In the past several years, the global construction industry has grown steadily. The major factors contributing to this is population growth, healthy economies, lower unemployment rates in developed countries, and increased per capita income in countries that are making major strides in development. In the next several years, overall building and construction market size is expected to expand and with a compound annual growth rate of four-to-five percent. MarketResearch.com has closely monitored these developments over the last several years. We offer in-depth reports to our clients that provides superior analysis of building and construction market size with forecasts and anticipated growth challenges. Contact us to learn more about how our advanced analysis can work for you and provide you the critical insight that is necessary for making strategic decisions.
Building and Construction Market Size Varies by Region
Though the overall construction market is healthy and continued gains are expected in the near future, the pace is not consistent from country to country. As a general rule of thumb, economic development is a key indicator. Countries that have historically been considered undeveloped but are verging on breaking through that barrier are especially likely to see healthy growth in their building and construction market size. Similarly, countries that have a strong tourism sector demand new and upgraded infrastructure to meet visitor demand, and this trend is expected to continue into the near and distant future. Additionally:
· Emerging markets in countries that include India, Indonesia, and China along with developed countries such as Russia and the U.S. are expected to represent almost three-quarters of the global building and construction market size within the next five years.
· India and China will likely drive growth within the Asia-Pacific area in the near future.
· European countries such as Romania, Ireland, and Spain continue to enjoy a substantial boom in the building and construction market.
Sectors within the Building and Construction Market
When it comes to building and construction market size, the largest sectors are heavy construction companies, engineering firms, non-residential and residential builders, real-estate agents, and contractors. Some experts predict that in the near future, the market will be led by commercial construction projects, infrastructure needs, and private housing expansion. And within that group, it is commercial construction that is anticipated to outpace other sectors over the next five years. Reasons for this are several, primarily the economic growth that is being experienced by a few Middle East countries as well as China.
MarketResearch.com Offers In-Depth Analysis of Key Factors Affecting Market GrowthThe building and construction market size is affected in large part by key figures as identified in previous MarketResearch.com reports. Our data analysis takes into account factors that can impact growth and other concerns. Our market reports include critical data on product and market trends, pricing trends, resource availability, the competitive landscape, and many other points. For a complete analysis of the building and construction market size and forward trends, contact us to learn more.