Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2024-2028
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Construction Market Overview
The challenging macroeconomic and geopolitical environment will result in slow growth in the global construction industry in 2024. Although the slowdown is being felt across many markets, advanced economies are likely to be majorly impacted, especially with lower output in Western Europe. In terms of industry, growth in energy and utilities as well as infrastructure construction will drive the overall real construction growth by 2028.
The construction industry report provides a detailed market growth analysis of the global construction industry up to 2028. The report further covers the regional outlook with a country-wise overview, including crucial project updates, to identify future business prospects.
Key Regions | · US and Canada
· Latin America · Western Europe · Eastern Europe and Central Asia · South-East Asia · South Asia · Australasia · North-East Asia · Middle East and North Africa · Sub-Saharan Africa |
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Construction Market Segmentation by Regions
The key regions in the construction market are the US and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, South-East Asia, South Asia, Australasia, North-East Asia, Middle East and North Africa, and Sub-Saharan Africa. In 2024, North-East Asia accounted for the largest share of the construction market.
North-East Asia: Construction activity in North-East Asia remained robust in Q4 2023, with growth primarily driven by the Chinese construction industry. China, Japan, South Korea, Taiwan, Hong Kong, Macau, and Mongolia are the leading contributors to the region’s construction market.
The Chinese construction industry will benefit from the acceleration of the number of projects in the infrastructure and the energy and utilities sectors. The industry’s output will be further supported by investment in energy and infrastructure projects between 2025 and 2028. Additionally, the government plans to invest CNY92.4 trillion ($13.8 trillion) by 2060 in green power transformation. It also plans to source 33% of power from renewable sources by 2025 and achieve net-zero emissions of greenhouse gases by 2060.
Construction Market Analysis by Regions, 2024 (%)
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Construction Market – Latest News & Developments
- In September 2023, the government announced it plans to add 2,500km of high-speed railway lines and expand its total rail network by 50,000km by 2025. Furthermore, the NDRC and the Ministry of Transport’s plan to construct 461,000km of highways by 2035, with 162,000km of motorways, will enhance the industry’s outlook.
- In October 2023, the Chinese central government announced its plans to issue CNY1 trillion ($149.3 billion) in additional central government bonds to support the rebuilding of disaster-hit areas and raise the country’s disaster relief capability.
Segments Covered in the Report
Construction Market Regional Outlook
- US and Canada
- Latin America
- Western Europe
- Eastern Europe and Central Asia
- South-East Asia
- South Asia
- Australasia
- North-East Asia
- Middle East and North Africa
- Sub-Saharan Africa
Scope
- An overview of the outlook for the global construction industry to 2028.
- 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 2028. 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.
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Frequently asked questions
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Which are the key regions in the construction market?
The key regions in the construction market are the US and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, South-East Asia, South Asia, Australasia, North-East Asia, Middle East and North Africa, and Sub-Saharan Africa.
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Which was the leading region in the construction market in 2024?
In 2024, North-East Asia accounted for the largest share of the global construction market.
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Which are the key sectors in the construction market?
The construction market report covers infrastructure, energy & utilities, commercial & institutional, industrial, and residential sectors.
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