PUBLISHER: MarketLine | PRODUCT CODE: 1310837
PUBLISHER: MarketLine | PRODUCT CODE: 1310837
Global Construction industry profile provides top-line qualitative and quantitative summary information including: Industry size (value 2018-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Industry.
The construction market is defined as the value of work put in place annually for both, residential and non-residential construction.
The non-residential construction market includes five key construction sectors: commercial & leisure, energy & utilities, industrial, infrastructure, and institutional.
The residential construction market is defined as the value of work put in place annually for residential buildings.
Market value is defined as the output value of construction activity in any given time period, including costs related to construction materials, equipment and services in new construction, refurbishment, repair and maintenance and demolition.
All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.
The global construction industry generated total revenues of $13,699.6 billion in 2022, representing a compound annual growth rate (CAGR) of 5.7% between 2017 and 2022.
The non-residential construction segment dominated the industry in 2022, with total revenues of $8,123.8 billion, equivalent to 59.3% of the industry's overall value.
Governments around the world are investing in infrastructure development. For instance, the US government 2021 launched a $1.2 trillion infrastructure plan, which is creating significant opportunities for the construction industry.