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 nine percent. From 2018, the size of the Turkish construction industry began to shrink and experienced seven percent degrowth in 2022.

The UK Construction Market Forecast Report Covers Industry Trends and is Segmented by Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure Construction, and Energy and Utility Construction) and by Key Regions (England, Northern Ireland, Scotland, and Wales). The Report Offers Market Sizes and Forecasts in Value (USD Billion) for all the Above Segments.

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US Commercial Construction Market Size 2025-2029

The us commercial construction market size is forecast to increase by USD 191 billion billion at a CAGR of 2.7% between 2024 and 2029.

The Commercial Construction Market in the US is experiencing significant growth driven by the increasing trend towards sustainable building practices and the emergence of smart cities. Green buildings, which incorporate energy-efficient designs and renewable energy sources, are gaining popularity due to their environmental benefits and cost savings over the long term. This trend is expected to continue as more businesses prioritize sustainability and energy efficiency in their operations. However, the market also faces challenges, most notably the lack of skilled labor in the construction industry. The industry's aging workforce and a decline in new entrants have created a labor shortage, leading to delays and increased costs for construction projects. To mitigate this challenge, companies are exploring innovative solutions such as modular construction and automation technologies to streamline processes and reduce reliance on manual labor. In , the US Commercial Construction Market presents significant opportunities for growth, particularly in the area of sustainable building practices and smart city development. However, companies must also address the challenge of the labor shortage by adopting new technologies and innovative construction methods to remain competitive and deliver projects on time and on budget. By staying informed of these trends and challenges, businesses can effectively capitalize on market opportunities and navigate challenges in the ever-evolving construction landscape.

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

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The commercial construction market in the US continues to exhibit activity, driven by the demand for new office buildings, retail spaces, outdoor leisure facilities, and mixed-use developments. Urbanization and infrastructure development programs are significant growth areas, fueling the need for renovation and retrofitting of existing structures, as well as urban regeneration projects. Energy-saving designs and water infrastructure are key trends, with a focus on reducing costs through efficient building materials and product lead times. The non-residential building market is experiencing cost escalation due to fluctuating material prices, particularly for building materials like lumber, and labor shortages, exacerbated by a shrinking labor force. Despite these challenges, investments in commercial construction remain strong, reflecting the market's ongoing importance to the US economy.

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 2025-2029, as well as historical data from 2019-2023 for the following segments. SectorPrivate constructionPublic constructionTypeBuildingOthersEnd-userOffice buildingsRetail spacesHotels and hospitalityHealthcare facilitiesOthersGeographyUS

By Sector Insights

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

The US commercial construction market encompasses the development of various structures, including office buildings, retail establishments, outdoor leisure facilities, and urban infrastructure projects. Notable initiatives in this sector include the construction of the El Paso VA Health Care Center in Fort Bliss, celebrated in August 2024, and the Skymark Reston Town Center, the tallest residential tower in the Capital Region, topped out in October 2023. These projects contribute to the expansion of the market, with a focus on mixed-use developments, infrastructure building, and energy-saving designs. However, challenges such as cost escalation due to fluctuating material prices, labor shortages, and infrastructure development programs require careful planning and management. Key areas of investment include public transportation, broadband internet, electric grid reconstruction, water infrastructure, and multifamily housing. Operational efficiency, service delivery, and safety are essential functional areas in the non-residential building market. Technological advancements in communication linkages, data and communication, and EV units are transforming the industry.

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The Private construction segment was valued at USD 1313.50 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advant

In 2023, the gross domestic product growth rate for the construction sector in Indonesia was estimated to be around five 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 0.8 percent.

The Report On the North American Construction Market is Segmented by Country (Canada and the United States), Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction, and Energy and Utilities Construction), and Construction Type (Additions and Demolition and New Construction). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The forecasted growth of the construction sector in Saudi Arabia for 2019 was about 7.7 percent. The construction market was undergoing a comeback after a period of economic volatility that followed the collapse of the Dubai real estate market.

The Report Covers US Commercial Building Construction Industry Statistics & Growth. The Market is Segmented by End User (Office Building Construction, Retail Construction, Hospitality Construction, Institutional Construction, and Others). The market size and forecasts are provided in terms of value (USD billion) for all the above segments.

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US Residential Construction Market Size 2025-2029

The residential construction market size in the US is forecast to increase by USD 242.9 million at a CAGR of 4.5% between 2024 and 2029.

The residential construction market is experiencing significant growth, driven by several key factors. Firstly, the increasing household formation rates in the US continue to fuel demand for new housing units. Secondly, there is a rising focus on sustainability in residential construction projects, with homebuilders increasingly adopting energy-efficient and eco-friendly building materials and practices.
However, the market also faces challenges, including a shortage of skilled labor for large-scale residential real estate projects, which can impact project timelines and budgets. These trends and challenges are shaping the future of the residential construction industry in the US.

What will be the US Residential Construction Market Size During the Forecast Period?

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The residential construction market is experiencing a significant shift as the affordable housing trend gains momentum. The Federal Reserve's decision to keep the federal funds rate low has contributed to a decrease in mortgage rates, making it an opportune time for home buyers to enter the market. However, the housing supply remains a concern, with construction spending in the residential investment sector showing only modest growth. The labor market's current state is another factor influencing the residential construction industry. With a low unemployment rate, there is a high demand for labor, leading to increased wages and, in turn, higher construction costs.
Inflation also poses a challenge, as it erodes the purchasing power of home buyers and builders alike. The economy's overall health plays a crucial role in the residential construction market's dynamics. A strong economy typically leads to increased demand for new homes, as evidenced by the double-digit growth in housing starts and building permits for single-family homes. However, a recession can lead to a significant decrease in construction activity, as seen in the cancellation rate of housing projects. The Federal Reserve's interest rate decisions, inflation, and the economy's health all impact the residential construction market. Affordable housing programs, such as housing choice vouchers and fair housing programs, play a vital role in ensuring access to housing for a broader population. The construction sectors must navigate these market dynamics to remain competitive and meet the demand for new homes.
The US residential construction market is seeing significant shifts, driven by various housing market trends. Sustainable homebuilding practices are gaining momentum, with a focus on energy-efficient homes and green building materials. Modular construction and prefab housing are becoming increasingly popular for their cost-effective and timely solutions. Urban redevelopment projects are revitalizing city areas, while suburban expansion is fueling demand for new homes. Affordable housing projects are crucial in addressing housing shortages, and real estate investment continues to thrive in these sectors. Smart home integration is also on the rise, with luxury home construction embracing high-tech features. The impact of mortgage rates, coupled with multifamily housing growth and home renovation demand, adds complexity to the market's dynamics.

How is this market segmented and which is the largest segment?

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

Product

  Apartments and condominiums
  Villas
  Other types


Type

  New construction
  Renovation


Application

  Single family
  Multi-family


Geography

  US

By Product Insights

The apartments and condominiums segment is estimated to witness significant growth during the forecast period.

The residential construction market in the US is experiencing growth in the apartment and condominium sectors, driven by shifting preferences and lifestyle choices. Urbanization is a significant factor fueling this trend, as more individuals opt for the conveniences and amenities offered in urban areas. As a result, developers are constructing modern, sustainable, and community-focused living spaces in the form of high-rise apartment buildings and condominium complexes. These structures cater to various demographics, including intergenerational groups and younger generations, reflecting diverse living circumstances. The labor economy and vaccination rates have also contributed to the continued activity in the residential sector, allowing for steady progress in construction projects. While the non-residential sector has faced challenges, the residential sector remains a vi

Explore the Construction Market trends! Covers key players, growth rate 5.7% CAGR, market size $21260.28 Billion, and forecasts to 2034. Get insights now!

Revisions triangles for monthly construction output indices in Great Britain.

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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 urbanization and housing in major cities such as Ankara and Afyonkarahisar. This trend is further fueled by the focus on improving urban infrastructure, including the expansion of airports. 
The economic prospects of the country are also contributing to the growth of the construction sector, as investments in education, healthcare, and enhancing quality of life become priorities. However, the rising cost of construction materials poses a challenge for market participants. Despite this, the market remains a promising area for investment, offering potential returns for businesses involved in residential and commercial projects.

Market Analysis

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Turkey construction market has been a significant contributor to the country's economic growth, with residential and commercial sectors playing pivotal roles. The industry's resilience is evident in its ability to adapt to various market conditions and global trends. The construction sector's linkages with other sectors, such as education, healthcare, and urban infrastructure development, are essential for improving the quality of life and enhancing the overall economic prospects of the country. In recent years, Turkey has shown a strong commitment to sustainable development, with renewable energy becoming an increasingly important focus. The Turkish government's efforts to reduce greenhouse gas emissions and adhere to the Organisation for Economic Co-operation and Development (OECD) standards have led to a rise in the adoption of renewable energy sources.
In addition, the Construction Industry Development Board of Turkey (CBRT) has been instrumental in promoting the use of green technologies and materials in the construction sector. The construction industry's impact on Turkey's Gross Domestic Product (GDP) is substantial. According to the OECD, the sector accounted for approximately 6% of Turkey's GDP in 2020. The sector's contribution to the economy is expected to continue, with the demand for housing and urban infrastructure projects remaining strong. Mortgage loans have been a crucial financing instrument for the residential sector. The availability of affordable mortgage loans has led to a rise in demand for housing, contributing to urbanization and population growth.

Market Segmentation

The Turkey construction 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.

Sector

  Private
  Public


End-user

  Residential
  Infrastructure
  Commercial


Geography

  Turkey

By Sector Insights

The private segment is estimated to witness significant growth during the forecast period.The private construction sector in Turkey plays a pivotal role in the country's development, particularly in urban areas such as Afyonkarahisar, Ankara, and Izmir. The private sector's impact extends beyond infrastructure, with a focus on residential housing and urbanization. This investment in housing and urban infrastructure enhances economic prospects, creating jobs and driving growth. Additionally, the private sector's involvement in education and healthcare projects improves the quality of life for Turkish citizens. The construction sector's continued expansion in Turkey is a testament to its importance in the country's overall economic growth.

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The private segment accounted for USD 125.60 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

The commercial sector has also seen significant investment, with a focus on modernizing and expanding existing infrastructure. The construction sector's macroeconomic stability is influenced by various factors, including inflation, materials cost, and labor cost. The sector's ability to manage these factors effectively is crucial for maintaining competitiveness and ensuring sustainable growth. The Turkish railway network is undergoing significant expansion, with the government investing heavily in modernizing and expanding the network. This investment is expected to boost economic growth by improving connectivity and reducing transportation costs. The construction sector's growth is not without challenges, however. Earthquakes pose a significant risk to the sector, with Turkey situated in a seismically active region.

Turkey construction market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companie

Chongqing is one of the four municipalities of China. The city of Chongqing is also one of the fastest growing cities in China with hundreds of skyscrapers in the downtown area. This statistic depicts the annual growth rate of value added from the construction sector at constant prices in Chongqing municipality from 2013 to 2023. In 2023, the value added from the construction sector in Chongqing increased by 8.4 percent compared to the previous year.

Graph and download economic data for 12-Month Moving Average of Unweighted Median Hourly Wage Growth: Industry: Construction and Mining (FRBATLWGT12MMUMHWGICM) from Dec 1997 to Feb 2025 about growth, moving average, 1-year, mining, average, construction, wages, median, industry, and USA.

Indian Construction Industry is segmented by Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction, and Energy and Utility Construction). The report offers market size and forecasts for the Indian construction market in value (USD billion) for all the above segments.

Malaysia Construction Market size was valued at USD 19.01 Billion in 2024 and is projected to reach USD 28.73 Billion by 2031, growing at a CAGR of 5.3 % from 2024 to 2031.

Malaysia Construction Market Drivers

Government Initiatives and Infrastructure Investment: The Malaysian government plays a pivotal role in the construction industry by funding major infrastructure projects. Programs such as the 12th Malaysia Plan (2021-2025) focus on large-scale public infrastructure improvements, targeting transportation networks, healthcare facilities, and affordable housing. The government’s investments in projects like the Mass Rapid Transit (MRT) and the Pan Borneo Highway reflect a strong commitment to modernizing the country’s infrastructure. Moreover, these projects aim to enhance connectivity, reduce urban congestion, and create job opportunities, leading to sustained construction growth.

Urbanization and Population Growth: Malaysia’s urbanization rate is increasing steadily, with more people moving to urban areas for employment and better living conditions. This demographic shift necessitates extensive infrastructure development, including residential buildings, commercial spaces, transportation networks, and utilities. The urbanization trend, coupled with a growing middle-class population, drives demand for high-rise buildings, housing developments, and recreational facilities, creating a favorable environment for construction activities across the country.

Foreign Direct Investment (FDI) and International Partnerships: Malaysia’s strategic location in Southeast Asia, along with its stable political climate, attracts significant foreign investment, especially in the construction and real estate sectors. Initiatives under the Belt and Road Initiative (BRI) have seen Chinese firms collaborate on large projects, bringing in capital and expertise. Additionally, policies promoting foreign ownership in certain property sectors have increased FDI, further energizing the construction industry. The presence of international players contributes to Malaysia’s economic development and facilitates the adoption of modern construction techniques and technologies.

Commercial building construction contractors have endured declines. Interest rate hikes plunged business sentiment, decreasing expansion projects and hindering new commercial construction. Also, the transition to remote and hybrid work environments has hampered demand for office building construction, with office rental vacancies reaching a 30-year high in the fourth quarter of 2024. Industry revenue has been declining at a CAGR of 0.2% over the past five years to total an estimated $40.0 billion in 2025, including an estimated gain of 1.5% in 2025 as interest rate cuts begin to encourage new construction. Contractors have managed to expand profit from lows in 2020 but surging wage costs have strained considerable profit growth. Some of the growth for commercial building construction contractors has been price-based because of rising material costs for commercial buildings. This trend has been particularly true with office building construction, which increased as a share of revenue despite square footage under construction being at its lowest point in twenty years in the fourth quarter of 2024. Still, growth in additions and improvements spending, particularly from hotels, restaurants and bars, have buoyed the performance of contractors. Also, new construction in markets like warehouses, indoor recreational buildings and retail and wholesale outlets has provided contractors with avenues for growth. Commercial building construction contractors will enjoy solid growth. Continued rate cuts through 2025 will incentivize new construction. One market that will greatly benefit contractors is new hotel construction. While other markets will improve, office building construction may lag as vacancy rates remain high and 90.0% of active office building construction is set to be complete in 2025. Contractors will struggle to expand profit as labour shortages persist and push up wage costs. Tariffs may hike construction material prices, particularly HVAC equipment, potentially disincentivizing downstream construction expenditures. Also, contractors will have to adapt to some evolving trends, like the increased use of modular construction and changing building codes to improve commercial building sustainability. Modular construction techniques will help contractors combat labour shortages and higher wage costs because they are less labour-intensive. Overall, industry revenue is forecast to expand at a CAGR of 1.9% to total an estimated $44.0 billion through the end of 2030.

The Chinese Construction Industry Report is Segmented by Sector (Residential, Commercial, Industrial, Infrastructure (transportation), Energy, and Utilities). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The Report Covers Oman's Construction Market Analysis & Companies. The Market is Segmented by Sector (Commercial, Residential, Industrial, Infrastructure (Transportation), and Energy and Utilities). The Report Offers Market Size and Forecasts for the Omani Construction Market in Value (USD) for all the Above Segments.

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%

TBRC construction market report includes buildings construction, heavy and civil engineering construction, specialty trade contractors