa.

A comprehensive benchmarking of 91 leading construction markets according to construction market value and growth

Analysis of the latest data on construction output trends in key markets.

Reasons to Buy

Evaluate regional construction trends from insight on output values and forecast data to 2029. Identify the fastest growers to enable assessment and targeting of commercial opportunities in the markets best suited to strategic focus.

Identify the drivers in the global construction market and consider growth in emerging and developed economies. Formulate plans on where and how to engage with the market while minimizing any negative impact on revenues.

1 Global Outlook

2 Regional Outlook: US and Canada

2.1 Overview

2.2 Key Updates

3 Regional Outlook: Latin America

3.1 Overview

3.2 Key Updates

4 Regional Outlook: Western Europe

4.1 Overview

4.2 Key Updates

5 Regional Outlook: Eastern Europe & Central Asia

5.1 Overview

5.2 Key Updates

6 Regional Outlook: South-East Asia

6.1 Overview

6.2 Key Updates

7 Regional Outlook: South Asia

7.1 Overview

7.2 Key Updates

8 Regional Outlook: Australasia

8.1 Overview

8.2 Key Updates

9 Regional Outlook: North-East Asia

9.1 Overview

9.2 Key Updates

10 Regional Outlook: Middle East and North Africa

10.1 Overview

10.2 Key Updates

11 Regional Outlook: Sub-Saharan Africa

11.1 Overview

11.2 Key Updates

Appendix

About GlobalData

Table

Table 1: Global Construction Output Growth (Real, % Change), 2020–2029

Table 2: North America, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 3: Latin America, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 4: Middle East and North Africa, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 5: Sub-Saharan Africa, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 6: South-East Asia, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 7: South Asia, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 8: North-East Asia, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 9: Australasia, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 10: Western Europe, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 11: Eastern Europe & Central Asia, Construction Output Value (Real, $ 2022 Billion), 2020–2029

Table 12: US and Canada, Construction Output Growth (Real, % Change)

Table 13: Latin America, Construction Output Growth (Real, % Change)

Table 14: Western Europe, Construction Output Growth (Real, % Change)

Table 15: Eastern Europe and Central Asia, Construction Output Growth (Real, % Change)

Table 16: South-East Asia, Construction Output Growth (Real, % Change)

Table 17: South Asia, Construction Output Growth (Real, % Change)

Table 18: Australasia, Construction Output Growth (Real, % Change)

Table 19: North-East Asia, Construction Output Growth (Real, % Change)

Table 20: Middle East and North Africa, Construction Output Growth (Real, % Change)

Table 21: Sub-Saharan Africa, Construction Output Growth (Real, % Change)

Figures

Figure 1: Global Construction Output Value by Sector (Real, Index 2019=100), 2020–2029

Figure 2: Global Construction Output Value by Region (Real, 2022 $ Billion), 2020–2029

Figure 3: Global Construction Output and GDP by Region and Sector, 2025

Figure 4: Construction Output Growth vs Risk, by Country

Figure 5: US and Canada, Construction Output Value (Real, $ 2022 Billion)

Figure 6: The US, Value of Construction Put in Place ($ Billion, Seasonally Adjusted Annual Rate), YoY % Change

Figure 7: Canada, Investment in Building Construction (CAD Million, Seasonally Adjusted Constant Prices)

Figure 8: Canada, Value of Building Permits Issued, in Seasonally Adjusted Constant Prices, % Change YoY

Figure 9: The US, Total Transportation Construction Put in Place (US$ Million, Seasonally Adjusted Annual Rate), YoY % Change

Figure 10: Latin America, Construction Output Value (Real, $ 2022 Billion)

Figure 11: Brazil, Construction – Operation Capacity Utilization (%)

Figure 12: Mexico, Construction Confidence Index, in Seasonally Adjusted Terms

Figure 13: Uruguay, Electric Power, Gas and Water Value-add, Constant 2016 Prices, (UYU Million)

Figure 14: Panama, Total Construction Area of the Main Municipalities in the Republic (m2)

Figure 15: Western Europe, Construction Output Value (Real, $ 2022 Billion)

Figure 16: The UK, Total Number of Company Insolvencies in England and Wales (Number of Companies), Unadjusted

Figure 17: Germany, Total Number of Building Permits Approved

Figure 18: France, Business Climate Composite Index

Figure 19: Italy, Construction Producer Price Indices for Construction of Residential and Non-residential Buildings (2021=100)

Figure 20: Spain, Harmonized Business Confidence Index, Q1 2013=100

Figure 21: Eastern Europe and Central Asia, Construction Output Value (Real, $ 2022 Billion)

Figure 22: Russia, Construction Value-add (RUB Billion, 2021 Constant Prices)

Figure 23: Türkiye, Construction Permits, In thousand m2

Figure 24: Poland, Construction Production Index (Chain Linked Volumes, Index 2021=100, % Change, YoY)

Figure 25: Czechia, Construction Labor cost index (Seasonally and calendar adjusted data, 2020=100)

Figure 26: Hungary, Employment in Construction (In Thousand)

Figure 27: South and South-East Asia, Construction Output Value (Real, $ 2022 Billion)

Figure 28: Singapore, Construction Value-add (SGD Million, 2015 Chained Prices)

Figure 29: The Philippines, Construction Value-Add (PHP Billion, 2018 Constant Prices)

Figure 30: Malaysia, Construction Output Value (Current Prices, MYR Million)

Figure 31: Indonesia, Construction Value-Add (2010 Constant Prices, IDR Trillion)

Figure 32: South Asia, Construction Output Value (Real, $ 2022 Billion)

Figure 33: India, Construction Value-Add (Constant 2011–12 Prices, INR Billion)

Figure 34: Pakistan, CPI (Urban) Index for Construction Input Items (2015-16=100)

Figure 35: Sri Lanka, Construction PMI

Figure 36: Bangladesh, Construction Value-Add at Constant Market Price (FY2015–16 Prices, BDT Million)

Figure 37: Australasia, Construction Output Value (Real, $ 2022 Billion)

Figure 38: New Zealand, Construction Value-Add, (NZD Million, 2009/2010 Chain-Volume Measures)

Figure 39: New Zealand, Total Value of Building Work Put in Place, % Change YoY

Figure 40: Australia, Total Value of Construction Work Done, AUD Billion Chain Volume Measures

Figure 41: Australia, Total Value of Building Construction Works Done, % Change YoY

Figure 42: North-East Asia, Construction Output Value (Real, $ 2022 Billion)

Figure 43: China, Construction Output, Accumulated CNY Million

Figure 44: South Korea, Construction Value-Add (KRW Trillion, 2020 Chained Prices, Unadjusted)

Figure 45: Taiwan, Construction Value-Add (Chained 2021 Prices, TWD Billion)

Figure 46: Mongolia, Construction Value-add (MNT Billion, 2015 Constant Prices)

Figure 47: Middle East and North Africa, Construction Output Value (Real, $ 2022 Billion)

Figure 48: Saudi Arabia, Real Estate Price Index (2023=100)

Figure 49: The UAE, Total Bank Credit to Construction and Real Estates (AED Million)

Figure 50: Egypt, Construction Value-Add (EGP Million, 2021-2022 Constant Prices)

Figure 51: Qatar, Total Building Permits, In Numbers

Figure 52: Israel, Employment in Construction Industry (In thousands)

Figure 53: Tunisia, Oil and Natural Gas Sector Value Add (TND Million, 2015 Constant Prices)

Figure 54: Sub-Saharan Africa, Construction Output Value (Real, $ 2022 Billion)

Figure 55: Nigeria, Construction Value-add (NGN Billion, 2019 Constant Prices)

Figure 56: South Africa, Gross Fixed Capital Formation (ZAR Billion, Constant 2015 Prices)

Figure 57: Tanzania, Construction Value-Add (TZS Billion, 2015 Constant Prices)

Figure 58: Angola, Economic Sentiment in the Construction Industry

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