flexiblefullpage -

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

Menu View Full Menu
Subscribe Here
billboard - default
interstitial1 - interstitial
catfish1 - bottom
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

Giants 400 | Jan 29, 2016

AIRPORT TERMINAL GIANTS: KPF, Jacobs, Hensel Phelps among top airport sector AEC firms

BD+C's rankings of the nation's largest airport sector design and construction firms, as reported in the 2015 Giants 300 Report 

Hamad International Airport, Doha, Qatar. Courtesy GKD USA 6 ways to use metal screens and mesh for best effect
Metals | Jan 19, 2016

6 ways to use metal screens and mesh for best effect

From airy façades to wire mesh ceilings to screening walls, these projects show off the design possibilities with metal.

Invasive probes, including test cuts of existing EIFS cladding, can uncover hidd
| Jan 14, 2016

How to succeed with EIFS: exterior insulation and finish systems

This AIA CES Discovery course discusses the six elements of an EIFS wall assembly; common EIFS failures and how to prevent them; and EIFS and sustainability.

Skybridge connects a terminal and airport on each side of the U.S.-Mexico border
Airports | Dec 13, 2015

Skybridge connects a terminal and airport on each side of the U.S.-Mexico border

Cross Border Xpress is the first phase of a larger development that will include hotels and offices.  

National Fire Protection Association drops ban on glass boarding bridges
Airports | Dec 4, 2015

National Fire Protection Association drops ban on glass boarding bridges

U.S. airports can now use more aesthetically pleasing building-to-plane links.  

HOK designs new terminal for Salt Lake City International Airport
Airports | Oct 30, 2015

HOK designs new terminal for Salt Lake City International Airport

The $1.8 billion building will have floor-to-ceiling windows, a spacious central "Canyon," and energy-efficient systems. It will open in 2020.

Airports | Oct 5, 2015

Perkins+Will selected to design Istanbul’s 'Airport City'

The mixed-use development will be adjacent to the Istanbul New Airport, which is currently under construction.

Takeoff! 5 ways high-flyin' airports are designing for rapid growth
Airports | Sep 30, 2015

Takeoff! 5 ways high-flyin' airports are designing for rapid growth

Nimble designs, and technology that humanizes the passenger experience, are letting airports concentrate on providing service and generating revenue.

JFK Airport's dormant TWA terminal will be reborn as a hotel
Airports | Sep 23, 2015

JFK Airport's dormant TWA terminal will be reborn as a hotel

After 15 years of disuse, the Googie architecture-inspired TWA Flight Center at New York’s John F. Kennedy International Airport will be transformed into a hotel. Gizmodo reports that the city’s Port Authority chose a renovation proposal from Jet Blue this week.

AIRPORT SECTOR GIANTS: KPF, Hensel Phelps, Jacobs top rankings of nation's largest airport terminal sector AEC firms
Giants 400 | Sep 17, 2015

AIRPORT SECTOR GIANTS: KPF, Hensel Phelps, Jacobs top rankings of nation's largest airport terminal sector AEC firms

BD+C's rankings of the nation's largest airport terminal sector design and construction firms, as reported in the 2015 Giants 300 Report. 

boombox1 - default
boombox2 -

Top Articles

native1 -

More In Category

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