flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Report: Global construction market to reach $15 trillion by 2025

Report: Global construction market to reach $15 trillion by 2025

A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025.


By BD+C Staff | July 1, 2013
Wikipedia
A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025. The benchmark global study - the third in a series from Global Construction Perspectives and Oxford Economics - shows the meteoric growth, which outpaces that of global GDP, will be concentrated in three countries - China, the US and India.
 
“World construction markets are at a tipping point already with 52% of all construction activity in emerging markets today. We expect to see this increasing to 63% by 2025, with China and India contributing most to growth in emerging markets,” says Graham Robinson, Executive Director, Global Construction Perspectives.
 
China overtook the US to become the world’s largest construction market in 2010, and is expected to increase its global share from 18% today to 26% in 2025, despite an expected slowdown.
 
“China and India will need to build another 270 million new homes by 2025 - mostly affordable homes”, says Mike Betts from Global Construction Perspectives.
 
Significant opportunities have arisen for a new generation of ‘Asian Tigers’.  Indonesia, Vietnam and the Philippines are becoming increasingly attractive for export-oriented manufacturing and represent a $350 billion construction market growing at more than 6% annually.
 
“While China is the key market, it would be a mistake to ignore the transformations happening elsewhere in Asia, which will help boost construction in Asia Pacific” says Jeremy Leonard, Director of Industry Services at Oxford Economics.
 
India will overtake Japan as the third-largest construction market with annual growth averaging 7.4% annually in construction expected to exceed that of China.
 
The construction market in Western Europe is expected to be almost 5% smaller in 2025 than its pre-recession peak in 2007, whilst North America is forecast to be almost 40% larger.
 
“By 2050, there’ll be two billion additional city dwellers - sustainable urbanization will be a major construction challenge and the industry must strive to find innovative new products and solutions, to contribute to building better cities”, says Bruno Lafont, Chairman and Chief Executive of global building products Lafarge.
 
For more information: visit www.globalconstruction2025.com.

Related Stories

| Sep 22, 2014

4 keys to effective post-occupancy evaluations

Perkins+Will's Janice Barnes covers the four steps that designers should take to create POEs that provide design direction and measure design effectiveness.

| Sep 22, 2014

Sound selections: 12 great choices for ceilings and acoustical walls

From metal mesh panels to concealed-suspension ceilings, here's our roundup of the latest acoustical ceiling and wall products. 

| Sep 15, 2014

Ranked: Top international AEC firms [2014 Giants 300 Report]

Parsons Brinckerhoff, Gensler, and Jacobs top BD+C's rankings of U.S.-based design and construction firms with the most revenue from international projects, as reported in the 2014 Giants 300 Report.

| Sep 9, 2014

Using Facebook to transform workplace design

As part of our ongoing studies of how building design influences human behavior in today’s social media-driven world, HOK’s workplace strategists had an idea: Leverage the power of social media to collect data about how people feel about their workplaces and the type of spaces they need to succeed.

| Sep 8, 2014

First Look: Foster + Partners, Fernando Romero win competition for Mexico City's newest international airport

Designed to be the world’s most sustainable airport, the plan uses a single, compact terminal scheme in lieu of a cluster of buildings, offering shorter walking distances and fewer level changes, and eliminating the need for trains and tunnels. 

| Sep 3, 2014

New designation launched to streamline LEED review process

The LEED Proven Provider designation is designed to minimize the need for additional work during the project review process.

| Sep 2, 2014

Ranked: Top green building sector AEC firms [2014 Giants 300 Report]

AECOM, Gensler, and Turner top BD+C's rankings of the nation's largest green design and construction firms. 

| Sep 1, 2014

Ranked: Top federal government sector AEC firms [2014 Giants 300 Report]

Clark Group, Fluor, and HOK top BD+C's rankings of the nation's largest federal government design and construction firms, as reported in the 2014 Giants 300 Report. 

| Aug 19, 2014

HOK to acquire 360 Architecture

Expected to be finalized by the end of October, the acquisition of 360 Architecture will provide immediate benefits to both firms’ clients worldwide as HOK re-enters the sports and entertainment market.

| Aug 11, 2014

Air Terminal Sector Giants: Morphing TSA procedures shape terminal design [2014 Giants 300 Report]

The recent evolution of airport terminals has been prompted largely by different patterns of passenger behavior in a post-9/11 world, according to BD+C's 2014 Giants 300 Report.

boombox1
boombox2
native1

More In Category




Great Solutions

41 Great Solutions for architects, engineers, and contractors

AI ChatBots, ambient computing, floating MRIs, low-carbon cement, sunshine on demand, next-generation top-down construction. These and 35 other innovations make up our 2024 Great Solutions Report, which highlights fresh ideas and innovations from leading architecture, engineering, and construction firms.

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021