"Construction Market" by page No. Learn more about how Statista can support your business. See how we connect, collaborate, and drive impact across various locations. Houston 154,290. This may not seem like a lot, but when you consider the fact that there are 69 industries in the U.S. you can understand why that number is a good number. Construction Worker Salary By State: Highest-Paid Construction Workers by State [2023] Research Summary. The top three markets are New York City, Dallas and Washington, D.C. They took a big financial hit from the pandemic - more than most companies. ", Next Move Strategy Consulting, Size of the global construction market from 2020 to 2021, with forecasts from 2022 to 2030 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/1290105/global-construction-market-size-with-forecasts/ (last visited July 25, 2023), Size of the global construction market from 2020 to 2021, with forecasts from 2022 to 2030 (in trillion U.S. dollars) [Graph], Next Move Strategy Consulting, July 11, 2022. While the demographics of the construction industry are interesting, they're not surprising. In conclusion, the Global Construction market shows tremendous growth potential in the forecast period, with North America and Europe playing pivotal roles. , What is the construction industry forecast for 2023? (Video) 95+ REPTILES & AMPHIBIANS!! Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client. China State Construction Engineering Corp Ltd, China Railway Group Ltd, China Railway Construction Corp Ltd, China Communications Construction Co Ltd, and Metallurgical Corporation of China Ltd are the top 5 construction companies in the world in 2021 by revenue. 84 Employees . International revenue of leading construction firms | Statista Q.10. There are some that really need serious attention. The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. The Global Construction market is poised for significant growth between 2022 and 2030, with a positive outlook for 2022 and beyond. Construction represents 13 percent of the world's GDP today. Global Construction Futures provides forecasts for the global construction industry and forecasts for all major construction markets globally to 2037. Introduction of the Global Construction Aggregate Market, 3. Additionally, a PESTEL analysis highlights the significant influencers and entry barriers within the industry. This industry benefits from the fact that the German government has been making progressive investments over time and focusing on modernizing their industry rather than ignoring the investments until some future date. Geographically, the largest construction companies are headquartered in China (41% of total revenue), Europe (26%), Japan (13%), USA (9%) and South Korea (7%). Basic Info. 98 | End User [, Residential, Commercial, Non-Residential], Types [, Housing and Civil Engineering and Bridge Engineering Construction, Construction and Installation Industry, Architectural Decoration Industry, Other Construction Industry], Region and Gain valuable insights from this Exclusive Data Report, Exploratory, Descriptive, Causal Research which provides qualitative and quantitative perspectives on SWOT and PESTLE analysis. Good news for the near future, but the outlook for 2024 is less optimistic, with slowing spending expected across the board except for educational construction. , What is the 1 construction company in the United States? The U.S. construction spending totaled $1.3 trillion in 2019. Civil Engineering Market Size & Growth Report, 2030 - Grand View Research , What is the highest impact factor journal 2022? Real-world client stories of purpose and impact, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Report. Between history and modernity: marble as a symbol of beauty and NEOMs The Line documentary: Architects reveal thoughts in 45-minute show, Saudi Mining Investment Law aims to address investor concerns. The third is that women simply aren't settling for less. , What state makes the most money in construction? The industry is almost untouchable. VINCI ranked third in 2020, up one position in the list from 2019. It is computed in the year 2022 as per its definition and based on Scopus data. Global Life & Health Insurance Carriers. What are some of the most promising, high-growth opportunities for global construction industry? 1. This means the future of construction is looking bright. , What are the biggest construction trends 2022? Find your next projectand the ones after that. The future of the global construction . This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages. The industry has an estimated CAGR of 7.4% over the next few years. In fact, the construction industry has the third highest rate of fatalities in the world. The company is headquartered in Baltimore, MD. dollars)." , Will there be a strong demand for construction in the future? India's construction industry is expected to grow at an annual average of 6.6% between 2019 and 2028. If you are an admin, please authenticate by logging in again. - Overall, the Construction market in 2023 is essential for businesses to understand the market landscape, identify growth opportunities (strategies, services, customer base), mitigate risks (economic factors, impact business, minimize risks), Insight into Market Trends (latest trends, developments, consumer preferences, emerging technologies, dynamics, top competitive) make informed decisions, and achieve sustainable growth in a competitive business environment. Bechtel Corporation Bechtel is the largest construction company in the US, with 55,000 employees and annual revenue of $17.6 billion. Research and Markets. Listed below are a few of these rankings from the more popular countries. This is why roofers tend to have the most accidents and annual fatalities among all construction fields. US GDP - Contribution of Construction Industry is at 4.00%, compared to 4.00% last quarter and 4.00% last year. The U.S. single-family residential construction spending was $276 billion in 2019. The Turner Corp. is headquartered in New York, NY. However, it's not surprising since China happens to be the top manufacturer of construction equipment. "Growth Opportunities in the Global Construction Industry", https://www.researchandmarkets.com/r/r5iota. It provides general contracting services in a variety of sectors, including: Aviation. ACS brings in the most revenue of any construction company in the world and have been the top earning company for years. Construction is the Fastest Growing Industry in California. About 168,500 openings for construction laborers and helpers are projected each year, on average, over the decade. This Construction Market Research/Analysis Report Contains Answers to the following Questions, Construction Market Post-Covid-19 Analysis: Size, Trends, and Growth Opportunities Revealed. This cooperation quite often comes from the country's government. The total stock value of the top 30 construction companies at the end of 2018 decreased by 8% compared to 2017. Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Construction Industry. The construction market continues to grow at a moderate pace in the context of a global economy that is showing signs of a slight deceleration. Around 82% of German construction workers have no higher than a high school diploma. The end of 2021 saw a rise in the demand for housing, especially in San Diego and Sacramento. The current estimate for the cost of construction of phase one stands at between US$76 billion to US$113 billion, according to California High-Speed Rail Authority. Of course, California is the state with highest rate of group coverage for construction workers. Global Construction Aggregate Market, By Product, 6. It gives a pinpoint investigation of changing rivalry elements and keeps you in front of contenders. Overall, the long-term outlook for the global construction industry is positive. For 2023, Villeroy & Boch expects a . , What is the biggest construction company in the US 2022? BLS data from 2021 suggests that the following metropolitan areas employ the most construction workers: New York 287,150. The largest sub-sector and a major contributor to global growth, residential construction accounted for 44% of all construction globally in 2020. Great Britain's construction industry was slowly progressing until the pandemic hit. Despite near-term challenges in certain construction sectors, medium to long term growth story in United States remains intact. The CEO admitted that they essentially "got lucky" to have remained in business due to the pandemic. The first is that the industry desperately needs workers so companies are offering everyone top notch pay. TO KNOW HOW COVID-19 PANDEMIC AND RUSSIA UKRAINE WAR WILL IMPACT THIS MARKET - REQUEST SAMPLE, Detailed TOC of Global Construction Market Research Report, 2023-2030, 1 Market Overview 1.1 Product Overview and Scope of Construction 1.2 Classification of Construction by Type 1.2.1 Overview: Global Construction Market Size by Type: 2017 Versus 2021 Versus 2030 1.2.2 Global Construction Revenue Market Share by Type in 20223 1.3 Global Construction Market by Application 1.3.1 Overview: Global Construction Market Size by Application: 2017 Versus 2021 Versus 2030 1.4 Global Construction Market Size and Forecast 1.5 Global Construction Market Size and Forecast by Region 1.6 Market Drivers, Restraints and Trends 1.6.1 Construction Market Drivers 1.6.2 Construction Market Restraints 1.6.3 Construction Trends Analysis, 2 Company Profiles 2.1 Company 2.1.1 Company Details 2.1.2 Company Major Business 2.1.3 Company Construction Product and Solutions 2.1.4 Company Construction Revenue, Gross Margin and Market Share (2019, 2020, 2021 and 2023) 2.1.5 Company Recent Developments and Future Plans, 3 Market Competition, by Players 3.1 Global Construction Revenue and Share by Players (2019, 2020, 2021, and 2022) 3.2 Market Concentration Rate 3.2.1 Top3 Construction Players Market Share in 2021 3.2.2 Top 10 Construction Players Market Share in 2021 3.2.3 Market Competition Trend 3.3 Construction Players Head Office, Products and Services Provided 3.4 Construction Mergers and Acquisitions 3.5 Construction New Entrants and Expansion Plans, 4 Market Size Segment by Type 4.1 Global Construction Revenue and Market Share by Type (2017-2023) 4.2 Global Construction Market Forecast by Type (2023-2030), 5 Market Size Segment by Application 5.1 Global Construction Revenue Market Share by Application (2017-2023) 5.2 Global Construction Market Forecast by Application (2023-2030), 6 Regions by Country, by Type, and by Application 6.1 Construction Revenue by Type (2017-2030) 6.2 Construction Revenue by Application (2017-2030) 6.3 Construction Market Size by Country 6.3.1 Construction Revenue by Country (2017-2030) 6.3.2 United States Construction Market Size and Forecast (2017-2030) 6.3.3 Canada Construction Market Size and Forecast (2017-2030) 6.3.4 Mexico Construction Market Size and Forecast (2017-2030), 8 Appendix 8.1 Methodology 8.2 Research Process and Data Source 8.3 Disclaimer, Purchase this report (Price 3250 USD for a single-user license) -https://www.360marketupdates.com/purchase/22374528, Press Release Distributed by The Express Wire, To view the original version on The Express Wire visit Global Construction Market by [2023-2029] with Revenue Outsourcing, COMTEX_432221424/2598/2023-05-09T21:25:10. In 2030, it is projected to be more than twice as big as it was in 2020. New Hampshire comes in next to least. Stay informed and gain a competitive edge with our in-depth analysis of the Construction market post-Covid-19. X marks the spot as Elon Musk rebrands Twitter, ditches bird logo. In 2019, Great Britain's construction industry revenue reached an all-time high of, The residential construction sector makes about, In 2021, China landed construction contracts worth over, Singapore's infrastructure was worth over. Construction Data | Associated General Contractors of America - AGC Construction industry revenue statistics expect a CAGR of 8.8%, with a . It is a road and rail tunnel combined in one and will also have walkways at certain points. A lot of these deaths could be reduced if workers simply followed safety policies. While the company was hit hard by the pandemic, they managed to reduce some of the company's debt. The company is headquartered in Beijing, China. Like the first two companies, this is a decrease from the 2019 annual revenue by about 10 percent. Showing 10 out of 100 companies. Introduction: My name is Horacio Brakus JD, I am a lively, splendid, jolly, vivacious, vast, cheerful, agreeable person who loves writing and wants to share my knowledge and understanding with you. , What will be the future of construction? 2023. It was their collaboration with trade partners and clients to adopt a quick and decisive way of operations that kept workers safe while still keeping job sites running. In rare cases, a fully private infrastructure project can occur, but the private company takes on all the risk in these situations. | Reptile Room Tour May 2022!! Analysis of the competitive intensity of the industry based on Porter's Five Forces model. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Over the last few years, the overall number of employees in the construction industry held relatively steady. The construction industry in the U.S. accounted for 4.1% of the USGDP in 2019. Copyright 2023 MarketWatch, Inc. All rights reserved. The potential for recession, continued inflation, critical labor shortages and supply chain issues will loom large over construction in 2023. In a Deloitte industry outlook, the revenue of the global public cloud service, one of the fastest-growing branches of technology, is projected to reach $308 billion by 2021 and $354.6 billion by . | Source: https://www.verifiedmarketreports.com/download-sample/?rid=530227, https://www.verifiedmarketreports.com/ask-for-discount/?rid=530227, https://www.verifiedmarketreports.com/product/construction-aggregate-market-size-and-forecast/, Europe (UK, Germany, France and the rest of Europe), Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region), Latin America (Brazil, Mexico, and the rest of Latin America), Middle East and Africa (GCC and rest of the Middle East and Africa), To gain an in-depth understanding of the Global Construction Aggregate Market, To obtain research-based business decisions and add weight to presentations and marketing strategies, To gain competitive knowledge of leading market players. Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Construction Materials estimated at US$ 1121100 million in the year 2022, is projected to reach a revised size . Construction of infrastructure will grow at 6.8% in 2021 and is predicted to be the fastest growing sub-sector to 2030 with expected average annual growth of almost 4%. Visit a quote page and your recently viewed tickers will be displayed here. There are a lot of facts you likely never knew about the construction industry. , Is the construction industry slowing down? Q.4. The future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure.The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to the increasing urbanization and the growing population.Emerging trends which have a direct impact on the dynamics of the construction industry include increasing demand for green construction to reduce carbon footprint, bridge lock-up device systems to enhance the life of structures, building information systems for efficient building management, and the use of fiber-reinforced polymer composites for the rehabilitation of aging structures.The study includes the construction industry size and forecast for the global construction industry through 2023 segmented by type and region.Construction industry companies profiled in this market include China State Construction Engineering Corporation, China Railway Group Limited, China Railway Construction Corporation, Vinci SA, and Grupo ACS.On the basis of comprehensive research, the analyst forecasts that the residential segment is expected to show above average growth during the forecast period.Within the global construction industry, the residential segment is expected to remain the largest segment. Product Type Analysis: Production, Revenue, Price, Market Share, and Growth Rate for Each Category. PDF IN BRIEF REINVENTING CONSTRUCTION - McKinsey & Company Show publisher information Growth Opportunities and Strategic Analysis7.1: Growth Opportunity Analysis7.1.1: Growth Opportunities for the Global Construction Industry by Type7.1.2: Growth Opportunities for the Global Construction Industry by Region7.2: Emerging Trends in the Global Construction Industry7.3: Strategic Analysis7.3.1: Emerging Projects in the Global Construction Industry by Major Players7.3.2: Certification and Licensing7.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Construction Industry7.3.4: Technology Development8. Chinese companies continue to dominate the Top 100 in terms of revenue, while other Asian players, mainly from Japan and South Korea, along with companies from the US, France and Spain, have a significant presence in rankings. Chart. This means that every time you visit this website you will need to enable or disable cookies again. Global Construction Aggregate Market Size 2030 - Global Industry Sales Construction employment isn't back up to pre-pandemic levels. In light of current market conditions, it's understandable to wonder about the uncertainties of new home construction costs. Please enable JavaScript to view the site. 25,000 SFR starts took place in the six-month period ending December 2022. That leaves the last 28% to fill the hands-on positions. This decline was caused by unstable market conditions during the year and a decrease in the fourth quarter. US $20bn Entertainment District set to be constructed in Egypt, Marble maximizes India-Iran trade growth potential, Mexicos construction sector finally bounces back to pre-pandemic levels, Project Oman 2023: International Construction Technology, Infrastructure and Building Materials Exhibition, Giga-project investment boosts Mideast construction markets, Turkeys natural stone exports in the first five months of 2023. This is what helped to jumpstart their construction industry after the shut downs. GlobeNewswire. , What do most construction workers make an hour? These machines are primarily used to dig and move large or massive amounts of debris. It's also confusing since the industry has more vacant positions than workers. Construction work done up from US$9.7 trillion in 2022 to US$13.9 trillion in 2037driven by superpower .