Global Construction Outlook to 2024 (including Covid-19 Impact Analysis)

Prior to the outbreak of the coronavirus (COVID-19), GlobalData had predicted that there would be an acceleration in the pace of growth in the global construction industry, to 3.1% from 2.6% in 2019. However, given the severe disruption in China and other leading economies worldwide following the outbreak, the forecast for growth in 2020 has now been revised down to 0.5%. The current forecast assumes that the outbreak is contained across all major markets by the end of the second quarter, following which, conditions would allow for a return to normalcy in terms of economic activity and freedom of movement in the second half of the year. However, there will be a lingering and potentially heavy impact on private investment owing to the financial toll that inflicted upon businesses and investors across a wide range of sectors.

Governments and public authorities will likely be aiming to advance spending on infrastructure projects as soon as normality returns so as to reinvigorate the industry. This will be spread across all areas of transport infrastructure and energy and utilities. With interest rates falling to record lows, borrowing costs will be at a minimum, but the success of government efforts to spend heavily on infrastructure will be dependent in part on their current financial standing. Moreover, with most governments prioritizing cash hand-outs, particularly to the economically weaker segment, their capability to invest in the infrastructure segment is likely to be constrained, especially in countries with high debts.

Scope

An overview of the outlook for the global construction industry to 2024, with specific focus on assessing the impact of COVID-19

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 92 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 2024, and understand the immediate risks and challenges presented by the spread of COVID-19. 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

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. ABOUT GLOBALDATA

11.1. GlobalData at a Glance

11.2. GlobalData Construction

11.3. Disclaimer

11.4. Contact Us

List of Tables

Table 1: Global Construction Output Growth (Real, % change), 2019–2024

Table 2: US and Canada, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 3: Latin America, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 4: Western Europe, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 5: Eastern Europe and Central Asia, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 6: South and South-East Asia, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 7: North-East Asia, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 8: Australasia, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 9: Middle East and North Africa, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 10: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 billion), 2015–2024

Table 11: US and Canada, Construction Output Growth (Real, % change)

Table 12: Latin America, Construction Output Growth (Real, % change)

Table 13: Western Europe, Construction Output Growth (Real, % change)

Table 14: Eastern Europe, Construction Output Growth (Real, % change)

Table 15: South and South-East Asia, Construction Output Growth (Real, % change)

Table 16: Australasia, Construction Output Growth (Real, % change)

Table 17: North-East Asia, Construction Output Growth (Real, % change)

Table 18: Middle East and North Africa, Construction Output Growth (Real, % change)

Table 19: Sub-Saharan Africa, Construction Output Growth (Real, % change)

List of Figures

Figure 1: Global Construction Outlook – Key Changes to the Forecast

Figure 2: Impact of COVID-19 on the construction industry – Global

Figure 3: Impact of COVID-19 on the construction industry – By region

Figure 4: Global Construction Output Growth (Real, % change), 2015–2024

Figure 5: Global Construction Output Growth (Real, average % change), 2015–2019 and 2020–2024

Figure 6: Global Construction Output Growth (Real, average % change), 2020–2024

Figure 7: Global Construction Output Value (Real, 2017 US$ billion), 2019 and 2024

Figure 8: US and Canada, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 9: US and Canada, Construction Output Growth (Real, average % change), 2019–2023

Figure 10: US and Canada, Construction Output Value (Real, US$ 2017 billion)

Figure 11: North America Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 12: US, Value of Construction Put in Place Seasonally Adjusted (US$ million)

Figure 13: Canada, Construction Value-Add (% change year on year, 2012 chained dollars)

Figure 14: Latin America, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 15: Latin America, Construction Output Growth (Real, average % change), 2019–2023

Figure 16: Latin America Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 17: Latin America, Construction Output Value (Real, US$ 2017 billion)

Figure 18: Brazil, Construction Value-Add (BRL million, chained at 1995 prices)

Figure 19: Mexico , Construction Value-Add (constant 2013 prices, % change, year on year)

Figure 20: Argentina, Construction Value-Add (constant 2004 prices, % change, year on year)

Figure 21: Chile, Construction Value-Add (CLP billion, chained at 2013 prices)

Figure 22: Colombia, Construction Value-Add (COP, chained at 2015 prices, % change, year on year)

Figure 23: Peru, Construction Value-Add (PEN million, constant 2007 prices)

Figure 24: Western Europe, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 25: Western Europe, Construction Output Growth (Real, average % change), 2019–2023

Figure 26: Western Europe Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 27: Western Europe, Construction Output Value (Real, US$ 2017 billion)

Figure 28: Germany, Construction Value Add (EUR Million, 2010 chained prices)

Figure 29: UK, Construction Output (% change, year on year)

Figure 30: France, Construction Value-add (Chain linked volumes,2015, EUR Million)

Figure 31: Eastern Europe, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 32: Eastern Europe, Construction Output Growth (Real, average % change), 2019–2023

Figure 33: Eastern Europe Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 34: Eastern Europe, Construction Output Value (Real, US$ 2017 billion)

Figure 35: Hungary, Construction Production Index (% change, year on year)

Figure 36: Poland, Construction Production Index (% change, year on year)

Figure 37:Turkey, Construction Value-Add (Constant Prices)

Figure 38: South and South-East Asia, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 39: South and South-East Asia, Construction Output Growth (Real, average % change), 2019–2023

Figure 40: South and South-East Asia Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 41: South and South-East Asia, Construction Output Value (Real, US$ 2017 billion)

Figure 42: India, Construction Value-Add (INR Billion, Constant Prices)

Figure 43: Malaysia, Construction Value-Add (MYR Million, Constant 2015 Prices)

Figure 44: Singapore, Construction Value-Add (SGD Million, 2015 chained prices)

Figure 45: Indonesia, Construction Value-Add (IDR Billion, Constant Prices)

Figure 46: Australasia, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 47: Australasia, Construction Output Growth (Real, average % change), 2019–2023

Figure 48: Australasia, Construction Output Value (Real, US$ 2017 billion)

Figure 49: Australasia Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 50: Australia – Building Approvals, Total Number of Dwelling Units Approved (12 month moving average)

Figure 51: North-East Asia, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 52: North-East Asia, Construction Output Growth (Real, average % change), 2019–2023

Figure 53: North-East Asia Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 54: North-East Asia, Construction Output Value (Real, US$ 2017 billion)

Figure 55: China, Fixed Asset Investment (% change, year on year)

Figure 56: Japan – Value of Construction Contracts (Billion Yen)

Figure 57: Hong Kong, Gross value of construction works performed by main contractors (HKD Million, Real)

Figure 58: South Korea – Construction Value-Add (% change year-on-year)

Figure 59: Middle East and North Africa, Construction Output Growth (Real, average % change), 2014–2018 vs 2019–2023

Figure 60:Middle East and North Africa, Construction Output Growth (Real, average % change), 2019–2023

Figure 61: Middle East and North Africa Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 62: Middle East and Africa, Construction Output Value (Real, US$ 2017 billion)

Figure 63: Saudi Arabia- Construction Value-Add (SAR million, Constant Prices)

Figure 64: Oman, Construction Value-Add (OMR million, Constant Prices)

Figure 65: Egypt, Construction Value-Add (EGP million, Constant Prices)

Figure 66: Kuwait, Construction Value Add (KWD million, Constant Prices)

Figure 67: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2015–2019 vs 2020–2024

Figure 68: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2019–2023

Figure 69: Sub-Saharan Africa Construction Output Growth, Latest Update vs Previous Update (% change)

Figure 70: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 billion)

Figure 71: Nigeria, Construction Value-Add (NGN million, Constant Prices)

Figure 72: South Africa, Construction Value-Add (ZAR million, Constant Prices Seasonally Adjusted)

Figure 73: Kenya, Construction Value-Add (KSH million, Constant Prices)

Figure 74: Zambia, Construction Value-Add (ZMK million, Constant Prices)

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