TheBusinessResearchCompany’s Construction Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The construction market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that construct buildings or engineering projects (e.g., highways and utility systems). Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The construction market includes new work, additions, alterations, maintenance, and repairs.
Construction is the process of constructing a structure such as building, framework or model using various materials. Any construction project is made out of specific variations within a fixed framework of distinct stages – design, production and conversion of raw materials into manufactured products, and construction.
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The global construction market reached a value of nearly $12,558.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.3% since 2014, and is expected to grow at a CAGR of 10.6% to nearly $18,775.3 billion by 2022.
Growth in the historic period resulted from strong economic growth in emerging markets, low interest rates, and technological advances. Factors that negatively affected growth in the historic period were geo-political tensions that hampered construction activity globally.
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The present study exhibits the trends and market dynamics of the Construction market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
Opportunities – The top opportunities in the global construction market will arise in the buildings construction segment, which will gain $3,071.5 billion of global annual sales by 2022. The construction market size will gain the most in China at $1,178 billion. The top opportunities in the global buildings construction market will arise in the residential building construction segment, which will gain $1653.8 billion of global annual sales by 2022. The top opportunities in the global heavy and civil engineering construction market will arise in the utility system construction segment, which will gain $416.4 billion of global annual sales by 2022. The top opportunities in the global specialty trade contractors market will arise in the building equipment contractors segment, which will gain $836.8 billion of global annual sales by 2022. The top opportunities in the global land planning and development market will arise in the residential land planning and development segment, which will gain $69.3 billion of global annual sales by 2022.
Some of the major players involved in the Construction market are China State Construction Engineering Co. Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., Vinci S.A.
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