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Construction Market Size 2025-2029

The construction market size is forecast to increase by USD 1,288.3 billion at a CAGR of 5.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the rise in residential and commercial infrastructure projects worldwide. This trend is fueled by increasing urbanization, population growth, and economic development in various regions. One key trend is the increasing adoption of green buildings, which are in the Innovator's stage in some regions and the Early Majority in others, leading to varying adoption rates and penetration levels. Furthermore, the integration of Artificial Intelligence (AI) in the construction sector is revolutionizing the industry, enhancing productivity, efficiency, and safety. As the industry evolves, companies must navigate this obstacle by exploring cost-effective solutions, such as shared equipment ownership models or renting, to remain competitive.
To capitalize on the market's potential, businesses should focus on innovation, collaboration, and operational excellence, ensuring they deliver high-quality projects on time and within budget. By addressing these challenges and embracing the opportunities presented by the market, companies can effectively position themselves for long-term success. Another key driver is the integration of Artificial Intelligence (AI) in the construction sector, which is revolutionizing the industry by improving efficiency, reducing costs, and enhancing safety.

What will be the Size of the Construction Market during the forecast period?

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In the dynamic market, securing permissions for building projects remains a crucial aspect of the industry. Cold storage facilities, a niche segment, continue to gain traction in the hospitality and leisure sectors, driven by innovative technologies and consumer demand. Smart cities are at the forefront of integrating sustainability regulations into commercial buildings, leading to increased usage of eco-friendly construction materials and raw resources. Site preparation and worker safety regulations are under constant scrutiny, ensuring compliance and adherence to industry standards.
The retail sector is also embracing technology, with the integration of automation and smart systems becoming increasingly common. Innovative technologies continue to shape the construction landscape, from 3D printing to modular construction, streamlining processes and reducing costs. Regardless, the industry's focus on sustainability and safety regulations ensures a responsible and forward-thinking approach to construction projects. However, the high cost of construction machinery poses a substantial challenge for market participants.

How is this Construction Industry segmented?

The construction industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Buildings construction
  Heavy and civil engineering construction
  Land planning and development
  Specialty trade contractors


End-user

  Private sector
  Public sector


Product

  Traditional
  Sustainable


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK


  APAC

    China
    India
    Indonesia
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The buildings construction segment is estimated to witness significant growth during the forecast period. The market encompasses various sectors, with buildings construction being a prominent and evolving segment. This segment includes residential, commercial, and multifamily buildings, each contributing significantly to the market's growth. For instance, Egypt's ambitious project to develop a new administrative capital, the New Administrative Capital (NAC), is a notable example. Located approximately 45 kilometers east of Cairo, NAC is designed to alleviate overcrowding and pollution in the current capital. A key player in this transformation is the China State Construction Engineering Corporation (CSCEC), a Chinese state-owned enterprise. Meanwhile, smart cities are emerging as a significant trend in the construction industry.

Economic development and retail activities are integral to the market, with developers focusing on creating vibrant and sustainable communities. Civil engineering plays a crucial role in the development of infrastructure, including roads, bridges, and water supply systems. Climate change is a pressing concern, and the construction industry is responding by incorporating green and energy-efficient practices into their projects. Sustainability regulations are becoming increasi

In the first three quarters of 2022, the real gross domestic product of the construction sector in Hong Kong increased by *** percent compared to the previous year. According to the forecast, the city's GDP was projected to increase by *** to *** percent in 2023.

In 2024, global Construction market size was valued at $11.39 Tn, and it is expected to reach $16.11 Tn by 2030 with a CAGR of 5.5% from 2025 to 2030

The construction tech market is projected to witness significant growth from 2025 to 2035, driven by technological advancements, increasing demand for automation, and the integration of AI and IoT in construction processes. The market was valued at USD 7,000 million in 2025 and is expected to reach USD 30,000 million by 2035, reflecting a compound annual growth rate (CAGR) of 16.9% over the forecast period.

Metric	Value
Market Size (2025E)	USD 7,000 million
Market Value (2035F)	USD 30,000 million
CAGR (2025 to 2035)	16.9%

Country-wise Outlook - Construction Tech Market

Country	CAGR (2025 to 2035)
United States	16.8%

Country	CAGR (2025 to 2035)
United Kingdom	16.3%

Region	CAGR (2025 to 2035)
European Union	16.5%

Country	CAGR (2025 to 2035)
Japan	16.4%

Country	CAGR (2025 to 2035)
South Korea	16.6

Competitive Outlook

Company Name	Estimated Market Share (%)
Autodesk, Inc.	20-25%
Trimble Inc.	15-20%
Oracle Construction and Engineering	10-15%
Procore Technologies, Inc.	8-12%
Bentley Systems	5-10%
Other Tech Providers (Combined)	30-40%

The North America Construction Market report segments the industry into By Country (Canada, United States), By Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction, Energy and Utilities Construction), and By Construction Type (Additions, Demolition and New Constructions). Five-year historical trends and forecasts are included.

The China construction market, valued at $4.59 billion in 2025, is projected to experience robust growth, driven by significant investments in infrastructure development, urbanization, and energy transition initiatives. A Compound Annual Growth Rate (CAGR) of 5.07% from 2025 to 2033 indicates a substantial expansion, reaching an estimated market value exceeding $7 billion by 2033. Key growth drivers include government policies promoting sustainable development, rapid economic growth fueling demand for residential and commercial construction, and the ongoing expansion of transportation networks (high-speed rail, roads, and ports). The market is segmented across residential, commercial, industrial, infrastructure (transportation), and energy and utilities sectors, with infrastructure projects playing a dominant role, given the government's focus on modernization. Major players like China State Construction Engineering, China Communications Construction Company, and China Railway Group are leveraging their expertise and scale to capitalize on this growth. While challenges exist, including potential material price fluctuations and environmental regulations, the overall outlook remains positive, supported by sustained government investment and a burgeoning middle class driving housing demand. Despite the promising outlook, the market faces some restraints. These include potential labor shortages, the need for enhanced technological adoption to improve efficiency and sustainability, and managing the environmental impact of large-scale construction projects. Navigating these challenges will be crucial for continued growth. The increasing emphasis on sustainable construction practices presents both a challenge and an opportunity, requiring companies to invest in green technologies and eco-friendly building materials. This focus on sustainability will influence future growth and necessitate adaptation from market players. The ongoing geopolitical landscape and potential economic shifts could also influence the trajectory of this dynamic market in the coming years, requiring continuous monitoring and strategic adjustments by businesses operating within this sector. Recent developments include: December 2023: Recently, "Engineering News-Record" (ENR), one of the world's most authoritative academic journals in engineering and construction, announced the winners of the 2023 Global Best Projects Awards. I received awards for two projects. The Lamu Port Berth 1-3 Project was honored with the Award of Merit in the Airport and Port category, while the Peljesac Bridge and its access roads in Croatia received the Award of Merit in the Bridge and Tunnel category., July 2023: The Shaoxing Metro Line 2, constructed by CRCC, officially opened, marking the commencement of a new era of automated and driverless subway systems in Shaoxing. This 10.8-kilometer line, featuring nine stations, represents Shaoxing's inaugural automated and driverless subway and the second in Zhejiang Province. As a co-host city with the most events for the Asian Games, the inauguration of Line 2 will further boost the development of the "Commuting Circle" for the Hangzhou Asian Games, providing robust support for the successful hosting of the event.. Key drivers for this market are: Government Infrastructure Spending, Urbanization and Increasing Disposable Incomes. Potential restraints include: Oversupply in the Real Estate, Labor Shortages. Notable trends are: Increase in Output value of China Construction Industry.

The Portuguese construction market is estimated to be valued at €12.45 billion in 2025, with a projected CAGR of 2.68% during the forecast period of 2025-2033. This growth is attributed to various factors, including increased investment in infrastructure development, rising demand for affordable housing, and growing tourism sector. However, the market is expected to face some challenges, such as labor shortages, rising material costs, and environmental regulations. Key market segments include residential construction, which accounts for the largest share, followed by commercial, industrial, and infrastructure. Residential construction is expected to remain strong due to rising population and urbanization, while commercial construction is projected to benefit from increased investment in retail and hospitality sectors. Infrastructure development is also expected to drive growth, particularly in the areas of transportation, energy, and water management. Recent developments include: In the Portugal Construction Market, recent developments have showcased significant advancements and fluctuations. Major companies like Vinci and MotaEngil have been actively involved in various infrastructure projects, responding to the increasing demand for modernization and urban development. Efacec and Grupo Soares da Costa are capitalizing on renewable energy initiatives, aligning with Portugal's sustainability goals. MotaEngil has been in discussions regarding potential mergers that could enhance its market position, specifically focusing on expansion into international territories. While no formal announcements have been made regarding acquisitions pertaining to the companies of interest like Martifer or ACCIONA, industry speculation continues to circulate. Additionally, the market has seen considerable growth in valuation, driven by a surge in public-private partnerships and foreign investment. This growth trend reflects positively on major players such as Sacyr, Ferrovial, and Teixeira Duarte, contributing to a robust competitive landscape. As the industry adapts to trends and local policy changes, ongoing projects and financial health remain pivotal for these companies in navigating the ever-evolving construction landscape in Portugal.. Key drivers for this market are: Sustainable building materials demand, Smart construction technology adoption; Renovation of aging infrastructure; Renewable energy integration projects; Urbanization driving residential development. Potential restraints include: regulatory environment stability, economic recovery trends; sustainable building practices; labor market challenges; infrastructure investment growth.

The global residential construction market size reached approximately USD 4.92 Trillion in 2024. Further, the residential construction industry is further projected to grow at a CAGR of 5.00% between 2025-2034, reaching a value of USD 8.01 Trillion by 2034.

Kenya's Gross Domestic Product (GDP) growth rate in the construction sector grew by 3.8 percent in the third quarter of 2023. This represented a slight increase in the growth rate compared to the corresponding quarter in 2022, at 3.5 percent. Overall, the growth rate in this sector has followed a volatile trend.

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.

Residential Construction Market Outlook

The global residential construction market size was valued at $XX billion in 2023 and is projected to reach $XX billion by 2032, growing at a compound annual growth rate (CAGR) of XX% during the forecast period. This considerable growth is driven by several factors, including increasing urbanization, rising disposable incomes, and government initiatives focused on housing development. The expanding population, especially in emerging economies, and the growing trend toward nuclear families are also crucial drivers bolstering the market's growth.

One of the primary growth factors for the residential construction market is the rapid urbanization observed worldwide. As more people move from rural areas to urban centers in search of better employment opportunities and improved living standards, the demand for residential units in cities has skyrocketed. Urbanization not only increases the demand for new housing but also necessitates the renovation and upgrading of existing infrastructure to accommodate the growing population. Additionally, governments around the world are implementing policies and offering incentives to stimulate the housing sector, thus directly contributing to market growth.

Another significant driver is the rise in disposable incomes, especially in developing nations. Higher disposable incomes enable individuals and families to invest in better housing, resulting in increased demand for residential construction. Economic growth in various regions has led to a higher standard of living, with more people aspiring to own homes that offer enhanced comfort and amenities. This trend is complemented by the availability of favorable financing options and mortgage rates, which make home buying more accessible to a larger segment of the population.

Technological advancements in construction techniques and materials are also playing a pivotal role in the market's growth. Innovations such as prefabrication, 3D printing, and green building materials are not only making construction quicker and more cost-efficient but are also aligning with the growing demand for sustainable and energy-efficient homes. These technological improvements are attracting both homeowners and real estate developers, eager to reduce costs and enhance the quality of construction. Consequently, technology is evolving into a critical enabler of the marketÂ’s expansion.

Regionally, Asia Pacific is expected to dominate the residential construction market during the forecast period. Rapid economic development, substantial urban migration, and supportive governmental policies are driving the market in this region. Countries like China and India, with their massive populations and expanding middle classes, present immense opportunities for residential construction. However, North America and Europe are also experiencing steady growth, driven by urban renewal projects and an increasing focus on sustainable living spaces. The Middle East & Africa and Latin America, while smaller in market share, are anticipated to witness moderate growth fueled by urbanization and infrastructural investments.

Construction Spending plays a pivotal role in shaping the dynamics of the residential construction market. The allocation of funds towards building new homes and renovating existing structures directly influences the pace and scale of market growth. Governments and private investors are increasingly recognizing the importance of strategic construction spending to address housing shortages and improve living conditions. By channeling resources into construction projects, stakeholders can stimulate economic activity, create jobs, and enhance infrastructure. This financial commitment not only supports the development of new residential units but also ensures the modernization and sustainability of existing housing stock, aligning with broader urban development goals.

Type Analysis

The residential construction market can be segmented by type into single-family housing and multi-family housing. Single-family housing remains a dominant segment, driven by the growing preference for privacy and individual living spaces. This trend is particularly prominent in North America and Europe, where suburban living is highly popular. Single-family homes offer the luxury of private outdoor spaces, better control over living conditions, and more room for customization, making them highly desirable among homeowners. The financial incentives provided by g

The construction sector in Singapore grew by 4.5 percent in 2024. The growth rate of the construction sector had been decreasing since its recovery from the COVID-19 pandemic in 2021.

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Turkey Construction Market Size 2024-2028

The turkey construction market size is forecast to increase by USD 68.3 billion, at a CAGR of 5.96% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for real estate properties. This trend is fueled by both domestic and foreign investors seeking opportunities in Turkey's thriving economy. Another key driver is the government's focus on building earthquake-resilient structures, which is leading to increased investment in advanced construction technologies and materials. However, the market faces challenges as well. The rising cost of construction materials, particularly steel and cement, poses a significant obstacle for construction firms, potentially increasing project costs and impacting profitability. To capitalize on market opportunities and navigate these challenges effectively, companies must stay informed of the latest construction trends and technologies, while also exploring cost-effective solutions for sourcing construction materials. Additionally, collaborating with local partners and suppliers can help mitigate risks and ensure regulatory compliance, ultimately positioning firms for long-term success in Turkey's dynamic construction market.

What will be the size of the Turkey Construction Market during the forecast period?

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The construction industry in Turkey is experiencing dynamic changes, driven by various factors. Research indicates that maintenance and supervision are critical challenges, necessitating innovative solutions. Construction technology adoption, including data analytics and testing, is transforming project management and inspection processes. Building retrofit and adaptive reuse are gaining traction, contributing to the industry's future growth. Sustainable construction practices, green building design, and infrastructure maintenance are key trends, driven by policy and regulatory requirements. Specialty contracting and consulting services are essential for addressing complex projects. Construction economic outlook remains positive, with opportunities in general contracting, repair, and demolition. The industry's future hinges on workforce development, innovation, and compliance with regulations. Construction services, from project management to inspection, are evolving to meet these challenges and opportunities.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. SectorPrivatePublicEnd-userResidentialInfrastructureCommercialGeographyMiddle East and AfricaTurkey

By Sector Insights

The private segment is estimated to witness significant growth during the forecast period.

The Turkish construction market witnesses dynamic activity and trends, driven largely by the private sector. This segment plays a pivotal role in shaping the industry's landscape, offering various services and projects throughout the country. Employment generation and economic growth are significant outcomes of this sector's growth. High-rise buildings, a notable contribution, are increasingly popular in major cities like Istanbul, Ankara, and Izmir. Sustainable and energy-efficient practices, such as LEED certification and green building, are gaining traction in residential and commercial construction. Construction automation, project management, and digital transformation are key trends, with the adoption of construction management software, building information modeling, and robotics in construction. Real estate development, infrastructure projects, and industrial construction are other thriving sectors, with safety regulations, building codes, and quality control ensuring the highest standards. Construction audits, waste management, and recycling initiatives contribute to cost savings and sustainability. Construction financing, permits, and contracts are streamlined through innovative methods, enabling efficient and effective project execution. The market is characterized by continuous innovation, with precast concrete, structural steel, and 3D modeling being widely used. Skilled labor and workforce management are essential components of the industry, with quality assurance and safety regulations ensuring the delivery of top-notch projects. Infrastructure development, including bridge construction and highway construction, is ongoing, driving the demand for heavy equipment and construction machinery. Environmental regulations and sustainability are increasingly important, with the use of sustainable construction materials and a focus on energy efficiency. Construction risk

The India Data Center Construction Market report segments the industry into By Infrastructure (By Electrical Infrastructure, By Mechanical Infrastructure, and more.), By Electrical Infrastructure (Power Distribution Solution, and more.), By Mechanical Infrastructure (Cooling Systems, and more.), By Tier Type (Tier-I and-II, and more.), and By End User (Banking, Financial Services, and Insurance, and more.)

The Global Construction Services market size was USD 8248.9 billion in 2022. Construction Services Industry's Compound Annual Growth Rate will be 6.20% from 2023 to 2030. What are the Drivers Influencing the Growth of the Civil Construction Services Market?

Rise in Disposable Income to Provide Viable Market Output

The increase in disposable income is a key factor driving growth in the Global Civil Engineering Market. This market is expected to experience significant growth in the coming years due to the rise in disposable income and technological advancements within the construction industry. The growing urban population's need for accommodation is also fueling the demand for civil engineering services. Many market players are now prioritizing using green building materials, which are both eco-friendly and energy-efficient, contributing to the construction of sustainable structures.

HDR is extending its technical superiority by acquiring WRECO, a company with expertise in civil engineering, environmental compliance, geotechnical engineering, and water resources planning. WRECO is the second company from California that HDR has bought in 2021. In order to improve the company's multimodal transportation services, HDR hired WKE out of Santa Ana in June.

Increased public-private partnerships help improve infrastructure and stimulate the national economy and jobs in the economy. Now, the world has become a digitized civil engineering industry; along with digitalization, many new technologies have been introduced that will facilitate the growth of the global economy. Buzz needs to develop the civil engineers network and change the construction process. Increasing private financing and assistance for various construction projects will strengthen the private sector in the future.

The Factors are Restricting Growth of Civil Construction Services Market

Regulatory Complexities and Permitting Delays to Hinder Market Growth

Regulatory complexities and permitting delays are key restraints in the civil construction services market, impeding the smooth progression of projects. The construction industry is subject to a multitude of local, regional, and national regulations, codes, and permitting processes that govern various aspects of project planning, design, and execution. Navigating this intricate landscape can be challenging, as compliance requires meticulous attention to detail and a deep understanding of the evolving legal requirements. Additionally, obtaining necessary permits often involves lengthy approval processes, causing delays impacting project timelines and budgets. These delays increase operational costs and hinder construction companies' ability to meet deadlines and client expectations.

Impact Of COVID-19 on the Civil Construction Services Market

The global outbreak of COVID-19 has had a significant impact on the trade relations of major players in various industries worldwide. The growth of the global civil engineering industry, specifically in the structural design sector, can be largely attributed to increased investment and advancements in development projects. However, implementing lockdown measures in different countries has resulted in suspending development activities and halted infrastructure progress, particularly in emerging economies such as India, China, and other Southeast Asian nations.

Opportunity for Construction Services Market

Increase in infrastructure development is presenting key growth opportunity for the market. 

The Construction Services Market has been substantially growing and Increase in infrastructure development present key growth opportunity due to the contracts of new infrastructure projects, rising population and increasing jobs in both public and private sector. The urbanization and is leading to increasing new buildings and residential infrastructure. this growth has resulted in increasing requirement of comprehensive construction services and efficient management for the increasing demand. These factors result in increasing in deployment of construction services. The infrastructure projects like the airport expansions, Train junction development and other public infrastructure is creating additional need for Construction Services. These factors contribute significant for market development and present key market growth opportunity. Introduction of Construction Servic...

The Vietnamese construction industry, currently valued at $69.20 million (2025), exhibits robust growth potential, projected at a Compound Annual Growth Rate (CAGR) of 8.10% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, significant government investment in infrastructure projects, particularly within transportation (roads, railways, and airports), is creating substantial demand. Secondly, rapid urbanization and a burgeoning middle class are boosting residential construction, with a focus on both affordable housing and high-end developments. Thirdly, the increasing presence of foreign direct investment (FDI) in industrial sectors like manufacturing and technology is stimulating industrial construction activity. While challenges remain, such as potential labor shortages and material price fluctuations, the overall outlook remains positive. The industry's segmentation reveals a diverse landscape. Residential construction constitutes a significant portion of the market, driven by population growth and improved living standards. Commercial construction, encompassing office buildings, shopping malls, and hotels, is also experiencing considerable growth, reflecting Vietnam's economic expansion. Infrastructure development, particularly transportation, is a major contributor to overall market size, with ongoing large-scale projects across the country. Energy and utilities construction, encompassing power plants and renewable energy infrastructure, is also witnessing increased activity, driven by rising energy demand. Key players like Coteccons Construction JSC, Hoa Binh Construction Group JSC, and foreign entities such as Hyundai Engineering & Construction Co Ltd are actively shaping the market's competitive dynamics, driving innovation and efficiency. The regional distribution of projects reflects the nation's developmental priorities, with a strong focus on major cities and industrial hubs. Here's a report description incorporating your specifications. Note that website links for many Vietnamese construction companies are not readily available through standard search engines. I've included placeholders where links would typically go. Construction Industry in Vietnam: A Comprehensive Market Analysis (2019-2033) This comprehensive report provides an in-depth analysis of Vietnam's dynamic construction industry, forecasting market trends and growth opportunities from 2025 to 2033. Based on historical data (2019-2024) and a meticulous assessment of current market conditions, this report serves as an indispensable resource for investors, industry professionals, and anyone seeking to understand the complexities and potential of Vietnam's building sector. The study period covers 2019-2033, with 2025 serving as both the base year and estimated year. Recent developments include: November 2023: COFICO and joint venture partners TVC and Searefico opportunistically attended the Taking Over Singing Ceremony of The New Betalactam Factory that Meets Global GMP Standards for the Investor – DHG Pharmaceutical Joint Stock Company. The project is located at Tan Phu Thanh Industrial Park – Phase 1, Chau Thanh A district, Hau Giang province, with a total project area of about 6 hectares. It is expected that after completion and operation in 2024, the Betalactam factory will meet global GMP standards, requiring high technical specifications in the stages of design, construction, and finishing. This project holds particular significance for the plan to develop high-quality product lines and deliver numerous qualified product lines to replace imported drugs for consumers of DHG Pharma., October 2023: Song Da Corp JSC invested in the implementation of the 500kV circuit 3 line projects (from Quang Trach, Quang Binh, to Pho Noi, Hung Yen) at the Government Headquarters. Deputy Prime Minister Tran Hong Ha requested the Ministry of Industry and Trade to strictly adhere to the specific planning and critical paths (charts) of the project's implementation progress, in accordance with the Prime Minister's direction. According to a report by Vietnam Electricity Group (EVN), the 500 kV line circuit 3 (from Quang Trach, Quang Binh, to Pho Noi, Hung Yen) includes four component projects: Quang Trach - Quynh Luu, Quynh Luu - Thanh Hoa, Nam Dinh 1 - Thanh Hoa, and Nam Dinh 1 - Pho Noi.. Key drivers for this market are: Urbanization and population growth, Government policies and Foreign Investnents. Potential restraints include: Skilled Labor Shortage, Material Price Fluctuations. Notable trends are: Government plans to develop Infrastructure driving the Construction Market.

The global market size of Construction is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Construction Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Construction industry. The key insights of the report:
1.The report provides key statistics on the market status of the Construction manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Construction industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Construction Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Construction as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Construction market
* Product Type I
* Product Type II
* Product Type III

For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Application I
* Application II
* Application III

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

Nonresidential Building Construction Market Outlook

The global nonresidential building construction market is projected to reach a market size of approximately USD 3.5 trillion by 2032, growing from USD 2.2 trillion in 2023, with a compound annual growth rate (CAGR) of 5.1%. This growth is primarily driven by the rapid urbanization and industrialization across various regions, coupled with the increasing demand for infrastructure development. The burgeoning investments in commercial spaces, institutional buildings, and industrial facilities are further propelling the market dynamics. As countries continue to focus on enhancing their economic infrastructure, the demand for nonresidential construction projects remains robust, paving the way for market expansion over the forecast period.

A significant growth factor in the nonresidential building construction market is the surging demand for commercial spaces, including offices, retail outlets, and hospitality structures. As economies evolve and businesses expand, there is an essential requirement for state-of-the-art office complexes and retail spaces to accommodate growing workforces and consumer bases. This demand is particularly pronounced in emerging markets where urbanization is accelerating, and new business hubs are being developed. Moreover, the rise of e-commerce has further stimulated the need for logistical and distribution centers, driving additional growth in the commercial construction segment. The synergy between technological advancements and architectural innovation also continues to shape the market, with smart building solutions gaining prominence.

The institutional segment, encompassing educational and healthcare facilities, contributes significantly to the growth of the nonresidential building construction market. There is an increasing emphasis on improving educational infrastructure to support burgeoning student populations in both developed and developing nations. Additionally, the healthcare sector is witnessing substantial investment in the construction of hospitals, clinics, and research facilities to cater to the rising demand for healthcare services. This trend is driven by the aging global population, advancements in medical technology, and the need for specialized healthcare facilities. Governments and private entities alike are investing heavily in these projects to ensure the provision of high-quality education and healthcare services, thereby fueling the growth of the institutional construction segment.

Industrial growth is another critical driver of the nonresidential building construction market, as industries strive to enhance their production capabilities and operational efficiency. The construction of manufacturing plants, warehouses, and processing facilities is being prioritized to meet the increasing production demands across various sectors such as automotive, electronics, pharmaceuticals, and food and beverage. The move towards sustainable and green construction practices is also becoming more pronounced within the industrial sector, as companies seek to minimize their environmental impact while optimizing their operations. The adoption of advanced construction techniques and materials is further propelling the growth of industrial nonresidential construction projects, thereby contributing to the overall market expansion.

In terms of regional outlook, the Asia Pacific region is expected to dominate the nonresidential building construction market due to rapid urbanization and infrastructure development in countries such as China and India. These nations are investing heavily in commercial, institutional, and industrial projects to support their growing economies and accommodate expanding urban populations. North America and Europe also present substantial growth opportunities, driven by the need to upgrade existing infrastructure and embrace sustainable construction practices. Meanwhile, the Middle East & Africa are witnessing increased investments in large-scale construction projects, particularly in commercial and industrial sectors, as part of their economic diversification efforts. The diverse regional demands and developmental agendas play a pivotal role in shaping the market landscape across the globe.

In the context of the global construction market, the Philippines Construction sector is emerging as a significant contributor to regional growth, driven by the country's robust economic development and urbanization efforts. The Philippine government has been actively investing in infrastructure projects, including roads, br

Revisions triangles for monthly construction output indices in Great Britain.

Construction Spending Market Outlook

The global construction spending market size was valued at USD 11.2 trillion in 2023 and is projected to reach USD 20.3 trillion by 2032, registering a robust CAGR of 6.2% during the forecast period. The market growth is driven by rapid urbanization, increasing infrastructure development, and rising investments in residential and non-residential construction globally.

One of the primary growth factors for the construction spending market is the rapid urbanization across both developed and developing countries. As more people migrate to urban areas in search of better job opportunities and living standards, the demand for residential buildings, commercial spaces, and infrastructure such as roads and bridges increases significantly. This urban migration places immense pressure on existing infrastructure and drives the need for new construction projects, thereby fueling market growth. Additionally, government initiatives aimed at improving urban infrastructure and housing facilities further contribute to the surge in construction spending.

Technological advancements in construction methods and materials also play a crucial role in driving the market. Innovations such as Building Information Modeling (BIM), prefabricated construction, and the use of sustainable and energy-efficient materials have revolutionized the construction industry. These technologies not only enhance the efficiency and speed of construction projects but also reduce costs and environmental impact. As a result, construction companies are more inclined to invest in new projects, boosting overall construction spending. Furthermore, the integration of digital tools and automation in construction processes is expected to continue propelling market growth throughout the forecast period.

The increasing focus on sustainable and green construction practices is another significant factor contributing to the market's growth. With growing awareness about environmental issues and the need for sustainable development, both governments and private entities are prioritizing eco-friendly construction projects. The adoption of green building standards and certifications, such as LEED (Leadership in Energy and Environmental Design), encourages investment in energy-efficient and environmentally responsible construction. This trend is anticipated to drive substantial growth in the construction spending market, as more stakeholders recognize the long-term benefits of sustainable construction.

Regionally, the Asia Pacific region is expected to witness the highest growth in construction spending, driven by the rapid economic development and urbanization in countries like China, India, and Southeast Asian nations. Government initiatives to improve infrastructure, coupled with rising disposable incomes and population growth, are key factors fuelling the market in this region. North America and Europe are also significant contributors to the market, with substantial investments in both residential and non-residential construction projects. Moreover, the Middle East & Africa region is projected to experience considerable growth due to increasing infrastructure development and urbanization.

The residential construction sector is a cornerstone of the construction spending market, driven by the increasing demand for housing in urban areas. As cities expand and populations grow, the need for new residential developments becomes more pressing. This demand is not only for traditional housing but also for modern living spaces that incorporate smart technologies and sustainable practices. The integration of energy-efficient systems and eco-friendly materials in residential construction is becoming increasingly popular, as homeowners and developers alike seek to reduce environmental impact and enhance living standards. Furthermore, government policies promoting affordable housing and urban renewal projects are providing significant impetus to the residential construction sector, ensuring its continued growth and relevance in the broader construction market.

Type Analysis

The construction spending market by type is segmented into residential, non-residential, and infrastructure. The residential segment encompasses expenditures on housing projects such as single-family homes, multi-family residential buildings, and apartment complexes. This segment is driven by increasing urbanization, population growth, and government policies promoting affordable housing. The