Global Construction Industry and Market Dynamics: Comprehensive Databook Reveals Key Insights and Forecasts to 2027

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Mar 22, 2024, 20:00 ET

DUBLIN, March 22, 2024 /PRNewswire/ -- The "Global Construction Industry Market Intelligence Databook Subscription - Q1 2024" report has been added to ResearchAndMarkets.com's offering.

The global construction market is projected to remain impacted due to labor shortages and rising interest and material costs over the next few quarters. The current macroeconomic environment has resulted in the downfall of several builders over the last 12 months, especially in markets like Australia and Germany.

In other regions, like the Middle East and India, the construction market is poised for accelerated growth over the next three to four years. Increased spending from the public and private sectors will keep aiding the broader market growth. In India, the government has emphasized the importance of improved infrastructure to drive economic growth, and therefore, is expected to increase spending significantly in fiscal year 2024-25. The construction industry is also projected to show steady growth in the United States, wherein the CHIPS and Inflation Reduction Act is expected to lead to higher spending in the sector.

Australia, Germany, and the United Kingdom are anticipated to experience increased challenges due to macroeconomic factors

Insolvency rates have surged to record-high levels in the Australian market in 2023. Cost blowouts and labor shortages are among the several factors that have led to the downfall of many renowned builders in Australia in H1 2023 and the trend has further continued in H2 2023.

Similar trends have been emerging in the German market as well. Builders, in Germany, have been facing the perfect storm in rising interest rates, expensive construction materials, slowing demand, and a shortage of skilled workers The financing issues have subsequently resulted in the downfall of several developers including Centrum Group and Development Partner and Project Immobilien Gruppe. Soaring material prices also resulted in a higher number of project cancelations in 2023.

The high-interest rate environment has also put many housebuilding projects on hold in the United Kingdom market. With interest rates projected to remain higher for longer, further pressure on the construction market is expected in these nations from the short to medium-term perspective.

Construction market growth in India and Middle East will support the global industry

Despite the macroeconomic headwinds faced by the global construction market, the Middle Eastern region has shown strong resilience and the trend is expected to continue. Notably, the rising investment in non-energy infrastructure projects is also expected to accelerate the growth of the construction market, especially in the United Arab Emirates. The growing appetite for luxury residential properties is also expected to lead to higher project launches in the residential segment from the short to medium-term perspective.

In India, investment across various infrastructure projects has been rising consistently over the last few years. The current government, led by Narendra Modi, has emphasized the importance of infrastructure to drive economic growth. Under the Pradhan Mantri Gati Shakti scheme, more than 100 big-ticket infrastructure projects are being examined. The uptake in housing projects and private investment in the commercial construction market will also aid the growth of the construction industry in India over the next three to four years.

Global steel prices are likely to decline on the back of weak offtake in the Chinese construction market

Excessive supply and weaker consumption from the Chinese market mean that global steel prices will remain under pressure from the short-term perspective. This is also revealed in Goldman Sachs' report, which revealed that the slower recovery in the Chinese property market means that there will be a 5% drop in the steel demand, and as a result, Beijing might lower its production target. In the Asian market, India is expected to remain a bright spot when it comes to the steel demand. The higher spending on infrastructure projects, coupled with robust housing demand, will drive steel consumption in the Indian market.

This report provides data and trend analyses on Global construction industry, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 1,500+ charts and 1,200+ tables. It details market size & forecast, top cities construction data, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.

This report is a bundled offering, comprising 13 country reports. Each country report covers the following modules:

Market Dynamics by Value, Volume, and No. of Units: Provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in the building and infrastructure construction industry.
Residential Construction Outlook: Provides market analysis by type of construction, development stage, price point, and key cities. KPIs include value, volume and number of units.
Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, chemical & pharmaceutical buildings.
Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants, educational buildings.
Infrastructure Construction Outlook: Provides growth dynamics and market analysis by three key sections such as marine and inland, utility system and transport infrastructure construction.
City Level Analysis: Provides outlook of top 10 cities by construction value for each country.

Report Scope

This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2018-2027.

KPIs covered include the following:

Market size by value
Market size by volume of construction
Number of units
Economic Indicators
Top Cities Construction Data

Residential Building Construction Coverage:

Housing type (multi family, single family)
Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
Price point / income level (luxury, mid-tier, affordable)
Construction stage (new construction, re-development & maintenance)

Residential Green Building Construction Coverage:

Green building by Housing type (multi family, single family)
Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
Green building by Price point / income level (luxury, mid-tier, affordable)

Commercial Building Construction Coverage:

Office (further broken down by Grade A, Grade B, and Grade C)
Retail (further broken down by Grade A, Grade B, and Grade C)
Hospitality (further broken down by Grade A, Grade B, and Grade C)
Restaurant (further broken down by Grade A, Grade B, and Grade C)
Entertainment
Sports facility
Other commercial building construction
Construction stage (new construction, re-development & maintenance)

Commercial Green Building Construction Coverage:

Office green building construction
Retail green building construction
Hospitality green building construction
Restaurant green building construction
Entertainment green building construction
Sports facility green building construction
Other commercial green building construction
Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
Manufacturing Plants building construction
Chemical & Pharmaceutical building construction
Metal & Material Processing building construction
Construction stage (new construction, re-development & maintenance)

Institutional Building Construction Coverage:

Healthcare construction
Educational construction
Other building construction
Construction stage (new construction, re-development & maintenance)

Institutional Green Building Construction Coverage:

Healthcare green building construction
Educational green building construction

Infrastructure Construction Sectors:

Marine and inland water infrastructure
Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
Construction stage (new construction, re-development & maintenance)

Green Infrastructure Construction

Construction Cost Structure Analysis:

Cost Analysis by Type (Material, Labour, Equipment, Others)
By Material & Work Cost: It provides the cost outlook of material costs by type of materials used in construction (Cement, Steel, Sand, Aggregates, Bricks, Wood, Windows Glazing, Flooring, Plumbing, Electrical, Painting, Other Materials)
By Labour Cost: It provides the cost outlook of labour costs (RCC Construction Work, Masonry and Plastering Work, Plumbing Work, Water Proofing Work, Carpentry Work, Electrical Work, Tile Fixing Work, CATV Antenna Points, Painting Work, Departmental Labour)
By Type of Construction (New, Re-Development)
By Material Cost: It provides the cost outlook of material costs by type of materials used in construction (Concreting Sand, Stone Aggregate, Ordinary Portland Cement, Reinforced Concrete (Grade 30 MPA), Reinforced Concrete (Grade 40 MPA), High Tensile Steel bars, Mild Steel Round Bars, Structural Steelwork, Plywood Formwork (1800*900*12mm), Clay Bricks)
Type of Labour (Skilled Vs Unskilled)
Type of Labour (Skilled Vs Unskilled). In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of global building and infrastructure construction industry.
In-depth Understanding of Construction Cost: This report provides in depth analysis of construction costs by type of cost. It also provides data points by different material costs involved and different labour cost. This report further provides information by type of construction and Cost by type of worker.
Top Ten Cities Construction Value Data: Construction market size by key sectors at city level.
Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.

For more information about this report visit https://www.researchandmarkets.com/r/h8c94t

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