Lucintel Estimates Global Construction Market to Reach $8,929 Billion in 2017

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Lucintel Estimates Global Construction Market to Reach $8,929 Billion in 2017

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Despite adverse economic conditions, the global construction industry witnessed growth during the past five years and the market is forecast to reach US $8,929 billion in 2017 with a CAGR of 7.3% over the next five years. The organization of major global events such as the 2014 FIFA World Cup, the 2016 Olympic Games in Brazil, the 2014 Winter Olympic Games, and 2018 FIFA World Cup in Russia are expected to provide impetus to the construction industry over the forecast period.

Lucintel, a leading global management consulting and market research firm, has analyzed the global construction industry and presents its findings in “Global Construction Industry 2012-2017: Trend, Profit, and Forecast Analysis.”

The construction industry consists of establishments primarily engaged in the construction of residential construction, commercial buildings, and infrastructural projects. The industry also includes additions, alterations, maintenance, and repairing activities. The industry is highly fragmented in terms of suppliers and buyers and highly dependent on consumer spending, interest rates, and government spending in different countries.

Lucintel’s research indicates that rising cost of material, financial crisis in developed regions and cancellation of large numbers of projects are some of the challenges but increase in urbanization and increase in public as well as private spending will drive the industry. APAC dominates this industry and is forecast to witness the highest growth over the next five years. The high GDP growth rate of APAC countries is also encouraging leading companies to invest in developing countries. Brazil, Russia, India, and China are expected to register robust growth and the infrastructure segment is anticipated to drive the industry with highest growth rate.

This study provides an overview of the global construction industry. The report tracks three industry segments for four regions – thus it tracks 12 segments of the global construction industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.

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