PUBLISHER: MarketLine | PRODUCT CODE: 1761660
PUBLISHER: MarketLine | PRODUCT CODE: 1761660
Global Construction industry profile provides top-line qualitative and quantitative summary information including: industry size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.
Construction market includes both residential and non-residential construction. Market value refers to the total output value of construction activity in a specific year. Construction output value is defined as the total value of construction activity in any given period, including costs related to all materials, equipment, and services used.
Residential construction refers to the process of building structures primarily intended for people to live in. The residential market includes demolition, new construction, refurbishment, and repair & maintenance. Non-residential construction refers to the process of building structures that are not intended for residential purposes. The non-residential segment includes commercial construction, energy and utilities construction, industrial construction, infrastructure construction, and institutional construction.
All market data and forecasts are based on nominal prices and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates. The USD values may show a declining trend for few countries such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global construction industry recorded revenues of $14,598 billion in 2024, representing a compound annual growth rate (CAGR) of 5.2% between 2019 and 2024.
The non-residential segment accounted for the industry's largest proportion in 2024, with total revenues of $9,322.1 billion, equivalent to 63.9% of the industry's overall value.
In 2024, the global construction industry recorded an annual growth of 3.3%. The growth is attributed to rising household consumption expenditure on housing, either through the development of new homes, renovations, or upgrades. According to the Organization for Economic Co-operation and Development (OECD), in 2024, the final household consumption expenditure on housing per household in the US and Mexico reached $33,318.7 and $9,534.3, respectively, up 4.3% and 11.8% annually.