DUBLIN--(BUSINESS WIRE)--The "Construction Global Market Opportunities and Strategies to 2022" report has been added to ResearchAndMarkets.com's offering.
Global Construction Market Opportunities and Strategies to 2022 report provides the strategists, marketers and senior management with the critical information they need to assess the global construction market.
The global construction market reached a value of nearly $12,558.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.3% since 2014, and is expected to grow at a CAGR of 10.6% to nearly $18,775.3 billion by 2022. Growth in the historic period resulted from strong economic growth in emerging markets, low interest rates, and technological advances. Factors that negatively affected growth in the historic period were geo-political tensions that hampered construction activity globally.
Going forward, faster global economic growth, and rapid urbanization in developing countries will drive growth. Factors that could hinder the growth of the construction market in the future include rising interest rates in most developed and developing countries.
The construction market is segmented into buildings construction, heavy and civil engineering construction, specialty trade contractors, and land planning and development. Buildings construction was the largest segment of the construction market in 2018 at 50.5%. The land planning and development market is expected to be the fastest-growing segment going forward at a CAGR of 13.3%.
The buildings construction market is segmented into residential building construction and non-residential building construction. Residential building construction was the largest segment of the buildings construction market in 2018 at 55.6%. The non-residential building construction market is expected to be the fastest-growing segment going forward at a CAGR of 10.7%.
The residential building construction market is further segmented into new housing for-sale builders, residential remodelers, single-family housing construction (individual houses), and multifamily housing construction (apartments). New housing for-sale builders was the largest segment in the residential building construction market in 2018 at 38.3%.
The non-residential building construction market is further segmented into commercial buildings and institutional buildings. Commercial buildings was the largest segment in the non-residential building construction market in 2018 at 51.6%.
The heavy and civil engineering construction market is segmented into utility system construction, highway, street, and bridge construction, and other heavy and civil engineering construction. Utility system construction was the largest segment of the heavy and civil engineering construction market in 2018 at 43.5%. The other heavy and civil engineering construction market is expected to be the fastest-growing segment going forward at a CAGR of 11.7%.
The utility system construction market is further segmented into power and communication line and related structures construction, water and sewer line and related structures construction and oil and gas pipeline and related structures construction. Power and communication line and related structures construction was the largest segment in the utility system construction market in 2018 at 35.0%.
The highway, street, and bridge construction market is further segmented into roads and highways, bridges and tunnels and others. Roads and highways was the largest segment in the highway, street, and bridge construction market in 2018 at 84.0%.
The specialty trade contractors market is segmented into foundation, structure, and building exterior contractors, building equipment contractors, building finishing contractors, and other specialty trade contractors. Building equipment contractors was the largest segment of the specialty trade contractors market in 2018 at 44.1%. The building finishing contractors market is expected to be the fastest-growing segment going forward at a CAGR of 12.1%.
The foundation, structure, and building exterior contractors market is further segmented into concrete work, roofing contractors, masonry contractors, framing contractors, glass and glazing contractors, other foundation, structure, and building exterior contractors, and siding contractors. Concrete work was the largest segment in the foundation, structure, and building exterior contractors market in 2018 at 40.9%.
The building equipment contractors market is further segmented into plumbing, heating and air-conditioning contractors, electrical contractors and other wiring installation contractors, and other building equipment contractors. Plumbing, heating and air-conditioning contractors was the largest segment in the building equipment contractors market in 2018 at 52.1%.
The building finishing contractors market is further segmented into drywall and insulation contractors, painting and wall covering contractors, finish carpentry contractors, flooring contractors, tile and terrazzo contractors, and other building finishing contractors. Drywall and insulation contractors was the largest segment in the building finishing contractors market in 2018 at 32.9%.
The land planning and development market is segmented into residential land planning and development, commercial and institutional land planning and development, and industrial land planning and development. Residential land planning and development was the largest segment of the land planning and development market in 2018 at 77.8%. This market is expected to be the fastest-growing segment going forward at a CAGR of 13.5%.
The residential land planning and development market is further segmented into houses and housing estate developments and apartments and other residential developments. Houses and housing estate developments was the largest segment in the residential land planning and development market in 2018 at 65.7%.
The commercial and institutional land planning and development market is further segmented into commercial land planning and development and institutional land planning and development. Commercial land planning and development was the largest segment in the commercial and institutional land planning and development market in 2018 at 57.8%.
The industrial land planning and development market is further segmented into other industrial land planning and development and factories land planning and development. Other industrial land planning and development was the largest segment in the industrial land planning and development market in 2018 at 70.7%.
Asia-Pacific was the largest market for construction, accounting for 42.1% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the construction market will be Africa and the Middle East, where growth will be at CAGRs of 15.6% and 14.3% respectively. These will be followed by Asia-Pacific and South America, where the markets are expected to grow at CAGRs of 12.7% and 12.6% respectively.
The construction market is highly fragmented, with a large number of small players. The top ten players constitute about 4.7% of the market. Major players in the market include China State Construction Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., and Vinci Sa.
The top opportunities in the global construction market will arise in the buildings construction segment, which will gain $3,071.5 billion of global annual sales by 2022. The construction market size will gain the most in China at $1,178 billion. The top opportunities in the global buildings construction market will arise in the residential building construction segment, which will gain $1653.8 billion of global annual sales by 2022.
The top opportunities in the global heavy and civil engineering construction market will arise in the utility system construction segment, which will gain $416.4 billion of global annual sales by 2022. The top opportunities in the global specialty trade contractors market will arise in the building equipment contractors segment, which will gain $836.8 billion of global annual sales by 2022. The top opportunities in the global land planning and development market will arise in the residential land planning and development segment, which will gain $69.3 billion of global annual sales by 2022.
Companies Mentioned
- Aecon Group
- Al Habtoor Group LLC
- Al-Naboodah Constructing
- Andrade Gutierrez
- Anker Hansen & Co A/S
- Arabian Construction Company
- Babis Vovos International Construction
- Balfour Beatty
- Bauer Group
- Bennett Construction Limited
- Berios
- Camargo Corra
- Carillion
- Casais Group
- CC Contractor A/S
- China Communications Construction Group Ltd.
- China Railway Construction Corporation Limited
- China Railway Group Ltd.
- China State Construction Engineering Corp Ltd
- Christiansen & Essenbk A/S
- CIMIC Group
- Colas Group
- Collen Construction Limited
- Consolidated Contractors Group
- Construction Group International
- CTR Group as
- Denezam
- DG Construction
- DLF
- Dutco Balfour Beatty LLC
- Eiffage Construction
- EKE-Construction Ltd
- EllisDon Inc
- ESTA Construction
- Etalon Group
- Fluor Corporation
- Galliford Try
- GERC
- Gilbane Building Company
- Glavstroy
- Hindustan Construction Company
- Hunan Construction Engineering Group Corp
- Interconstruct
- Interserve
- JGC Corporation
- Julius Berger
- Kajima Corporation
- Kier
- Kiewit
- Laing O' Rourke
- Larsen & Toubro
- Ledcor Group of Companies
- Lendlease Group
- LLC Stroygazmontazh
- Lubrik Construction Company
- McCrory Construction Company
- Morgan Sindall
- Mourik General Contractors
- MRV Engenharia
- Obayashi Corporation
- Oderbrecht
- Orascom Contstruction
- Perry Construction
- Punj Lioyd
- Queiroz Galvo
- Reliance Infrastructure Limited
- Reynolds Construction Company
- SalfaCorp
- SGS
- Shaanxi Construction Engineering Group Corp Ltd
- Shanghai Construction Group Co Ltd
- Shimizu Corporation
- Takenaka Corporation
- Tata Projects
- Thabimndeni Construction & Projects CC
- Vinci S.A.
For more information about this report visit https://www.researchandmarkets.com/r/o5r05f
