Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2024-2028

Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2024-2028

Summary

With inflation softening and monetary policy beginning to ease in many economies globally, growth prospects for the construction industry have begun to improve. GlobalData expects that real global construction output will rise by 2.5% this year, following growth of 4.3% in 2023. While growth has been revised upwards globally, there remains a stark difference between the performance of construction industries in emerging markets, with those in advanced economies. GlobalData expects construction output to rise by a marginal 0.5% in advanced economies in 2024, while in emerging markets, growth of 3.9% is expected this year. This divide is expected to narrow in 2025, with advanced economies projected to record growth of 1.5%, while growth in emerging markets slows to 3.6%. Regionally, growth is expected to be weakest in Western Europe, where a contraction of 2.0% is expected, while South Asia is expected to record the highest growth globally, at 7.4%. The largest contributor to construction output growth will be China, which is projected to grow by 4.0% in 2024. Excluding China, global real construction output growth in 2024 falls to an expansion of 1.8%.

Scope

• This report provides a detailed analysis of the prospects for the global construction industry up to 2028.

Reasons to Buy

• Evaluate regional construction trends from insight on output values and forecast data to 2028. Identify the fastest growers to enable assessment and targeting of commercial opportunities in the markets best suited to strategic focus.
• Identify the drivers in the global construction market and consider growth in emerging and developed economies. Formulate plans on where and how to engage with the market while minimizing any negative impact on revenues.