Global Construction Outlook 2020-2024 with Q3 2020 COVID-19 Impact Updates - Output is Projected to Grow by 4.1% in 2021
DUBLIN, Oct. 29, 2020 /PRNewswire/ -- The "Global Construction Outlook to 2024 (Q3 2020 Update)" report has been added to ResearchAndMarkets.com's offering.
The Global construction industry remains under intense stress amid the COVID-19 crisis. Restrictions on economic activity and country-level lockdowns were widely eased during Q3 2020, and there have been indications that construction output has started to recover from the historic collapse recorded in Q2 2020.
There have also been a number of markets that appear to have weathered the COVID-19 crisis better than anticipated, notably the US and Germany. However, the devastating impact that the crisis is having on company earnings and household incomes will continue to constrain investment during the remainder of 2020 and through 2021. The publisher currently expects global construction output to contract by 3.1% in 2020, and excluding China the decline in construction output will be 5.3%.
Global construction output is projected to grow by 4.1% in 2021, and excluding China the pace of output growth will be 3.0%. However, this is not necessarily a sign of strength and a healthy recovery; this positive outturn is more a reflection of the depths to which the construction industry slumped in the first two quarters of 2020.
Assuming that governments do not again impose COVID-19 containment measures to the extremes of Q2 2020 and instead focus on targeted measures at a local level, in Q2 2021 there is likely to be a high jump in year-on-year growth given the low base period used for comparison, and this will mask the ongoing weakness in the global economy and the construction industry.
Scope
- An overview of the outlook for the global construction industry to 2024, with specific focus on assessing the impact of COVID-19
- Analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South and South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa.
- A comprehensive benchmarking of 92 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 2024, and understand the immediate risks and challenges presented by the spread of COVID-19. 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.
For more information about this report visit https://www.researchandmarkets.com/r/x0i91j
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SOURCE Research and Markets
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