flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Report: Global construction market to reach $15 trillion by 2025

Report: Global construction market to reach $15 trillion by 2025

A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025.


By BD+C Staff | July 1, 2013
Wikipedia
A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025. The benchmark global study - the third in a series from Global Construction Perspectives and Oxford Economics - shows the meteoric growth, which outpaces that of global GDP, will be concentrated in three countries - China, the US and India.
 
“World construction markets are at a tipping point already with 52% of all construction activity in emerging markets today. We expect to see this increasing to 63% by 2025, with China and India contributing most to growth in emerging markets,” says Graham Robinson, Executive Director, Global Construction Perspectives.
 
China overtook the US to become the world’s largest construction market in 2010, and is expected to increase its global share from 18% today to 26% in 2025, despite an expected slowdown.
 
“China and India will need to build another 270 million new homes by 2025 - mostly affordable homes”, says Mike Betts from Global Construction Perspectives.
 
Significant opportunities have arisen for a new generation of ‘Asian Tigers’.  Indonesia, Vietnam and the Philippines are becoming increasingly attractive for export-oriented manufacturing and represent a $350 billion construction market growing at more than 6% annually.
 
“While China is the key market, it would be a mistake to ignore the transformations happening elsewhere in Asia, which will help boost construction in Asia Pacific” says Jeremy Leonard, Director of Industry Services at Oxford Economics.
 
India will overtake Japan as the third-largest construction market with annual growth averaging 7.4% annually in construction expected to exceed that of China.
 
The construction market in Western Europe is expected to be almost 5% smaller in 2025 than its pre-recession peak in 2007, whilst North America is forecast to be almost 40% larger.
 
“By 2050, there’ll be two billion additional city dwellers - sustainable urbanization will be a major construction challenge and the industry must strive to find innovative new products and solutions, to contribute to building better cities”, says Bruno Lafont, Chairman and Chief Executive of global building products Lafarge.
 
For more information: visit www.globalconstruction2025.com.

Related Stories

Airports | Apr 21, 2015

Trends driving airport construction

Upgrades to aviation infrastructure have not kept pace with the increase in airport traffic or even at a level sufficient to accommodate the life cycle of our many dated terminal facilities. Until now.

Airports | Feb 6, 2015

Zaha Hadid-designed terminal in Beijing will be world’s largest

The terminal will accommodate 45 million passengers per year, and will be a hub for both air and rail travel.

| Jan 2, 2015

Construction put in place enjoyed healthy gains in 2014

Construction consultant FMI foresees—with some caveats—continuing growth in the office, lodging, and manufacturing sectors. But funding uncertainties raise red flags in education and healthcare.

BIM and Information Technology | Dec 28, 2014

The Big Data revolution: How data-driven design is transforming project planning

There are literally hundreds of applications for deep analytics in planning and design projects, not to mention the many benefits for construction teams, building owners, and facility managers. We profile some early successful applications.  

| Dec 28, 2014

AIA course: Enhancing interior comfort while improving overall building efficacy

Providing more comfortable conditions to building occupants has become a top priority in today’s interior designs. This course is worth 1.0 AIA LU/HSW.

| Dec 28, 2014

The future of airport terminal design: destination status, five-star amenities, stress-free travel

Taking a cue from the hospitality industry, airport executives are seeking to make their facilities feel more like destinations, writes HOK's Richard Gammon.

| Dec 15, 2014

HOK-designed Anaheim Regional transit hub opens, expected to serve three million per year

ARTIC’s flexible design ensures that it can serve as a southern terminus for California’s future high-speed rail system.

| Dec 8, 2014

Moshe Safdie wants to reinvent airports with Jewel Changi Airport addition

A new addition to Singapore's Changi Airport, designed by Moshe Safdie, will feature a waterfall and extensive indoor gardens.

| Nov 19, 2014

The evolution of airport design and construction [infographic]

Safety, consumer demand, and the new economics of flight are three of the major factors shaping how airlines and airport officials are approaching the need for upgrades and renovations, writes Skanska USA's MacAdam Glinn.

| Nov 18, 2014

Grimshaw releases newest designs for world’s largest airport

The airport is expected to serve 90 million passengers a year on the opening of the first phase, and more than 150 million annually after project completion in 2018. 

boombox1
boombox2
native1

More In Category

Airports

SOM unveils ‘branching’ structural design for new Satellite Concourse 1 at O’Hare Airport

The Chicago Department of Aviation has revealed the design for Satellite Concourse 1 at O’Hare International Airport, one of the nation’s business airports. Designed by Skidmore, Owings & Merrill (SOM), with Ross Barney Architects, Juan Gabriel Moreno Architects (JGMA), and Arup, the concourse will be the first new building in the Terminal Area Program, the largest concourse area expansion and revitalization in the airport’s almost seven-decade history. 




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021