flexiblefullpage -
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
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

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. 

Airports | Aug 31, 2015

Surveys gauge users’ satisfaction with airports

Several surveys gauge passenger satisfaction with airports, as flyers and airlines weigh in on technology, security, and renovations. 

Airports | Aug 31, 2015

Small and regional airports in a dogfight for survival

Small and regional airports are in a dogfight for survival. Airlines have either cut routes to non-hub markets, or don’t provide enough seating capacity to meet demand.

Airports | Aug 31, 2015

Airports expand rental car facilities to ease vehicular traffic at their terminals

AEC teams have found fertile ground in building or expanding consolidated rental car facilities, which are the No. 1 profit centers for most airports.

Airports | Aug 31, 2015

Experts discuss how airports can manage growth

In February 2015, engineering giant Arup conducted a “salon” in San Francisco on the future of aviation. This report provides an insight into their key findings.

Airports | Jul 28, 2015

Plans to make over New York’s aging LaGuardia Airport are revealed

The complete redesign, devised by a panel of experts, would unify terminals, relieve ground traffic congestion, and install state-of-the-art amenities. 

Airports | Jul 22, 2015

MUST SEE: JFK airport taps Gensler to design terminal for animals

Pets can enjoy luxurious spa and grooming services before being transported directly to their flight from the terminal.

Airports | Jul 1, 2015

FIRST LOOK: JetBlue opens sprawling green rooftop at JFK International Airport

The 4,046-sf rooftop includes landscaped green spaces, seating for 50 people, 400-sf children’s play area, and a 400-sf dog-walk area.

Sponsored | Airports | Jun 5, 2015

Exposed glulam framework offers quiet complement to Jackson Hole airport’s mountain backdrop

A three-phase expansion and renovation, which began in 2009, nearly doubled the size of the aviation hub; the only one located in a national park

Airports | Apr 21, 2015

Trends driving airport construction

Upgrades to aviation infrastructure have not kept pace with the increase in airport traffic or even at a level sufficient to accommodate the life cycle of our many dated terminal facilities. Until now.

boombox1 - default
boombox2 -
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