NEW YORK, April 4, 2018 /PRNewswire/ -- The future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure. The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to increasing urbanization and growing population.
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Emerging trends which have a direct impact on the dynamics of the construction industry include increasing demand for green construction to reduce carbon footprint, bridge lock-up device systems to enhance the life of structures, building information systems for efficient building management, and the use of fiber-reinforced polymer composites for the rehabilitation of aging structures.
Global Construction Industry Trends Global Construction Industry Growth Opportunities for the Global Construction Industry
The study includes the construction industry size and forecast for the global construction industry through 2023 segmented by type and region, as follows:
Construction Industry by Type [Value ($ Billion) from 2012 to 2023]:
Residential
Non-Residential
Healthcare
Education
Hospitality
Retail
Office
Infrastructure Transport
Infrastructure Roads and Bridges
Power and Energy
Water and Wastewater
Others
Construction Industry by Region [Value ($ Billion) from 2012 to 2023]:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Russia
Spain
Italy
APAC
China
Japan
India
ROW
Brazil
United Arab Emirates
Construction industry companies profiled in this market include China State Construction Engineering Corporation, China Railway Group Limited, China Railway Construction Corporation, Vinci SA, and Grupo ACS.
On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
Within the global construction industry, the residential segment is expected to remain the largest segment. Financing for residential construction projects has become available with improvements in market fundamentals, like lower interest rates.
APAC is expected to remain the largest market during the forecast period mainly due to increasing urbanization, higher expenditure on infrastructural development, and affordable housing projects.
Some of the features of "Growth Opportunities in the Global Construction Industry 2018-2023: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global construction industry size estimation in terms of value ($B) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
Segmentation analysis: Global construction industry market size by various applications such as type in terms of value and volume shipment.
Regional analysis: Global construction industry breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of construction in the global construction industry.
Strategic analysis: This includes M&A, new product development, and competitive landscape of construction in the global construction industry. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for global construction industry by type (residential, non-residential, and infrastructure) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this construction market?
Q.6. What are the emerging trends in this construction market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the construction market?
Q.8. What are the new developments in the construction market and which companies are leading these developments?
Q.9. Who are the major players in this construction market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this construction market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activities have occurred in the last 5 years in this construction market?
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