Unlocking the Market Potential: Global Construction Market Valued at USD 22,076.73 Billion in 2038, with a CAGR of 7.4%
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VANCOUVER, BC, CANADA, April 13, 2023 /EINPresswire.com/ -- Global construction market size reached USD 12,639.41 Billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period, according to latest analysis by Emergen Research. Rapid urbanization with increasing global population is expected to continue to drive construction market revenue growth to a significant extent during the forecast period. This steady revenue growth can be attributed to increasing population in Asia Pacific in countries such as India and China among others and rising need for residential and commercial infrastructure and projects. Growing demand for more environment-friendly homes with a lower carbon footprint along with open green spaces is expected to augment growth of the global construction market going forward. Rising awareness among investors regarding environmental protection is driving focus on construction materials and designs of homes that are more ecologically viable. Global construction market is growing rapidly with young working demography aspiring to own homes. Increasing government expenditure and investment to improve domestic infrastructure and for sustaining economic growth is driving growth of the construction market, especially in developing countries.
However, variable raw material cost across countries makes it difficult for construction companies to use standardized products in the same budget in different countries, which is a major factor expected to hamper construction market growth to some extent during the forecast period.
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Market Overview:
The report bifurcates the Construction market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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Competitive Terrain:
The global Construction industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Market Segmentations of the Construction Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Construction market on the basis of product, application, and region:
Leading Market Players Profiled in the Report:
China State Construction Engineering Co., Ltd., Al Habtoor Group LLC, Larsen & Toubro Ltd., Bauer Group Ltd., China Communications Construction Group Ltd., Skanska AB, Vinci SA, Actividades de Construcción Y Servicios SA, Bechtel Corporation, and Samsung C&T Corporation
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Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2018–2028)
Building Construction
Heavy and Civil Engineering Construction
Specialty Trade Contractors
Land Planning & Development
Building Outlook (Revenue, USD Billion; 2018–2028)
Residential Building
Non-residential Building
Construction Machinery Outlook (Revenue, USD Billion; 2018–2028)
Earth Moving Machinery
Material Handling Machinery
Concrete & Road Construction Machinery
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Regional Outlook:
North America (the U.S., Canada, Mexico)
Europe (the U.K., Germany, France, Italy)
Asia Pacific (India, China, Japan, Korea)
Latin America (Brazil, Argentina, Ecuador, Chile)
Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
Information found nowhere else
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Research Report on the Construction Market Addresses the Following Key Questions:
Who are the dominant players of the Construction market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Construction market?
What are the key growth drivers and restraining factors of the Construction market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Construction market and its key segments?
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