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PUBLISHER: GlobalData | PRODUCT CODE: 1663743
PUBLISHER: GlobalData | PRODUCT CODE: 1663743
Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2024-2028 (Q4 2024)
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PAGES: 104 Pages
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This report provides a detailed analysis of the prospects for the global construction industry up to 2028.
GlobalData forecasts global construction output to rise by 2.3% in 2024, following a year of consolidation and disinflation. This proceeds stronger growth of 4.3% in 2023, driven by government stimulus programs in infrastructure and energy and utilities construction, which aimed to boost aggregate supply and reduce inflation. This marks a slight downwards revision for 2024 construction growth, following estimates of 2.5% in Q3, which are caused by lower than expected growth in China and Western Europe. The construction market in 2024, exempting the United States, can be characterised by a lack of momentum, as the long term effects of the inflationary period and elevated (but declining) global interest rates continue to impact markets. A general lack of demand across Europe, especially in manufacturing, as well as rising construction costs globally, amplified by geopolitical issues, further compound the problem. As a result, all regions par North America will register lower growth in 2024 than 2023. However, into 2025, inflation has vastly returned to central banks respective targets, allowing for further monetary easing, parring heated economies such as Brazil. Furthermore, as lower interest rates start to affect the real economy, growth prospects are projected to improve over the forecast period. This will be especially beneficial for residential construction - the largest subsector - that following two years of decline, is set to return to growth in 2025 and drive expansion in the global construction market. GlobalData forecasts global construction output to increase to 2.8% in 2025, before expanding by a further 3.7% in 2026
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.
Product Code: GDCN0038GO
Table of Contents
Table of Contents
1 Global Outlook
2 Regional Outlook: US and Canada
- 2.1 Overview
- 2.2 Key Updates
3 Regional Outlook: Latin America
- 3.1 Overview
- 3.2 Key Updates
4 Regional Outlook: Western Europe
- 4.1 Overview
- 4.2 Key Updates
5 Regional Outlook: Eastern Europe & Central Asia
- 5.1 Overview
- 5.2 Key Updates
6 Regional Outlook: South-East Asia
- 6.1 Overview
- 6.2 Key Updates
7 Regional Outlook: South Asia
- 7.1 Overview
- 7.2 Key Updates
8 Regional Outlook: Australasia
- 8.1 Overview
- 8.2 Key Updates
9 Regional Outlook: North-East Asia
- 9.1 Overview
- 9.2 Key Updates
10 Regional Outlook: Middle East and North Africa
- 10.1 Overview
- 10.2 Key Updates
11 Regional Outlook: Sub-Saharan Africa
- 11.1 Overview
- 11.2 Key Updates
Appendix
- About GlobalData
- Contact Us
Product Code: GDCN0038GO
List of Tables
- Table 1: Global Construction Output Growth (Real, % Change), 2021-2028
- Table 2: North America, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 3: Latin America, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 4: Middle East and North Africa, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 5: Sub-Saharan Africa, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 6: South-East Asia, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 7: South Asia, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 8: North-East Asia, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 9: Australasia, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 10: Western Europe, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 11: Eastern Europe & Central Asia, Construction Output Value (Real, $ 2022 Billion), 2018-2028
- Table 12: US and Canada, Construction Output Growth (Real, % Change)
- Table 13: Latin America, Construction Output Growth (Real, % Change)
- Table 14: Western Europe, Construction Output Growth (Real, % Change)
- Table 15: Eastern Europe and Central Asia, Construction Output Growth (Real, % Change)
- Table 16: South-East Asia, Construction Output Growth (Real, % Change)
- Table 17: South Asia, Construction Output Growth (Real, % Change)
- Table 18: Australasia, Construction Output Growth (Real, % Change)
- Table 19: North-East Asia, Construction Output Growth (Real, % Change)
- Table 20: Middle East and North Africa, Construction Output Growth (Real, % Change)
- Table 21: Sub-Saharan Africa, Construction Output Growth (Real, % Change)
List of Figures
- Figure 1: Global Construction Output Value by Sector (Real, Index 2019=100), 2021-2028
- Figure 2: Global Construction Output Value by Region (Real, 2022 $ Billion), 2020-2028
- Figure 3: Global Construction Output and GDP by Region and Sector, 2024
- Figure 4: Construction Output Growth vs Risk, by Country
- Figure 5: US and Canada, Construction Output Value (Real, $ 2022 Billion)
- Figure 6: The US, Number of People Employed in the Construction Industry, In Thousands
- Figure 7: Canada, Building Construction Prices Indices, 2017=100, % Change (YoY)
- Figure 8: Latin America, Construction Output Value (Real, $ 2022 Billion)
- Figure 9: Mexico, Construction Production Volume Index (2013=100)
- Figure 10: Brazil, Number of People Employed in the Construction Industry, In Thousands
- Figure 11: Panama, Total Value of Goods Exports ($ Million)
- Figure 12: Western Europe, Construction Output Value (Real, $ 2022 Billion)
- Figure 13: The UK, Construction Output, Chained Volume Measures, Seasonally Adjusted (GBP Million)
- Figure 14: Germany, Construction value-add, 2015 Chained Linked Volume Measures (EUR Million)
- Figure 15: France, Construction Value-add (EUR Million, 2020 Chained Prices)
- Figure 16: Italy, Construction Value-add (EUR Million, 2020 chained prices)
- Figure 17: Spain, Construction Value-add (EUR Million, 2020 Chain Linked Volume Prices)
- Figure 18: Eastern Europe and Central Asia, Construction Output Value (Real, $ 2022 Billion)
- Figure 19: Russia, Construction Value-Add (RUB Billion, 2021 Constant Prices)
- Figure 20: Turkey, Construction Value-add (TRY Million, 2009 Chain Linked Volume Measures)
- Figure 21: Poland, Wholesale and Retail Trade Value-add (PLN Million, 2020 Chained Prices)
- Figure 22: South and South-East Asia, Construction Output Value (Real, $ 2022 Billion)
- Figure 23: The Philippines, Construction Value-Add (PHP Billion, 2018 Constant Prices)
- Figure 24: Thailand, Construction Value-add (THB Million, 2002 Constant Prices)
- Figure 25: Singapore, Total Fixed Capital Formation in Construction (2015 Chained Prices, SGD Million)
- Figure 26: Malaysia, Loans Disbursed for the Construction Industry (MYR Million)
- Figure 27: The Philippines, Construction Value-add (PHP Billion, 2018 Constant Prices)
- Figure 28: Vietnam, Construction Value-add, 2010 Constant Prices (VND Billion)
- Figure 29: South Asia, Construction Output Value (Real, $ 2022 Billion)
- Figure 30: India, Construction Value-add (Constant 2011-12 Prices, INR Billion)
- Figure 31: Bangladesh, CPMI Scores, 3-month Moving Average Trend Score
- Figure 32: Australasia, Construction Output Value (Real, $ 2022 Billion)
- Figure 33: Australia, Total Value of Construction Work Done, AUD Billion Chain Volume Measure
- Figure 34: Australia, Private Gross Fixed Capital Formation, Seasonally Adjusted Chain Volume Measures (AUD Billion, % Change YoY)
- Figure 35: New Zealand, Construction Value-Add, (NZD Million, 2009/2010 Chain-Volume Measures)
- Figure 36: New Zealand, Total Value of Building Work Put in Place, % Change YoY
- Figure 37: New Zealand, Gross Fixed Capital Formation, (NZD million, 2009/2010 Chain-Volume Measures)
- Figure 38: New Zealand, Number of Building Consents Issued, Three-month moving average
- Figure 39: North-East Asia, Construction Output Value (Real, $ 2022 Billion)
- Figure 40: China, Construction Value-add, Accumulated Quarter, % Change YoY
- Figure 41: South Korea, Construction Value-Add (KRW Trillion, 2020 Chained Prices, Unadjusted)
- Figure 42: Japan, Total Value of Private Sector Investments on Buildings (JPY Billion)
- Figure 43: Taiwan, Construction Value-Add, In Chained 2016 Prices, In TWD Billion
- Figure 44: Macau, Gross Fixed Capital Formation (Chained 2022 Prices, % Change YoY)
- Figure 45: Middle East and North Africa, Construction Output Value (Real, $ 2022 Billion)
- Figure 46: The UAE, Construction Projects Momentum Index
- Figure 47: Saudi Arabia, Construction Projects Momentum Index
- Figure 48: Sub-Saharan Africa, Construction Output Value (Real, $ 2022 Billion)
- Figure 49: Nigeria, Real estate Value-add (NGN Billion, 2010 Constant Prices)
- Figure 50: South Africa, Gross Fixed Capital Formation (ZAR Billion, Constant 2015 Prices)
- Figure 51: Ethiopia, Headquarters of Key Contractors (% of Total Project Pipeline)
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