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

| Aug 26, 2013

What you missed last week: Architecture billings up again; record year for hotel renovations; nation's most expensive real estate markets

BD+C's roundup of the top construction market news for the week of August 18 includes the latest architecture billings index from AIA and a BOMA study on the nation's most and least expensive commercial real estate markets. 

| Aug 22, 2013

Energy-efficient glazing technology [AIA Course]

This course discuses the latest technological advances in glazing, which make possible ever more efficient enclosures with ever greater glazed area.

| Aug 21, 2013

Why research is the ticket to successful airport wayfinding

Wayfinding is more than just signs; it requires a holistic approach based on communicating information that helps people make the right decision at the right time. 

| Aug 19, 2013

Discovery of hidden asbestos complicates DFW terminal renovations

The finding of more asbestos in Terminal B than expected, and the pending merger of US Airways and the airport’s largest tenant, American Airlines, is causing construction delays on a $2.3 billion Dallas/Fort Worth Airport terminal renovation.

| Aug 19, 2013

Integration of solar panels in building skin seen as key net-zero element

Recent high-profile projects, including stadiums in Brazil for the upcoming World Cup and Summer Olympics and a bank headquarters in the U.K., reflect an effort by designers to adopt building-integrated photovoltaics, or BIPV.

| Aug 14, 2013

Green Building Report [2013 Giants 300 Report]

Building Design+Construction's rankings of the nation's largest green design and construction firms. 

| Jul 29, 2013

2013 Giants 300 Report

The editors of Building Design+Construction magazine present the findings of the annual Giants 300 Report, which ranks the leading firms in the AEC industry.

| Jul 22, 2013

Transportation Facility Report [2013 Giants 300 Report]

Building Design+Construction's rankings of design and construction firms with the most revenue from airport terminals and other transportation-related facilities, as reported in the 2013 Giants 300 Report.

| Jul 19, 2013

Renovation, adaptive reuse stay strong, providing fertile ground for growth [2013 Giants 300 Report]

Increasingly, owners recognize that existing buildings represent a considerable resource in embodied energy, which can often be leveraged for lower front-end costs and a faster turnaround than new construction.

| Jul 18, 2013

Top Local Government Sector Construction Firms [2013 Giants 300 Report]

Turner, Clark Group, PCL top Building Design+Construction's 2013 ranking of the largest local government sector contractor and construction management firms in the U.S.

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