The global construction market size was valued at USD 12,633.9 billion in 2021 and is anticipated to expand at a CAGR of 6.2% during the forecast period, 2022–2030. The growth of the market is attributed to technological development and convenient infrastructure.
Construction includes maintenance, repairs, additions, and new work for organizations and sole traders. The construction market includes services such as subdividing land for sale as building sites and preparing sites for new enterprises. The construction of roadways is essential to the operation structures and services such as transportation and travelling. The construction division consists of renovating existing residential structures and specialized building equipment such as escalators, elevators, and service station equipment. The construction business gave rise to employment such as an interior designer, a construction manager, a contractor, and advisors. The design of the building should be convenient and appropriate for use, and financially possible to build. The financial structure must be sufficient to construct the design suggested by the client and to pay all legally owed amounts. The new surge of antibacterial construction provides protection against microbes and bacteria. Antibacterial technology is used for maintaining floors & carpets, wiring accessories, wall coverings, and door handles.
The COVID-19 pandemic negatively affected various industries, due to the social distancing norms and lockdown imposed by governments. The pandemic caused great damage to the value chain at all scale and levels. Many construction projects are cancelled and postponed, as lockdowns were imposed, which had a negative impact on small and medium businesses. People returned to workplace and businesses and adapted the hybrid working environment recently. Therefore, the need for commercial real estate sub-sector is increasing, as companies need convenient space for their employees.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing automation in public space is anticipated to drive the market during the forecast period.
- Rising investments in renewable energy infrastructure boost the market.
- Increasing awareness about antibacterial construction materials is expected to propel the market.
- Volatile prices of raw materials used in different types of construction is expected to hinder the market in the coming years.
- Construction involves working at heights and close contact with hazardous substances. Hence, labor safety and health issues are estimated to hinder the market expansion.
- Use of digital technology and autonomous construction vehicles are expected to create lucrative opportunities for key market players.
Scope of the Report
The report on the global construction market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Construction Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022–2030
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Segmentation
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Types (Land Planning & Development, Heavy & Civil Engineering Construction, Specialty Trade Contractors, and Building Construction), and End-users (Private and Public)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bechtel Corporation; AI Habtoor Group LLC; Larsen & Toubro Ltd.; PCL Construction Enterprises; Skanska Construction; and Balfour Beatty
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Market Segment Insights
Land planning & development segment to expand at a considerable CAGR
On the basis of types, the construction market is segmented into land planning & development, heavy & civil engineering construction, specialty trade contractors, and building construction. The land planning & development segment is projected to expand at a considerable CAGR during the forecast period, due to increasing awareness of optimal utilization of environmental guidelines for the construction projects and operations. The building construction segment is anticipated to account for a major market share during the forecast period, owing to rising per capita income in developing countries.

Public segment to hold a significant share of the market
In terms of end-users, the market is divided into private and public. The public segment is expected to hold a significant share of the market in the coming years, due to rapid urbanization in developing countries and increasing number of people looking for their own residential properties. The private segment accounts for a significant market share, owing to increasing technological investments in advanced commercial projects. In some developing economies, governments try to attract foreign direct investments for the private industry expansion.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the construction market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period, owing to the presence of key market players in the region. Growing population and construction projects in Asia Pacific is expected to boost the market in the coming years. The market in Europe is anticipated to expand at a rapid pace during the forecast period, due to increasing renovation and reconstruction of residential infrastructure.

Segments
The global construction market has been segmented on the basis of
Types
- Land Planning & Development
- Heavy & Civil Engineering Construction
- Specialty Trade Contractors
- Building Construction
End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Bechtel Corporation
- AI Habtoor Group LLC
- Larsen & Toubro Ltd.
- PCL Construction Enterprises
- Skanska Construction
- Balfour Beatty
Competitive Landscape
Key players competing in the global construction market are Bechtel Corporation; AI Habtoor Group LLC; Larsen & Toubro Ltd.; PCL Construction Enterprises; Skanska Construction; and Balfour Beatty.
Some prominent players in the market are implementing new technologies and procedures to increase their market revenue share. For instance,
- BioCote develops antibacterial construction materials, which have been shown to survive longer than their conventional counterparts. These materials also reduce the risk of cross contamination.
- TATA Projects Limited and Indian Hotels Company collaborated for the construction of Ginger hotel in Mumbai. It is constructed by an all-women engineering team over the course of 19 months. The construction process involves advanced technologies and techniques.
