Construction Spending

Construction Spending

Global Construction Spending Market to Reach US$5.0 Trillion by 2030

The global market for Construction Spending estimated at US$3.9 Trillion in the year 2023, is expected to reach US$5.0 Trillion by 2030, growing at a CAGR of 3.6% over the analysis period 2023-2030. Buildings Construction, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$2.2 Trillion by the end of the analysis period. Growth in the Heavy & Civil Engineering segment is estimated at 3.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.1 Trillion While China is Forecast to Grow at 6.9% CAGR

The Construction Spending market in the U.S. is estimated at US$1.1 Trillion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.0 Trillion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR.

Global Construction Spending Market - Key Trends and Drivers Summarized

Construction spending refers to the total expenditure on construction projects over a specific period. It encompasses a broad range of activities, from residential and commercial building to infrastructure development such as roads, bridges, and utilities. This measure is an important economic indicator, reflecting both public and private sector investment in building and infrastructure works. The figures are closely monitored by economists, investors, and policymakers because they provide insights into the health of the construction industry, which is a significant component of gross domestic product (GDP) and directly correlates with the overall economic health of a country.

In recent years, the landscape of construction spending has been shaped by a variety of trends and shifts in both residential and commercial sectors. Residential construction has seen a notable upswing driven by low interest rates, increasing demand for housing, and an evolving preference for suburban and rural homes—a trend accelerated by the global shift towards remote work during the COVID-19 pandemic. On the commercial front, there has been a significant transformation with increased investments in industrial facilities, especially those related to e-commerce and logistics. Conversely, the office and retail construction sectors have faced declines, as businesses reevaluate their space needs in response to increasing online shopping and ongoing adjustments to where and how people work.

The growth in the construction spending market is driven by several factors, including technological advancements in building materials and construction methods. The adoption of green building practices, aimed at reducing carbon footprints and enhancing energy efficiency, has spurred new projects that adhere to stricter environmental regulations. Furthermore, government fiscal policies, particularly public spending on infrastructure projects, significantly influence construction spending. Economic recovery packages, often including substantial allocations for infrastructure, can lead to surges in sector activity. Consumer behavior, particularly the increased demand for customized and luxury residential properties, also plays a critical role in driving construction spending. These multifaceted growth drivers ensure that the construction industry remains robust and capable of adapting to evolving economic and environmental landscapes.

Select Competitors (Total 86 Featured) -

• AlJaber Engineering W.L.L
• Arabian Bemco Contracting Co. Ltd.
• Bechtel Corporation
• Consolidated Contractors Company
• El Seif Engineering Contracting
• Esta Construction
• HBK Contracting Company W.L.L
• Mushrif Trading and Contracting Company
• Oman Shapoorji Construction Co
• Orascom Construction PLC
• Panattoni Development Company Inc.
• Ramaco Trading and Contracting W.L.L
• Redcon Construction
• Saudi Bin Ladin Group
• "Shapoorji Pallonji And Company
• Private Limited";

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.