World Construction Industry to Post 4.2% CAGR to 2023, States Lucintel in Its Topical Report Available at MarketPublishers.com16 Jan 2018 • by Natalie Aster
LONDON – The world construction industry’s future looks positive with opportunities lying majorly in non-residential, residential and infrastructure. The industry is projected to amount to USD 10.5 trillion by end-2023, and it is set to register a 4.2% CAGR to 2023. The key factors propelling the market’s growth are expanding housing starts and developing infrastructure owing to urbanization growth and expanding population.
Emerging trends having a direct influence on the construction sector dynamics include a hike in the demand for green construction to decrease CO2 emissions, bridge lock-up device (LUD) systems to make improvements to the service life of structures, building IT systems for effective building management, and the usage of fiber-reinforced polymer (FRP) composites for the restoration of aging structures.
Geography-wise, APAC is poised to remain the key market in the offing primarily due to rising urbanisation, a hike in spending on infrastructure-based development, and budget-friendly housing projects.
The residential segment is set to capture the lion’s share of the market. It became possible to finance residential construction projects due to enhancements in market fundamentals, like reduced interest rates.
Grupo ACS, China State Construction Engineering Corporation, Vinci SA, China Railway Construction Corporation, and China Railway Group Limited are amid the prominent companies active in the construction industry.
Topical research publication “Growth Opportunities in the Global Construction Industry” elaborated by Lucintel presents an all-encompassing analysis of the marketplace from a global perspective.
The report presents an insightful analysis of the market size, by shipment value, including and forecasts through 2023, segmented based on type and region. It offers a comprehensive assessment of market trends and forecast by segments and region. The study offers a granular analysis of the market size of the industry by different applications like type by value and volume shipment, and includes an exhaustive regional analysis of the market is included. It also limelights growth opportunities in the segments discussed. The research report provides a comprehensive evaluation of M&As and new product developments, explores the competitive scenario of the world construction industry, as well as profiles the leading market participants.
More topical market research reports elaborated by Lucintel are available at the publisher’s page at MarketPublishers.com.