Construction Spending Market Trends and Forecast
The future of the global construction spending market looks promising with opportunities in the residential, industrial, and commercial markets. The global construction spending market is expected to grow with a CAGR of 3.5% from 2024 to 2030. The major drivers for this market are increasing urbanization and population growth, technological advancements in construction methods and materials enhancing project efficiency and scalability, and government investments in public infrastructure projects boosting construction spending globally.
• Lucintel forecasts that cost of labor & material is expected to witness the highest growth over the forecast period.
• Within this market, residential is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Construction Spending Market
• United States - US construction firms are increasing investments in residential housing projects. Government targets include infrastructure upgrades with funding allocated for road and bridge construction to stimulate economic growth.
• China - Chinese companies are focusing on expanding high-speed rail networks and urban infrastructure. Government initiatives prioritize sustainable development with targets for green building certifications and energy-efficient construction practices.
• India - Indian construction companies are partnering with international firms for large-scale infrastructure projects. Government targets focus on affordable housing schemes and urban renewal projects to support economic development and job creation.
• Germany - German firms are investing in renewable energy infrastructure and smart city projects. Government targets include carbon-neutral building standards and incentives for energy-efficient renovations to reduce environmental impact.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Construction Spending Market by Segment
The study includes a forecast for the global construction spending market by type, application, and region.
Construction Spending Market by Type [Value from 2018 to 2030]:
• Cost of Labor & Materials
• Cost of Architectural & Engineering Work
• Overhead Costs
• Interest & Taxes Paid During Construction
• Others
Construction Spending Market by Application [Value from 2018 to 2030]:
• Residential
• Industrial
• Commercial
Construction Spending Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Construction Spending Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction spending companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction spending companies profiled in this report include-
• Arabian Bemco Contracting
• Arabtec Construction
• HBK
• Mushrif Trading and Contracting Company
• Saudi Bin Ladin
• Ashghal
• Bechtel
Recent Development in the Construction Spending Market
• Bechtel Corporation : Bechtel Corporation secured a contract for a major infrastructure project, involving the construction of a new airport terminal with advanced sustainability features.
• Skanska : Skanska announced partnerships with local governments to develop affordable housing projects, aiming to address housing shortages and support sustainable urban development.
• Turner Construction : Turner Construction implemented advanced Building Information Modeling (BIM) technology for improved project management and cost efficiency in large-scale commercial construction projects.
• Bouygues Construction : Bouygues Construction launched a new division focusing on renewable energy infrastructure projects, including solar and wind farms, to diversify its portfolio and promote sustainable development.
Features of the Global Construction Spending Market
Market Size Estimates: Construction spending market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Construction spending market size by type, application, and region in terms of value ($B).
Regional Analysis: Construction spending market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the construction spending market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction spending market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for construction spending market?
Answer: The global construction spending market is expected to grow with a CAGR of 3.5% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the construction spending market?
Answer: The major drivers for this market are increasing urbanization and population growth, technological advancements in construction methods and materials enhancing project efficiency and scalability and government investments in public infrastructure projects boosting construction spending globally.
Q3. What are the major segments for construction spending market?
Answer: The future of the construction spending market looks promising with opportunities in the residential, industrial, and commercial markets.
Q4. Who are the key construction spending market companies?
Answer: Some of the key construction spending companies are as follows:
• Arabian Bemco Contracting
• Arabtec Construction
• HBK
• Mushrif Trading and Contracting Company
• Saudi Bin Ladin
• Ashghal
• Bechtel
Q5. Which construction spending market segment will be the largest in future?
Answer: Lucintel forecasts that cost of labor & material is expected to witness the highest growth over the forecast period.
Q6. In construction spending market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the construction spending market by type (cost of labor & materials, cost of architectural & engineering work, overhead costs, interest & taxes paid during construction, and others), application (residential, industrial, and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Construction Spending Market, Construction Spending Market Size, Construction Spending Market Growth, Construction Spending Market Analysis, Construction Spending Market Report, Construction Spending Market Share, Construction Spending Market Trends, Construction Spending Market Forecast, Construction Spending Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.