HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV

𝕏

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

Continue Reading

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.

Tags

Related Stories

| Nov 10, 2011

Skanska Moss to expand and renovate Greenville-Spartanburg International Airport

The multi-phase terminal improvement program consists of an overall expansion to the airport’s footprint and major renovations to the existing airport terminal.

| Apr 27, 2011

Massive LAX rehab to feature 18 gates for super-sized planes

| Mar 2, 2011

Cities of the sky

According to The Wall Street Journal, the Silk Road of the future—from Dubai to Chongqing to Honduras—is taking shape in urban developments based on airport hubs. Welcome to the world of the 'aerotropolis.'

| Feb 15, 2011

Iconic TWA terminal may reopen as a boutique hotel

The Port Authority of New York and New Jersey hopes to squeeze a hotel with about 150 rooms in the space between the old TWA terminal and the new JetBlue building. The old TWA terminal would serve as an entry to the hotel and hotel lobby, which would also contain restaurants and shops.

| Aug 11, 2010

JE Dunn, Balfour Beatty among country's biggest institutional building contractors, according to BD+C's Giants 300 report

A ranking of the Top 50 Institutional Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants

| Aug 11, 2010

Jacobs, Arup, AECOM top BD+C's ranking of the nation's 75 largest international design firms

A ranking of the Top 75 International Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants

| Aug 11, 2010

Clark Group, Mortenson among nation's busiest state/local government contractors, according to BD+C's Giants 300 report

A ranking of the Top 40 State/Local Government Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit /giants

| Aug 11, 2010

Jacobs, CH2M Hill, AECOM top BD+C's ranking of the 75 largest federal government design firms

A ranking of the Top 75 Federal Government Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants

| Aug 11, 2010

Jacobs, HOK top BD+C's ranking of the 75 largest state/local government design firms

A ranking of the Top 75 State/Local Government Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants

| Aug 11, 2010

Clark Group, Hensel Phelps among nation's largest federal government contractors, according to BD+C's Giants 300 report

A ranking of the Top 40 Federal Government Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants

Top Articles

MFPRO+ New Projects

BIG’s One High Line finally reaches completion in New York City’s West Chelsea neighborhood

Urban Planning

Bridging the gap: How early architect involvement can revolutionize a city’s capital improvement plans

Building Enclosure Systems

Winners of Building Envelope Innovation Prize focus on secondary glazing

More In Category

AEC Tech

How AI can augment the design visualization process

Blog author Tim Beecken, AIA, uses the design of an airport as a case-study for AI’s potential in design visualizations.

Airports

Portland opens $2 billion mass timber expansion and renovation to its international airport

This month, the Portland International Airport (PDX) main terminal expansion opened to passengers. Designed by ZGF for the Port of Portland, the 1 million-sf project doubles the capacity of PDX and enables the airport to welcome 35 million passengers per year by 2045.

Smart Buildings

A Swiss startup devises an intelligent photovoltaic façade that tracks and moves with the sun

Zurich Soft Robotics says Solskin can reduce building energy consumption by up to 80% while producing up to 40% more electricity than comparable façade systems.

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.

Most Popular Content