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] The FR masterbatch market will grow worldwide at 7% to US$ 1.8 billion by 2027, again with especially strong growth in E & E, and driven by fire regulations in construction and industry and electrical vehicles.
• [New] Texas now has six LNG export facilities (trains) operating or planned for construction within the next 2 years, which will increase the U.S. export capacity to 10 billion cubic feet per day.
• Germany will need to fill a yearly financing gap of nine billion euros in 2030 and 23 billion euros in 2040 in order to reduce emissions from buildings by 80 percent by 2050 compared to 1990.
• The global LSHF cable market will grow at 10.7% from 2019 to 2027 (from 2.5 to US$ 6.4 billion), again driven by regulations on fire safety, especially in construction, in both developed and developing economies.
• New housing projects in emerging economies are expected to provide new opportunities for construction globally, with around 270 million new homes needed in China and India alone by 2025 to meet the needs of growing population growth and urbanization trends.
• IDC expects the resource industry to move ahead of both construction and discrete manufacturing to become the second largest industry for drone spending in 2021.
• Industry spending on drones will be led by utilities ($1.9 billion), construction ($1.4 billion), and the discrete manufacturing and resource industries.
• Global demand for coal is expected to remain largely stable through 2024, driven by robust economic growth and the construction of new coal-fired power plants in Asia, particularly in China and India.
• The construction market in Asia is expected to account for almost half of global construction spending by 2020.
• By 2030, global spending in construction is expected to touch $17.5 trillion, with China, the United States and India leading the way and accounting for 57 percent of all global growth.
• International Resource Panel modelling sees a boost of 8% in global growth above a historical trends scenario from 2030 to 2060 through efficiency measures in construction and manufacturing alone.
• Cambodia's economic growth is projected to reach around 7% by 2020 due to growth in exports, foreign investment inflows, tourism, and construction and real estate, sectors which are expected to enjoy continued growth.
• The European Commission executive arm estimates that halving emissions by 2030 would require 260 billion euros of investment a year in the energy, transport and construction sectors.
• The construction sector in Middle East & North Africa is expected to grow at the fastest pace in 2019, as the regional governments are investing in infrastructure projects.
• Meeting the UK's net-zero target will require virtually all heat in buildings to be decarbonised, and heat in industry to be reduced to close to zero carbon emissions.
• Work on the more modern Type 002 carrier started two years ago, and a naval source told the South China Morning Post that construction of a second Type 002 vessel could begin as early as 2021.
• Mayors have pledged that new buildings in 19 cities, including London, Los Angeles, New York City, Tokyo, Paris and Sydney, will have zero emissions by 2030, with existing buildings becoming zero by 2050.
• The Global Building Information Modeling Market Analysis to 2027 is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis.
• FERC projects that the capacity of new US coal plants over the next three years will be zero because none are reported as being under construction.
• The global AI in construction market was valued at US$ 450 million in the year 2018 and is expected to reach over US$ 2.1 Billion by the year 2023, growing at a CAGR of 36.2%.
• New buildings only make up ~5% of total buildings in South Africa, and retrofitting of existing buildings is expected to become the largest sector within the green building industry by 2020.
• The retrofitting of South Africa's large stock of existing buildings is expected to become the largest sector within the green building industry by 2020.
• MLSD announced a plan to nationalize and create jobs for Saudis in three main sectors during 2019-2020, with 80 thousand jobs in real estate and construction and 40 thousand jobs in health, and 15 thousand jobs in IT.

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Last updated: 26 February 2020