Global Construction Market Report 2022

Major companies in the market include China State Construction Engineering Corporation Ltd. ; China Railway Group Ltd. ; China Railway Construction Corporation Limited; China Communications Construction Co.

New York, December 29, 2021 (GLOBE NEWSWIRE) – announces the publication of the “Construction Global Market Report 2022” –
Ltd. Evergrande Group in China.

The global construction market is expected to grow from $ 13,570.90 billion in 2021 to $ 15,171.80 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 22,873.96 billion in 2026 at a CAGR of 10.8%.

The construction market includes sales of construction services and related goods by entities (organizations, sole proprietorships, and partnerships) that construct buildings or engineering projects (e.g., highways and utility systems) . Included in this market are establishments that prepare land for new construction and those that subdivide land for sale into building land. The construction market includes new work, additions, modifications, maintenance and repairs.

The different types of construction are building construction, heavy construction and civil engineering, specialist contractors, land use planning and development. Building construction includes the dismantling of existing structures, the construction of new structures, the addition of newer structures to existing structures and the required modifications to existing structures to match any recent additions.

The different sectors include the private and the public.

Asia-Pacific was the largest region in the construction market in 2021. North America was the second largest region in the construction market.

The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.

The increase in construction activity in emerging markets is expected to propel the growth of the construction market over the next few years. Emerging markets that saw robust construction activity included China, Brazil, India, Saudi Arabia and Indonesia.

For example, according to the National Bureau of Statistics, construction production contributed 25.9% of China’s GDP in 2020, up from 6.2% in 2019. This rapid growth in construction activity has contributed to the growth of the construction market.

Building construction companies are increasingly using green building techniques to construct energy efficient buildings and reduce construction costs. Green building refers to the practice of using sustainable building materials and construction processes to create energy efficient buildings with minimal environmental impact.

According to the World Green Building Trends Survey, around 60% of construction companies across the world were involved in green building projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies develop sustainable and efficient residential and commercial buildings. , and also offer a variety of benefits, from tax deductions to marketing opportunities.

Sustainable building materials such as natural paints and steel beams made from recycled materials are widely used in the UK. Other green building techniques such as cross ventilation for a more natural environment, green building software such as Construction Suite to ensure ecological compliance and Green Globe management tool is also used in the construction industry. construction.

For example, some large companies using green building techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps, and Holder Construction.

Construction costs have steadily increased due to the rise in material costs during the historical period. Companies in the sector experienced moderate profit growth as the prices of materials such as crude oil, a key component of asphalt, hit $ 41.96 per barrel in 2020, as softwood lumber rose. , a major component used for the construction of buildings, increased by 112% in February 2021. compared to 2020. As a result, high material prices negatively affected the construction market during the historical period.

Countries covered in the construction market report are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UNITED ARAB EMIRATES; UK; UNITED STATES; Venezuela; Vietnam

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