Construction

WHAT'S NEXT?: 65 per cent of global construction growth for the next decade will happen in emerging markets. Smart cities, sustainable construction, greater urbanization and pre-fabricated buildings will all play their part in future construction growth.

• [New] Global revenue for intelligent buildings solutions is expected to experience a compound annual growth rate of 16.4% from 2018 to 2028, reaching $95.2 billion by the end of the forecast period.
• [New] FERC projects that the capacity of new US coal plants over the next three years will be zero because none are under construction.
• [New] Modular construction will continue to grow by 6.9 percent per year and hit $157 billion by 2023, driven by the lack of skilled labor and affordable and growing material costs.
• According to the annual World Bank East Asia and Pacific Economic Update, the Myanmar economy is projected to grow by 6.6 percent in 2020, driven by investments in the manufacturing and construction sectors.
• If the UK economy is to achieve the net zero emissions target by 2050, then it will be vital for organisations to improve efficiency in all sectors, including the construction industry.
• By 2050, buildings in non-OECD countries will collectively use about twice as much electricity as buildings in OECD countries.
• The level of ongoing housing construction is still high and indicates strong supply of apartments in growth centres, especially the Helsinki region, in H2 2019.
• Global capacity of renewable power is expected to grow by 50 percent in the next five years, reflecting a surge in new solar energy systems on commercial buildings, industrial sites and homes.
• Distributed solar photovoltaic systems installed on commercial buildings, homes and in industry will make up nearly half of the increase in the solar PV market.
• In countries that are not part of the Organization for Economic Cooperation and Development (non-OECD countries), EIA projects that energy consumed in buildings will grow by more than 2% per year, or about five times the rate of OECD countries.
• Deeply decarbonizing the U.S. energy system by 2050 will require rapidly increasing energy efficiency, decarbonizing electricity supply, and electrifying energy end uses, including buildings, transportation, and industry.
• Addressing upfront carbon is crucial to fighting the climate crisis, as new construction is expected to double the world's building stock by 2060 causing an increase in carbon emissions.
• In China, the real estate sector drove growth in construction activity in 2019, but in 2020 this will slow down: Infrastructure investment is expected to be boosted by government stimulus.
• The construction of UK private housing growth is expected to maintain the demand for new residential structures due to the governments initiative, Help to Buy equity loan up to 2021.
• The global growth of residential construction is expected to be 4.4 percent during the period 2015 to 2020.
• The rising demand for melamine owing to the rapid development of the construction industry is predicted to encourage the growth of the Asia Pacific melamine market in the near future.
• Indonesia's construction industry's output value is expected to continue to expand at a healthy rate over the forecast period (2019-2023), with investments in housing, transport and tourism infrastructure projects continuing to drive growth.
• The massive LNG Canada plant now under construction in British Columbia will help displace emissions from coal plants in other countries, the equivalent of reducing Canada's GHG levels by 10 per cent.
• Air conditioners and electric fans currently account for nearly 20% of the total electricity used in buildings around the world, and global energy demand from air conditioners is expected to triple by 2050.
• Several other California cities, including Los Angeles and San Francisco, are considering building electrification ordinances, New Jersey's draft Energy Master Plan would end natural gas use in buildings by 2030, and new Maine laws will reduce natural gas use in buildings.
• Governments across the world are investing significantly in the develop: spending on capital-intensive projects and infrastructure development is expected to grow significantly in the next decade, will augment the growth of the global construction machinery market during the forecast period.
• Inner Mongolia Mengtai Group commenced construction of its 200,000 tonnes a year aluminium alloy project in June 2019: Phase one capacity of 100,000 tonnes is expected to come online in 2020.

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Last updated: 13 November 2019