Global Construction Services Market

$3,850.0$7,700.0

Industry Analysis, Forecasts and Opportunity Assessment (2017-2022)

  • Market Trends, Dynamics and Regulatory Framework
  • Regional and Cross-segment Sales Figures
  • Extensive Industry Structure Coverage

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Description

Construction services comprise the construction, alteration, repair, refurbishment or fitting out of buildings and other structures, the installation, alteration or repair of plant and equipment designed to be used in, or in relation to, the provision of services for buildings and other structures, the undertaking, construction, alteration or repair of landscaping and earthworks (whether or not in relation to buildings and other structures), the demolition, destruction, dismantling or removal of building and other structures, plant and equipment aforementioned and earthworks, and the clearing of land and the development of land for use as urban land or otherwise.

Market Dynamics

The global construction industry has had a difficult period in recent years, after the global recession in 2007, the industry was directly affected by a huge drop in available investment from banks and financial institutions. It has become increasingly evident though those financial institutions have regained their confidence in the industry and such have been backing big projects. However, there is concern that the levels of growth currently being seen are not going to last much longer and the primary source of the current investment is not providing the kinds of returns that were expected. The major factor in the industry, is just how much longer China will continue to bank roll the industry and despite enormous investment programs such as the Belt and Road program, eventually the construction industry will need to find more organic methods of growth. One of the major drivers for the global construction services market is the positive outlook for global construction industry, the global construction output which reached US$8.8 trillion in 2016, is expected to increase at an annual average of 2.8% during 2017 and 2021 and (forecast period) and value US$10.1 trillion in 2021. The construction industry in emerging markets is estimated to increase at a faster rate than the advanced economies. The emerging markets which accounted for 46.7% in 2012, is expected to increase to 52.8% by 2021. The annual growth in advanced economies is estimated to expand by 2% during the forecast period, while emerging markets is estimated to expand by 3.5%. Moreover, Asia-Pacific region is anticipated to account for the largest share of the global construction industry driven by large markets of China, Japan and India. The emerging markets of South-East Asia are expected to invest highly in new infrastructure projects, supported by private investment. The Middle East and African regions are expected to perform best in construction industry in the world during the forecast period. Annual average growth in Middle East and African region is expected to grow at 3.4% in the forecast period. This is expected to drive from shift from a heavy reliance on the oil economy which involves investment in infrastructure and non-oil industrial and commercial zones. Latin American and European construction industries are expected to grow at a slower pace than other emerging market regions. The construction output growth in the Middle East and Africa is estimated to be the fastest growing in the forecast period with 3.4%, followed by Asia-Pacific (3.3%), Eastern Europe (2.5%), Western Europe (2.4%) and Latin America (2.1%). In addition, in North America, the US region is estimated to grow at an average rate of 2.5% and Canadian region is expected to grow at 2.1% over the forecast period

One of the significant challenge facing this market are extensive laws and regulations where these laws and regulations affect the land development and homebuilding process, including laws and regulations related to zoning, permitted land uses, levels of density, building design, warranties, storm water, and use of open spaces, and the ones concerning safety and the protection of health and the environment in the form of levying environmental impact fees, use energy-saving construction materials and make commitments to municipalities to provide certain infrastructure such as roads and sewage systems. Also, the market is characterised by high competition with many players offering similar services where the competitive factors affecting the company’s operations are price, construction costs, design and quality of buildings, and customer service and marketing expertise.

Market Segmentation

The market for global construction services can be segmented on the basis of geography into
• Americas
• EMEA
• Asia-Pacific

Regional/Geographic Analysis

Asia-Pacific
Countries in the Asia Pacific region such as China and India are experiencing rapid urban development combined with exponential growth in infrastructure needs and are looking for energy-efficient solutions. The infrastructure construction market is growing at a rapid pace. According to industry estimates, emerging and developing economies are expected to account for 55% of the global construction market by 2020 as compared with 46% in 2010. Increase in construction activities in these economies is expected due to their increasing population size, accelerating urbanization and robust economic development. Further, in the next ten years, Asia Pacific market is expected to register strongest growth among emerging economies. Industry sources estimate China to become the world’s leading construction market by 2018 and be worth $2.5 trillion by end of 2020. With India’s economy growing steadily, construction spending in India is expected to grow rapidly and the country is expected to become one of the world’s third largest construction markets by 2018.

Americas
Residential construction in the US and Canada has been the growth driver of the North American industry in recent years and demand in this segment of these two industries has been stimulated by lower mortgage interest rates. On the other hand, the Mexican industry recorded a decline, but its relative small size within the North American industry meant this had a minimal impact on the latter. The projected increase of investment in infrastructure in the US will offset slower demand in residential construction over the next few years. A similar trend in the Canadian residential construction is also expected as real estate investment is set to cool off. In contrast, the growth-recovery of the Mexican industry driven by residential construction given the favorable demographics and efforts for reconstruction after the catastrophic earthquakes of 2017, will add to the growth of the North American industry
EMEA
An improving macroeconomic environment in Europe is expected to stimulate demand in construction, especially in non-residential construction the growth of which has been supressed due to limited public investment in infrastructure amid austerity. Moreover, the expected protraction of the relaxed monetary policy in Europe over the next few years will continue to enhance mortgage lending that fuels activity in residential construction

Key Players

Some of the key players in this market are as follows:
• Laing O’Rourke
• Royal BAM Group
• Kiewit
• Bouygues Construction
• Balfour Beatty
• Skanska
• Hochtief
• Bechtel
• Grupo ACS
• Vinci

Report ContentsRegional AnalysisReport Highlights
  • Market segments
  • Market Drivers, Restraints and Opportunities
  • Market Size & Forecast 2016 to 2022
  • Supply & Demand Value Chain
  • Market – Current Trends
  • Competition & Major Companies
  • Technology and R&D Status
  • Porters Five Force Analysis
  • Strategic and Critical Success Factor Analysis of Key Players
  • North America
    • US and Canada
  • Latin America
    • Mexico, Brazil, Argentina and Rest of Latin America
  • Western Europe
    • EU5 (Germany, France, Italy, Spain, U.K.)
    • Nordic Countries (Denmark, Finland, Norway, and Sweden)
    • Benelux (Belgium, The Netherlands, and Luxembourg)
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia and New Zealand
    • Rest of Asia Pacific
  • Middle East and Africa
    • GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
    • South Africa
    • North Africa
    • Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

  • Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
  • Consumer and Pricing Analysis
  • Market dynamics of the industry
  • Market Segmentation
  • Estimated Market Sizing in terms of volume and value
  • Recent trends in Market and impact
  • Research Status and Technology Overview
  • Extensive Industry Structure Coverage

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