The Construction sector has expanded over the past five years; nonresidential construction activity has been particularly strong, and a surge in materials costs has driven up contractors' rates. Contractors in the sector construct buildings and engineer projects across a wide range of industries and applications, so construction sector revenue tends to correlate with broader macroeconomic conditions. Volatile interest rates, specifically, have impacted sector activity in recent years, with high rates having cooled residential construction activity since 2022. Sector revenue has risen at a CAGR of 4.1% to reach an expected $3.7 trillion in 2025, including an estimated increase of 1.5% in 2025 alone as recent interest rate cuts encourage investment. In recent years, contractors have benefited from easing supply chain issues, with the price of construction materials having slowly fallen from its May 2022 peak (though remaining well above pre-pandemic prices). This more predictable business environment has only had a limited positive effect on the average sector profit margin, however, as the construction sector's perennial labor shortage has kept wage costs high. In 2025, the second Trump administration's policies have disrupted this previously stabilizing business environment, with ever-shifting tariff policies making it harder to plan for the future. A mounting trade war has the potential to disrupt supply chains and drive up the cost of materials, while plans for mass deportations threaten to further limit the sector's labor pool. Still, potential interest rate cuts in the coming years stand to spur increased investment in construction activity. Contractors are set to continue to benefit from increasing commercial and infrastructure construction activity, aided by the 2021 Infrastructure Investment and Jobs Act, the 2022 CHIPS and Science Act and the 2022 Inflation Reduction Act. The Trump administration has looked to disrupt some of the funding included in these bills, particularly that which targets the previous administration's climate goals, however. Basic macroeconomic drivers, including population growth, will continue to expand the construction sector. Areas of the country with lower regulatory burdens, namely the Southeast, will continue to outpace the country as a whole in both construction activity and population growth. Overall, sector revenue is set to climb at a CAGR of 2.0% to reach $4.1 trillion in 2030.

As of 2023, the growth rate of the Turkish construction industry was realized nearly eight percent. The annual growth rate of the construction industry in Turkey followed an increasing trend until 2017 and peaked in the same year at **** percent. From 2018, the size of the Turkish construction industry began to shrink and experienced ***** percent degrowth in 2022.

Trillions are spent every year on the buildings, infrastructure, and industrial installations by the global construction sector. In 2015, China’s construction market reached *** trillion U.S. dollars, while North America’s construction sector had a market size of *** trillion U.S. dollars. The construction market in Asia is expected to account for almost half of global construction spending by 2020. Construction productivity However, in the past decades, the industry has lost a large amount in value due to low labor productivity. The productivity growth of the construction sector has been comparatively lower than that of the total global economy and the manufacturing industry. Low productivity may be attributable to several reasons, including a highly regulated industry and dependency on public sector demand. The difficulties of the market can bring poor project management and execution, a lack of skill, and inadequate design processes. There are known ways to overcome these barriers, however, it is difficult for individual entities, despite high revenues, to change a traditional system.

In the year ended March 2024, New Zealand's construction industry GDP declined by around 1.2 percent from the previous year. The industry's GDP has remained above 17 billion New Zealand dollars since 2020.

The Commercial Building Construction industry in Ohio is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments increased an annualized x.x% to x,xxx locations. Industry employment has increased an annualized x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x million.

Over the past five years, hotel construction has navigated a highly dynamic environment marked by shifting travel habits, pandemic disruptions and rising competition from alternative lodging platforms. When travel restrictions eased, pent-up demand for both leisure and business trips initially revitalized renovation activity and selective new hotel projects, particularly in urban destinations and regions benefiting from major events. However, a series of challenges—including high interest rates, persistent labor shortages and softening demand due to rising consumer debt—constrained broader industry growth. Additional headwinds from tighter government travel budgets and a highly competitive landscape shaped by peer-to-peer rental services further impacted the hotel construction spending. As a result, industry revenue is expected to decline at a CAGR of 0.8% to $23.8 billion over the five years to 2025, despite an increase of 3.7% in 2025 alone. Profit has experienced a gradual improvement as hotel construction companies pivoted from lower-margin repair and maintenance work toward higher-value renovations and select ground-up projects. While rising material and labor costs presented ongoing hurdles, builders have increasingly focused on innovative, tech-enabled and flexible designs to capture premium contracts and distinguish themselves in a crowded market. The shift back toward larger renovation and new-build projects, paired with discipline in project selection and investments in sustainability, has provided a lift to profit, even though volatility in input costs and cautious lender activity kept pressures on the bottom line. Looking to the next five years, forecasts indicate a phase of moderate recovery and growth for hotel construction. Economic resilience, employment gains and potentially lower interest rates are expected to support new development. High-profile sporting and entertainment events such as the FIFA World Cup and the Summer Olympics are poised to spark a boom in event-driven travel, giving rise to construction opportunities in major markets and tourist corridors. Sustainability and digital innovation will further shape new projects, helping hotels remain competitive against emerging alternatives in the accommodation space. As a result, industry revenue is forecasted to grow at a CAGR of 2.6% to $27.0 billion over the next five years.

Industry operators construct complete residential and non-residential buildings, either on their own account for sale, or on a fee or contract basis for external clients and property developers. Firms may outsource discrete segments of the construction phase to specialist tradespeople classified elsewhere, including electricians, mechanical engineers and scaffolders. Maintenance and repair solutions for residential and non-residential property also fall under the scope of the industry.

In 2018, the growth rate of the construction industry in the Philippines was about 15.9 percent. In that year, the GDP share of the construction industry to the total GDP was at 6.8 percent.

In 2024, the gross domestic product growth rate for the construction sector in Indonesia was estimated to be around ***** percent, indicating a sharp increase from the previous year. Due to the COVID-19 crisis, many infrastructure projects in 2020 in Indonesia had been on hold. A significant increase in growth was seen in 2021, but it slightly decreased in 2022 by about *** percent.

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Pakistan GDP: Industry: Construction: YoY data was reported at -7.145 % in Dec 2024. This records an increase from the previous number of -11.707 % for Sep 2024. Pakistan GDP: Industry: Construction: YoY data is updated quarterly, averaging -1.484 % from Sep 2016 (Median) to Dec 2024, with 34 observations. The data reached an all-time high of 41.553 % in Dec 2017 and a record low of -34.298 % in Mar 2019. Pakistan GDP: Industry: Construction: YoY data remains active status in CEIC and is reported by Pakistan Bureau of Statistics. The data is categorized under Global Database’s Pakistan – Table PK.A001: SNA08: 2015-16 Base: Gross Domestic Product: Growth Rate.

This table presents information about developments in domestic turnover of the construction industry (SIC 2008 section F). The data can be divided by a number of branches according to Statistics Netherlands' Standard Industrial Classification of all Economic Activities 2008 (SIC 2008) and by two size classes. The results are expressed in terms of indices with base year 2015. Changes on the same period in the previous year are also published. This table has been discontinued because a new table with an updated index year will take its place. Data available from: January 2005 until December 2024. Status of the figures: The figures of 2023 are provisional. Seeing as this table is being discontinued, these figues will not be made definitive. Changes as of March 22, 2024: None, this table has been discontinued. When will new figures be published? No longer applicable.

Heavy engineering contractors complete projects such as constructing oceanic navigational channels, beach dredging, mass transit support construction, tunnels, hydroelectric power plants and conservation development. Most of these projects are carried out by state and local governments independently or in conjunction with the federal government, so industry revenue tracks most closely with movements in public funding. Over the past five years, heavy engineering construction revenue has expanded at a CAGR of 5.2% to reach $49.2 billion in 2025, when revenue is set to climb 2.0%. While revenue has expanded, average industry profit has remained relatively level as contractors have been able to adjust to a surge in purchase and wage costs that occurred midway through the past five years. Industry revenue has recently benefited from growing federal funding, particularly as funding from the 2021 Infrastructure Investment and Jobs Act (IIJA) and the 2022 Inflation Reduction Act (IRA) has recently begun translating into shovels in the ground. These projects have included upgrades to the nation's ports, as supply chain issues earlier in the current period highlighted their issues. Growth has been countervailed by heightened interest rates, which have particularly served to discourage private sector heavy engineering construction projects, which account for a minority of the industry's revenue. Rate cuts, which began in 2024 and have continued into 2025, will benefit the industry. Moving forward, the industry will exhibit growth if federal funding and state investments remain steady. Already in 2025, however, the second Trump administration has moved to hamper spending on certain programs included in the IIJA and the IRA. A reduction in federal infrastructure spending would have a negative effect on industry revenue. Still, industry revenue is projected to rise at a CAGR of 1.7% to reach $53.5 billion in 2030. Continued interest rate cuts will benefit the industry, as will increased spending on conservation and development infrastructure and other infrastructure projects meant to deal with the growing impact of climate change.

The construction output price in the United Kingdom has reached an annual growth rate of two percent in September 2024. Construction costs have been increasing at a lower rate than in 2022 and 2023. The year-over-year growth rate reached over 10 percent in May and June of 2022. Public and private housing was the construction segment with the highest output price increase. How have material costs developed over the years? Several factors influence construction material costs, including supply and demand, regulatory requirements, and transportation logistics. Manufacturing efficiency and global trade policies also play a big part, along with economic factors like inflation and currency fluctuations. In June 2022, the price of construction materials for new houses in the UK were 53 percent higher than in 2015. What is the largest component of those costs? Labor costs are often one of the largest expenses in construction projects. That is due to the skilled nature of the work, which has a high demand for specialized trades. The construction sector's labor costs accounted for around 58 percent of the sector's earnings in the United Kingdom in 2023. In the past years, the size of labor costs as a share of the construction sector rose by more than three percentage points, indicating that labor costs have increased at a faster rate than the overall revenue of the industry.

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2015-2017 Taichung City Construction Industry Number of Enterprises and Capital Data

This table contains figures on the development of the domestic turnover of companies in the construction industry (excluding project development). The development is shown as a percentage change compared to the same period in the previous year and by means of index figures with 2015 as the base year. The data can be broken down by company size and branches according to the 2008 Standard Industrial Classification (SBI 2008). Data available from: 1st quarter 2005. Status of the figures: The figures for 2023 are provisional, earlier periods are final. Changes as of May 16, 2023: Figures for the 1st quarter of 2023 have been added and the figures for 2022 have been adjusted. When will new numbers come out? As a rule, Statistics Netherlands publishes the provisional results within six to eight weeks after the end of the reporting quarter. Up to 75 days after the end of a quarter, the provisional figures may change as a result of additional information from respondents. Thereafter, the figures do not change until, at the latest twelve months after the end of the year, the last additional information is processed. After that, all reporting quarters of that year are 'final'. Until then, the status 'provisional' will be maintained for the results. After publication of the final results, Statistics Netherlands only adjusts the results if major adjustments and/or corrections are necessary.

Divergent trends in the building and infrastructure sectors have constrained the Construction division’s performance through the end of 2024-25, with revenue expected to drop by an annualised 1.2% to $521.2 billion. Rollercoaster-like trends in the residential building market and pandemic-related supply chain disruptions have constrained the performance of homebuilders and many special construction service industries. Still, favourable trends in non-residential building construction and non-building infrastructure construction generate buoyant conditions for some Construction division segments. New house construction surged to a record peak in 2021-22, supported by the Federal Government’s HomeBuilder stimulus and record-low interest rates. Still, new house construction has plunged in recent years following the hike in mortgage interest rates as the RBA seeks to quell inflation. Many small homebuilders have hit the wall in response to intense competition, escalating input costs and plunging profit margins. Conversely, the construction of multi-unit apartments and townhouses has gradually recovered from the deep trough in 2021-22 as investors return to address the severe rental shortages in the face of mounting population pressures. Divisional revenue contracted with the 2023-24 housing slump and is expected to sink 3.2% in 2024-25. Some large prime and specialist trade contractors have derived substantial stimulus from constructing landmark road and rail developments, including the WestConnex motorway in Sydney and the Cross River Rail in Brisbane. Similarly, conditions have been strong for contractors working on non-residential building projects, particularly accelerated growth in the construction of industrial warehouses and distribution facilities. Favourable trends in the residential building market are forecast to underpin modest growth in Construction division revenue at an annualised 1.2% over the five years through 2029-30 to $554.0 billion. Many prime building and special construction contractors will benefit from an upswing in demand for constructing multi-unit dwellings and, to a lesser extent, single-unit housing and home renovations. The housing market will benefit from the initiatives under the National Housing Accord. Construction activity will remain stable in the non-residential market. At the same time, the principal constraint on the Construction division will come from the staged completion of several landmark road and rail projects.

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The value of construction works in Russia increased by almost ***** percent in 2023 compared to the previous year. During the evaluated period, the highest growth rate was recorded in that year. The lowest mark was measured at negative *** percent in 2015.