Construction Market Synopsis

The global Construction Market was valued at USD 13.59 trillion in 2023 and is likely to reach USD 24.34 trillion by 2032, increasing at a CAGR of 6.69% from 2024 to 2032.

Construction is a general term that refers to the art and science of forming objects, systems or organizations. "Build" is a verb: to build, and a noun is construction: how something is built or the nature of its construction. Top property developers are planning launches of plots near to major cities as they look for to exploit a surge in request in this section amid the pandemic. Post-Covid, Indians have realized the require for greater spaces and, more vitally, open spaces.

• Normally plotted houses have more open and breathable spaces, compared to an apartment. Increase in populace is requesting more space for settlement, particularly in level 1 cities. To fulfil the request, development exercises have been expanded by both government bodies and private division companies. In India, government is additionally emphasizing on the advancement of rustic ranges. These are the key variables that have been fueling the development of the development advertise.
• The Construction Market Research Report provides a comprehensive overview of project types and construction activity in the country. It analyses the megaproject pipeline, focusing on development stages, actors, and pipelines of megaprojects in the pipeline. The market report further discusses the key sectors of the construction market and their growth drivers. In addition to detailing construction projects, our analysts have identified emerging trends and assessed key risks and opportunities that will affect the growth of the construction market in the coming years.
• The commercial real estate sub-sector is situated for development as individuals return to workplaces and businesses adjust to hybrid working courses of action. As more companies send their workers back to work, there's a continuous rise within the require for commercial office space. In Hyderabad, the plotted development has consistently created along the Outer Ring Road and is also developing along the major highways. As of now, the southern zone of Hyderabad witnesses' greatest footing for the residential land segment along the proposed Pharma City Passage and universal airport.
• The up-and-coming metro will upgrade the network of this portion with the central and western zones. Small scale markets such as Kothur, Shadnagar, and Maheshawaram have taken the lead in request for residential land in this zone. The rising intrigued in private plots in Hyderabad in visible within the development in arrive costs which have enrolled a 21 percent increment in costs after the widespread which is the most noteworthy compared to the top-8 cities is additionally driving the development market.

Construction Market Trend Analysis

Urbanization and Population Growth

• Urbanization and population development are pivotal forces driving the development market. As more individuals move from rustic regions to urban centers in look of way better employment openings, education, and healthcare, cities experience critical population increases. This urban movement requires the extension of private ranges to oblige the growing people. Thus, there's a surge within the request for modern housing developments, from affordable housing units to luxury flats. In parallel, the convergence of individuals into cities moreover boosts the require for commercial framework, such as office buildings, shopping centers, and entertainment facilities, to bolster financial exercises and progress quality of life.
• In addition, the strain on existing urban infrastructure due to population development prompts the improvement and updating of fundamental administrations such as transportation systems, water supply frameworks, and squander administration offices. Governments and private speculators are compelled to contribute intensely in framework ventures, counting the development of streets, bridges, open travel frameworks, and utilities, to upgrade urban living measures and guarantee maintainable city development. Also, instructive and healthcare offices must be expanded or recently developed to meet wants of the expanding populace, assist driving development movement.
• Overall, fast urbanization and population development make a nonstop and raising request for comprehensive construction projects. This energetic fill the development industry, empowering advancement, venture, and the advancement of new building advances to productively manage and back the growing urban landscape.

Opportunities

Development of Smart Cities

• The development of smart cities speaks to a transformative opportunity for the development market, driven by the integration of advanced innovations and economical hones. Smart cities point to improve the quality of urban life by utilizing computerized advances and intelligent plan to make more effective, feasible, and decent situations. This activity includes the development of smart framework, such as intelligent transportation systems that utilize real-time information to optimize activity stream, diminish clog, and progress open travel proficiency. Additionally, smart grids and vitality administration systems are created to guarantee the proficient conveyance and utilize of vitality, essentially bringing down the carbon impression of urban ranges.
• Energy-efficient buildings are a cornerstone of smart city ventures. These buildings utilize cutting-edge advances such as progressed separator, energy-efficient windows, and renewable vitality sources like solar panels. They are planned to play down vitality utilization and diminish nursery gas emanations. Additionally, smart buildings are prepared with computerized frameworks for lighting, heating, and cooling that alter based on inhabitancy and natural conditions, further improving vitality effectiveness. The development offers benefits from the expanded request for these high-tech, economical building arrangements, impelling development and growth within the industry.
• The integration of the Internet of Things (IoT) is another basic aspect of smart city improvement. IoT-enabled gadgets and sensors are implanted in different urban frameworks, permitting for nonstop observing and administration of city assets. For illustration, smart water administration frameworks can distinguish spills and optimize water usage, while smart squander administration frameworks can streamline waste collection routes based on real-time information. These innovations not as it were progress operational productivity but to give profitable information for urban planning and development.
• In substance, the thrust for smart cities makes endless openings for the development advertise by driving the request for progressed foundation, energy-efficient buildings, and IoT integration. This development not as it were fosters financial development but moreover advances economical urban development, making cities more versatile, adaptable, and superior prepared to meet the challenges of the future.

Market Segment Analysis:

Market Segmented based on Product, by Sector, by Category, by End-Use and region.

By Sector, Urban Is Expected to Dominate the Market During the Forecast Period 2024-2032

By Sector segmented in Urban and Rural

• The urban sector dominates the construction market basically due to a few interrelated variables. Urban areas involvement higher population densities, driving the require for extensive residential, commercial, and foundation improvement to oblige the developing populace. Cities are frequently economic centers, attracting businesses and investments that spur the development of office buildings, shopping centers, and mechanical offices.
• The accessibility of monetary assets and speculation opportunities is regularly more noteworthy in urban settings, empowering large-scale development ventures. Additionally, urban areas have more created infrastructure, including transportation and utilities, which supports and requires continuous development exercises. Government approaches and arranging activities moreover habitually prioritize urban improvement to cultivate financial development and move forward living guidelines, advance upgrading the dominance of urban segments within the construction market.

By End-Use, Private industry held the largest share

By End-Use segmented as Public and Private

•  The private division is primarily driven by market demand and financial opportunities. This segment incorporates private buildings, commercial properties, industrial facilities, and private infrastructure projects such as shopping malls, office complexes, production lines, and private streets. The request for these sorts of developments is closely tied to financial development, customer confidence, and investment climates.
• As economies expand, businesses and people contribute more in development ventures, driving to expanded action within the private sector. Private division projects tend to be more adaptable and can be executed speedier compared to public division ventures. Typically, since private companies can regularly bypass the long bureaucratic forms that open ventures require. As a result, private division ventures can react more quickly to advertise requests and changes, making the segment more energetic and predominant.
• The private segment is regularly at the cutting edge of receiving modern advances and innovative development strategies. This incorporates the use of advanced development techniques, sustainable building materials, and shrewd building advances. The drive for benefit and competitiveness pushes private companies to continually enhance, in this manner driving the advertise in terms of modern construction practices.

Market Regional Insights: 

Asia Pacific Region is Expected to Dominate the Market Over the Forecast Period

• The Asia-Pacific region, especially nations like China, India, and Southeast Asian countries, has experienced noteworthy urbanization and population development. This has driven to an expanded request for private, commercial, and infrastructure development to accommodate the burgeoning urban population. Many Asia-Pacific nations have seen vigorous financial development, which has fueled speculation in development ventures. China, for case, has been a worldwide pioneer in development movement due to its enormous financial improvement activities and speculation in framework.
• Governments within the Asia-Pacific locale have actualized large-scale foundation ventures to bolster financial development and move forward living guidelines. China’s Belt and Road Initiative (BRI) could be a prime illustration, including broad ventures in framework ventures over Asia and past. Additionally, India’s Smart Cities Mission points to create urban foundation and move forward the quality of life in various cities.
• The region's quick industrialization has impelled the development of fabricating offices, mechanical parks, and coordination’s centres. Nations like China and Vietnam have gotten to be major fabricating centers, requiring critical development movement to bolster mechanical development. The Asia-Pacific region has pulled in significant remote venture, advance boosting development action. Multinational organizations contribute in building production lines, workplaces, and commercial offices to tap into the developing markets and favourable economic conditions.

Market Top Key Players:

The top key companies in the Construction Market are:

• China State Construction Engineering Corporation (CSCEC) (China)
• China Railway Group Limited (China)
• China Railway Construction Corporation Limited (China)
• China Communications Construction Company (China)
• China Metallurgical Group Corporation (MCC) (China)
• Vinci SA (France)
• Bouygues Construction (France)
• Strabag SE (Austria)
• Hochtief AG (Germany)
• Skanska AB (Sweden)
• Obayashi Corporation (Japan)
• Kajima Corporation (Japan)
• Shimizu Corporation (Japan)
• Taisei Corporation (Japan)
• Samsung C&T Corporation (South Korea)
• Hyundai Engineering & Construction (South Korea)
• Larsen & Toubro Limited (L&T) (India)
• Balfour Beatty plc (United Kingdom)
• Laing O'Rourke (United Kingdom)
• Bechtel Corporation (United States)
• Fluor Corporation (United States)
• Kiewit Corporation (United States)
• Jacobs Engineering Group (United States)
• Turner Construction Company (United States)
• AECOM (United States)
• Tutor Perini Corporation (United States)
• PCL Construction Enterprises (Canada)
• EllisDon (Canada)
• Ferrovial S.A. (Spain)
• Acciona S.A. (Spain) and Other Major Players.

Key Industry Developments in the Market:

• In Nov 2023, TechnipFMC plc announced an agreement to sell the company's Measurement Solutions business to One Equity Partners for US$ 205 million in cash, subject to customary adjustments at the closing of the transaction. As part of the Surface Technologies segment, the Measurement Solutions business encompasses terminal management solutions and metering products and systems, and includes engineering and manufacturing locations in North America and Europe.
• In Oct 2023, STRABAG invested in the development and production of secure, sustainable, and affordable energy storage solutions. By joining forces with storage producer CMBlu Energy, STRABAG is planning to speed up the development of specific large energy storage projects through its support with construction and infrastructure. Combining the best storage technology with the best construction and infrastructure expertise opens up a tangible opportunity for industrial companies, municipal energy utilities, and grid operators to build large warehouses for electricity with Organic SolidFlow batteries in the upcoming years.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. CONSTRUCTION MARKET BY PRODUCT (2017-2030)
   1. CONSTRUCTION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HEAVY AND CIVIL ENGINEERING
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4.  GENERAL CONSTRUCTION
   5. COMMERCIAL
   6. INDUSTRIAL
7. CONSTRUCTION MARKET BY SECTOR (2017-2030)
   1. CONSTRUCTION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. URBAN
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. RURAL
8. CONSTRUCTION MARKET BY CATEGORY (2017-2030)
   1. CONSTRUCTION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. NEW
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. RENOVATION
9. CONSTRUCTION MARKET BY END-USER (2017-2030)
   1. CONSTRUCTION MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PRIVATE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. PUBLIC
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. CONSTRUCTION Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. CHINA STATE CONSTRUCTION ENGINEERING CORPORATION (CSCEC) (CHINA)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. CHINA RAILWAY GROUP LIMITED (CHINA)
    4. CHINA RAILWAY CONSTRUCTION CORPORATION LIMITED (CHINA)
    5. CHINA COMMUNICATIONS CONSTRUCTION COMPANY (CHINA)
    6. CHINA METALLURGICAL GROUP CORPORATION (MCC) (CHINA)
    7. VINCI SA (FRANCE)
    8. BOUYGUES CONSTRUCTION (FRANCE)
    9. STRABAG SE (AUSTRIA)
    10. HOCHTIEF AG (GERMANY)
    11. SKANSKA AB (SWEDEN)
    12. OBAYASHI CORPORATION (JAPAN)
    13. KAJIMA CORPORATION (JAPAN)
    14. SHIMIZU CORPORATION (JAPAN)
    15. TAISEI CORPORATION (JAPAN)
    16. SAMSUNG C&T CORPORATION (SOUTH KOREA)
    17. HYUNDAI ENGINEERING & CONSTRUCTION (SOUTH KOREA)
    18. LARSEN & TOUBRO LIMITED (L&T) (INDIA)
    19. BALFOUR BEATTY PLC (UNITED KINGDOM)
    20. LAING O'ROURKE (UNITED KINGDOM)
    21. BECHTEL CORPORATION (UNITED STATES)
    22. FLUOR CORPORATION (UNITED STATES)
    23. KIEWIT CORPORATION (UNITED STATES)
    24. JACOBS ENGINEERING GROUP (UNITED STATES)
    25. TURNER CONSTRUCTION COMPANY (UNITED STATES)
    26. AECOM (UNITED STATES)
    27. TUTOR PERINI CORPORATION (UNITED STATES)
    28. PCL CONSTRUCTION ENTERPRISES (CANADA)
    29. ELLISDON (CANADA)
    30. FERROVIAL S.A. (SPAIN)
    31. ACCIONA S.A. (SPAIN)
11. GLOBAL CONSTRUCTION MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Product
       4. Historic And Forecasted Market Size By Sector
       5. Historic And Forecasted Market Size By Category
       6. Historic And Forecasted Market Size By End-User
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies