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