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Global Construction Outlook To 2022
Published on: Jul 2018 | From USD $4950 | Published By: GLOBAL DATA | Number Of Pages: 62
Global Construction Outlook to 2022
Summary
The Construction Intelligence Center (CIC) expects the pace of expansion in the global construction industry to average 3.6% a year over the forecast period (2018-2022) - down slightly compared with 3.7% in the March 2018 forecast update. In real value terms (measured at constant 2017 prices and US$ exchange rates), global construction output is forecast to rise to US$12.7 trillion in 2022, up from US$10.6 trillion in 2017.
The global economy will continue to post healthy rates of growth in 2018-2019, and investor confidence will remain buoyant. The expected tightening in monetary policy in major markets in 2018 will start to push up the cost of borrowing, but with interest rates generally at or near historic lows, this process is not expected to have a major impact on construction activity during the early part of the forecast period.
This report provides a detailed analysis of the prospects for the global construction industry up to 2022.
Key Highlights
- Construction output growth will accelerate marginally to 3.7% in 2019, before easing back in the latter part of the forecast period, reflecting trends in some of the largest markets, notably China and the US.
- The acceleration in growth in global construction output in 2018-2019 is being driven primarily by the pickup in advanced economies, with combined growth in these markets rising to 2.7%, compared to 2.0% in 2017.
- Although growth in emerging markets will remain in excess of that in advanced economies over the forecast period, there will be a steady slowdown in growth in construction spending in emerging markets - primarily reflecting trends in China, which has the largest construction market in the world. In 2018-2022, construction output growth in emerging markets will average 4.3% a year, down from 4.9% in 2013-2017.
- The Asia-Pacific region will continue to account for the largest share of the global construction industry, given that it includes the large markets of China, Japan and India. The pace of growth will slow, however, given the projected slowdown in China’s construction industry.
- The emerging markets of South-East Asia will invest heavily in new infrastructure projects, supported by private investment. Meanwhile, construction growth in India will gather pace following a poor performance in 2017.
- Construction activity is gathering momentum across Western Europe. The region’s output will expand by 2.4% a year on average in 2018-2022, improving on the sluggish growth of 1.1% in 2013-2017.
Scope
- An overview of the outlook for the global construction industry to 2022
- Analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South and South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa
- A comprehensive benchmarking of 83 leading construction markets according to construction market value and growth
- Analysis of the latest data on construction output trends in key markets.
Reasons to buy
- Evaluate regional construction trends from insight on output values and forecast data to 2022.
- 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.
Table of Contents
1. Global Outlook
2. Regional Outlook: US and Canada
2.1. Overview
2.2. Key updates
3. Regional Outlook: Latin America
3.1. Overview
3.2. Key updates
4. Regional Outlook: Western Europe
4.1. Overview
4.2. Key updates
5. Regional Outlook: Eastern Europe and Central Asia
5.1. Overview
5.2. Key updates
6. Regional Outlook: South and South-East Asia
6.1. Overview
6.2. Key updates
7. Regional Outlook: Australasia
7.1. Overview
7.2. Key updates
8. Regional Outlook: North-East Asia
8.1. Overview
8.2. Key updates
9. Regional Outlook: Middle East and North Africa
9.1. Overview
9.2. Key updates
10. Regional Outlook: Sub-Saharan Africa
10.1. Overview
10.2. Key updates
11. Appendix
11.1. About The Construction Intelligence Center
11.2. Disclaimer
List of Tables
Table 1: Global Construction Output Growth (Real, % change), 2018-2022
Table 2: Global Construction Output Value (Real 2017 US$ billion)
Table 3: US and Canada, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 4: Latin America, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 5: Western Europe, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 6: Eastern Europe and Central Asia, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 7: South and South-East Asia, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 8: Australasia, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 9: North-East Asia, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 10: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 11: Middle East and Africa, Construction Output Value (Real, US$ 2017 Billion), 2013-2022
Table 12: US and Canada, Construction Output Growth (Real, % change)
Table 13: Latin America, Construction Output Growth (Real, % change)
Table 14: Western Europe, Construction Output Growth (Real, % change)
Table 15: Eastern Europe and Central Asia, Construction Output Growth (Real, % change)
Table 16: South and South-East Asia, Construction Output Growth (Real, % change)
Table 17: Australasia, Construction Output Growth (Real, % change)
Table 18: North-East Asia, Construction Output Growth (Real, % change)
Table 19: Middle East and North Africa, Construction Output Growth (Real, % change)
Table 20: Sub-Saharan Africa, Construction Output Growth (Real, % change)
List of Figures
Figure 1: Global Construction Output Growth (Real, average % change), 2018-2022
Figure 2: Global Construction Output Growth (Real, average % change), 2013-2017 and 2018-2022
Figure 3: Global Construction Output, Contribution to Growth, 2018-2022
Figure 4: Global Construction Output vs GDP (Real, average % change), 2018-2022
Figure 5: Global Construction Output Value (Real, 2017 US$ billion), 2017 and 2022
Figure 6: US and Canada, Construction Output Growth (Real, average % change), 2018-2022
Figure 7: US and Canada, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 8: US and Canada, Construction Output Value (Real, US$ 2017 Billion)
Figure 9: US, Construction Real Gross Output (% change, year on year)
Figure 10: US, Construction Put In Place (Nominal, % change, year on year)
Figure 11: Canada, Value of Building Permits (CAD Billion)
Figure 12: Latin America, Construction Output Growth (Real, average % change), 2018-2022
Figure 13: Latin America, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 14: Latin America, Construction Output Value (Real, US$ 2017 Billion)
Figure 15: Brazil, Construction Gross Value-Add (Real, Index, 1995=100)
Figure 16: Argentina, Synthetic Indicator of Construction Activity (Real, % change)
Figure 17: Mexico, Construction Production (Real, % change)
Figure 18: Colombia, Construction Output (COP billion, real)
Figure 19: Peru, Construction Output (Real, % change)
Figure 20: Western Europe, Construction Output Growth (Real, average % change), 2018-2022
Figure 21: Western Europe, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 22: Western Europe, Construction Output Value (Real, US$ 2017 Billion)
Figure 23: Germany, Construction, Civil Engineering and Building Production Index (2015=100)
Figure 24: France, Construction, Civil Engineering and Building Production Index (2015=100, seasonally adjusted)
Figure 25: Ireland, Volume of Production by Quarter and Type (2010= 100, seasonally adjusted)
Figure 26: Spain, Civil Engineering and Building Production Index (2015= 100, seasonally adjusted)
Figure 27: UK, Construction Output Index (2015 = 100, Chained volume, seasonally adjusted)
Figure 28: Eastern Europe and Central Asia, Construction Output Growth (Real, average % change), 2018-2022
Figure 29: Eastern Europe and Central Asia, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 30: Eastern Europe and Central Asia, Construction Output Value (Real, US$ 2017 Billion)
Figure 31: Poland, Construction Volume Index of Production (seasonally and calendar adjusted)
Figure 32: Czech Republic, Construction, Civil Engineering and Building Production Index (2015=100, seasonally adjusted)
Figure 33: Ukraine: Volume of Construction Works Accomplished (UAH million )
Figure 34: South and South-East Asia, Construction Output Growth (Real, average % change), 2018-2022
Figure 35: South and South-East Asia, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 36: South and South-East Asia, Construction Output Value (Real, US$ 2017 billion)
Figure 37: Singapore, Construction Value-Add (Real % change, year on year)
Figure 38: Thailand, Construction Gross Value Add (THB Million)
Figure 39: Indonesia, Construction Gross Value Add (% change)
Figure 40: Philippines, Construction Output (Real, % change)
Figure 41: Australasia, Construction Output Growth (Real, average % change), 2018-2022
Figure 42: Australasia, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 43: Australasia, Construction Output Value (Real, US$ 2017 Billion)
Figure 44: Australia, Value of Building Approvals (AUD million, chain volume measures, seasonally adjusted)
Figure 45: New Zealand, Buildings Work Put in Place (% change)
Figure 46: North-East Asia, Construction Output Growth (Real, average % change), 2018-2022
Figure 47: North-East Asia, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 48: North-East Asia, Construction Output Value (Real, US$ 2017 Billion)
Figure 49: China, Construction Output Value of and Completed Value (100 million yuan, accumulated)
Figure 50: Japan, Total Housing Starts
Figure 51: Middle East and North Africa, Construction Output Growth (Real, average % change), 2018-2022
Figure 52: Middle East and North Africa, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 53: Middle East and North Africa, Construction Output Value (Real, US$ 2017 Billion)
Figure 54: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2018-2022
Figure 55: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2013-2017 vs 2018-2022
Figure 56: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 Billion)
Figure 57: Nigeria, Construction Value-Add (Real, NGN billion)
Figure 58: South Africa, Construction Value-Add (Real, % change, year on year)
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
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