The Global Construction Industry Market Size was valued at USD 11,217.4 billion in 2020 and is projected to reach USD xx.xx billion by 2027, at a CAGR of 1.4% during the forecast period. This report covers the forecast of the construction industry market and its dynamics over the next 7 years, while also recognizing market application gaps, recent developments in the market, and high potential countries. Globally, construction is more than USD 11 trillion industries, of which residential construction is the largest sector. The occurrence of COVID-19 has caused disruption in the residential construction sector. The main disruption is in the supply chain. The transformation of COVID-19 from a China-centric challenge to a global pandemic has resulted in shifting the impact to the global construction supply chains and markets.In the current situation, the builders and contractors are struggling to obtain permits for both new and in-process construction projects. Both construction companies and workers want to resume or continue their operations. However, new guidelines and regulations issued by the governments have created uncertainty and confusion for the companies as well as the laborers.
APAC is the major construction market owing to the increasing construction activities in China, India, and Southeast Asian countries. Advancements in technology, regulatory policies, and government norms are some of the major factors driving the construction industry in APAC. However, the COVID-19 pandemic has resulted in a huge decline in the construction market in the region owing to continuous lockdown across various countries in 2020
Main players covered by the study on the global market are Bechtel Group (US), Balfour Beatty (UK), Grupo ACS (Spain), China State Construction Engineering Corporation Limited (China), L&T Construction (India), PCL Construction Enterprises (Canada), and Skanska Construction (Sweden). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the construction industry.
The analysis of the report is carried on various primary and secondary data sources. The primary sources include conduction interviews with numerous industry analysts, suppliers, distributors, and other involved professionals. The secondary sources include a review of statistical data from press releases, government websites, annual reports of the companies, and other relevant documents.
During interviews, these primary and secondary sources provide exclusive information, which acts as a validation from global construction industry market leaders. Access to an extensive internal repository and external proprietary databases helps this study to address questions and details regarding the market. Also, the report uses the top-down approach to assess the figures for each segment and to counter-validate them with the bottom-up approach.We have covered two proprietary models in the construction industry report, the FPNV Positioning Matrix and the Competitive Strategic Window and. The FPNV Positioning Matrix analyses players’ competitive marketplace in terms of product satisfaction and business strategy they follow to sustain in the market. In terms of applications, markets, and geographies, the Competitive Strategic Window analyses the competitive landscape.
Summarization of Report
The research report provides a perspective of the attractiveness of the regions and segments which are formulated based on their growth rate (CAGR) and market size. Leading analysts and industry professionals present in various regions have validated the data & information provided in the report. The report provides the detailed analysis of forecasted data, revenues, and major developments. It also offers crucial strategies adopted by major organizations catering to the construction industry market. This provides important and in-depth insights to depict the overall market scenario.
Along with the market position, future trends, market share, market dynamics, opportunities, threats, risks and entry barriers, a detailed overview of the construction industry market is included. In the form of graphs, tables, pie chart, and product figures, all the brief points and analytical market data are statistically pictured to provide users with overall information.
Also, the report sheds light on upstream raw materials, downstream client survey, marketing channels, industry development trends and recommendations that specifically provide useful information on major manufacturing equipment suppliers, raw materials suppliers, major distributors, and major consumers with their contact information, for construction industry market chain analysis.
The key purpose of the report is to provide a growth map of the construction industry market and hence assist the client's in the formulation of required strategies to meet the business goals. Thus, there are many qualitative and quantitative tools used for growth mapping of the market. These include PESTEL analysis for various regions involved in the market, SWOT analysis of the industry, PORTER'S five forces for determination of different attributes such as the power of the buyer and supplier engaged in the market, threat of substitution, intensity of competition and threat of the new entrants in the market.
The survey report includes a comprehensive investigation into the construction industry Market, which is clearly arranged within the localities. The report provides an analysis for more than 20 countries of regional market players operating in the specific market, and results related to the target market. The report, which covers North America, South America, Europe, Asia Pacific (APAC), Africa and the Middle East, also contains a regional and country-level analysis of the market. The market is thoroughly analyzed in each region, allowing for the identification of regional market trends, impediments and opportunities for growth. Asia-Pacific is supposed to have greater demand in the forecast year because of the fast-growing population. This factor alone stands out as the reason why the region will be dominating the construction industry market share in the given forecast period. Due to improvements in GDP per capita and infrastructure development has urbanized the region to greater extent turning rural areas into urban areas. The sudden surge in the demand has caused the cities to fall into unsustainable consumption models. The top key players in the construction industry market are located in the region.
As large projects are ongoing in countries like China, India, Japan, South Korea, Australia and Indonesia in Asia Pacific, the region has potential to bypass any competition. This is also because of the great amount of reserves that the region has. Exploration activities in China are increasing which is why China may have great demand for tin catalysts and compounds. According to the National Bureau of Statistics, construction industry market will increase the regional demand during the forecast period.It is estimated that North America, the dominating country in construction industry market will show considerable growth during the forecast period. The growth would be possible because of marketing analytics tools and because of existing players that are firmly established in the market since the beginning. In addition to that, government agencies, companies, third-party administrators, etc. are channelizing their efforts to make customer-centric products which will also contribute to the growth in this region. Rising demand, increased income, advanced technology and machinery, along with the programs for spreading the awareness of the need will likely cause the construction industry market to grow substantially.
As the major players in the construction industry market focus on the expansion of the business throughout the globe, the regions like Middle East and Africa will experience steady growth. Latin America will experience considerable market growth because of the small-scale manufacturers attempting for a noteworthy share in the demand. On the contrary, Europe is said to show sluggish growth because of environment-centric regulation and it’s already developed countries.
A competitive landscape for the construction industry market is given in the study. To differentiate business attributes, key players operating in the industry have been identified and profiled. Company overview, latest trends, financial standings, and SWOT are some of the characteristics of key players in the industry that have been profiled in this study. Main players covered by the study on the global market are Bechtel Group (US), Balfour Beatty (UK), Grupo ACS (Spain), China State Construction Engineering Corporation Limited (China), L&T Construction (India), PCL Construction Enterprises (Canada), and Skanska Construction (Sweden). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the construction industry.
The Report Provides Insights on The Following Pointers:
1. Market Development: Provides extensive information about emerging markets and analyzes the markets for the global construction industry market
2. Market Penetration: Offers detailed information provided by the key players in the global construction industry market
3. Competitive Assessment & Intelligence: Offers an exhaustive assessment of strategies, products, market shares and manufacturing capabilities of the leading players in the global construction industry market
4. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global construction industry market
5. Market Diversification: Offers detailed information about recent developments, emerging geographies, new products launch, and investments in the global construction industry market
The Report Answers Questions Such As:
1. What is the global construction industry market's competitive position?
2. What is the size of the construction industry market globally?
3. What are the key factors driving the growth in the global construction industry market during the forecast period?
4. What are the opportunities in the global construction industry market?
5. Which are the main product fields to be invested in over the projected period in the global construction industry market?
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