Construction Industry Overview
Growing as fast as before, and even faster
The global construction industry is one of the booming industries registering a year-on year growth above 7%. The industry will remain so with the continuation of the development process in developing countries such as China and India, where the migration of people from the rural to urban areas takes place . The construction industry as a whole is very important to the world economic growth. By 2022 the construction market is expected to account for 18% of the gross-world product (GWP), i.e. the global construction market is expected to grow to $18.8 trillion.
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). The revenues of entities that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market.
Construction Market Coverage
The Business Research Company covers 100 markets overall in the construction market providing global market numbers, market growth, market-specific drivers and restraints, trends, and other market specific information. The construction market is segmented in the following manner:
The building construction market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that construct buildings. Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market.
1.1.Residential Building Construction
1.2.Nonresidential Building Construction
2.Heavy and Civil Engineering Construction
The heavy and civil engineering construction market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that undertake heavy and civil engineering construction projects (e.g., highways and dams), and by specialty trade contractors, whose primary activity is the production of a specific component for such projects. The work performed may include new work, additions, alterations, or maintenance and repairs. The sales revenues earned from construction projects involving water resources (e.g., dredging and land drainage) and projects involving open space improvement (e.g., parks and trails) are included in this market. Establishments whose primary activity is the subdivision of land into individual building lots usually perform various additional site-improvement activities (e.g., road building and utility line installation) and their sales revenues are included in this market.
2.1.Utility System Construction
2.2.Highway, Street, And Bridge Construction
2.3.Other Heavy and Civil Engineering Construction
3.Specialty Trade Contractors
The specialty trade contractors market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that perform specific activities (e.g., pouring concrete, site preparation, plumbing, painting, and electrical work) involved in building construction or other activities that are similar for all types of construction, but that are not responsible for the entire project. The work performed may include new work, additions, alterations, maintenance, and repairs. The production work performed by establishments in this market is usually subcontracted from establishments of the general contractor type or for-sale builders, but especially in remodeling and repair construction work also may be done directly for the owner of the property. Specialty trade contractors usually perform most of their work at the construction site, although they may have shops where they perform prefabrication and other work. The sales revenues of establishments primarily engaged in preparing sites for new construction are also included in this market.
3.1.Foundation, Structure, And Building Exterior Contractors
3.2.Building Equipment Contractors
3.3.Building Finishing Contractors
3.4.Other Specialty Trade Contractors
4.Land Planning and Development
The land development market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that service land and subdivide real property into lots, for subsequent sale to builders. Servicing of land may include excavation work for installation of roads and utility lines.
4.1.Residential Land Planning and Development
4.2.Commercial and Institutional Land Planning and Development
4.3.Industrial Land Planning and Development
How Can We Help?
The Business Research Company`s Construction Market Research Practice provides marketing, planning and strategy departments with a wider range of market, business, customer and competitor intelligence services across different segments of the construction industry. The construction market research services and solutions The Business Research Company provides are as follows —
• Construction Market Sizing, Forecast and Trend Analysis
• Construction Market Competitor Analysis
• Construction Market Supply Chain Analysis
• Construction Market Customer Research
• Construction Market Partner or Distribution Research
• Construction Market Entry Strategy Research Study
• Construction Industry Analysis and Profiling
• Construction Market Regulations