LONDON, April 13, 2016 /PRNewswire/ -- Synopsis
The report provides the CIC's view of the outlook to 2020 for the global economy and the global construction industry, and how the industry will evolve in all major countries worldwide
The global construction industry is regaining strength, having endured a prolonged period of sluggishness in the wake of the global financial crisis.
In real value terms (measured at constant 2010 US$ exchange rates) global construction output reached US$8.5 trillion in 2015, up from US$7.5 trillion in 2010.
Over the forecast period (2016–2020) the pace of expansion will accelerate to an annual average of 3.4% – up from 2.4% in the preceding five-year period – with the industry reaching value of US$10.0 trillion in 2020
- An overview of the outlook for the global economy
- An assessment of the outlook for the global economy, broken down by major regions
- A review of global construction risk
- Profiles for 50 major markets, including an overview, focus points and risk watch
Reasons To Buy
Gain an understanding of general state of the global economy and construction industry.
Analyse performance region-by-region and country-by-country, and gain insight into key issues affecting the construction industry.
Review top-line risks in the industry, with country rankings and highlights from the CIC Construction Risk Index, to assist in market expansion plans.
Across the major regions of the world, the industry's performance remains mixed. The emerging world will continue to outperform advanced economies, with the pace of growth in the former easing back to an annual average of 4.2% over the forecast period from 5.2% in 2011–2015. The value of construction activity in the emerging world (at real 2010 US$ exchange rates) surpassed that of advanced economies in 2014, and the difference will continue to widen. In 2010 emerging markets accounted for 43.9% of global output, a share that is anticipated to rise to 51.9% by 2020.
Asia-Pacific will continue to account for the largest share of the global construction industry, given it includes the large markets of China, Japan and India. However, the pace of growth will slow, given the relative sluggishness in China's construction industry, the expansion of which will be undermined by the glut of new residential property. The emerging markets of South-East Asia will invest heavily in new infrastructure projects, supported by private investment.
Construction industries in most Western European countries are recovering but, on the whole, output in real terms will remain below the pre-crisis highs. Ongoing troubles in the eurozone and the Russia-Ukraine crisis mean that investor confidence is still fragile. Germany's construction industry will remain sluggish, hampered by weak investor confidence and the government's focus on austerity.
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