Global Construction 2025
Global Construction 2025, A global forecast for the construction industry to 2025, was published on 1 July 2013 by Global Construction Perspectives and Oxford Economics.
It was the third in a series of major global studies of the construction and engineering industry. It was sponsored by a number of global business leaders in the construction and engineering industry from North America, Latin America, Europe, MENA, sub-Saharan Africa and Asia Pacific, however, there is a significant charge for accessing the report. The executive summary can be accessed free of charge by registering.
It is intended to improve understanding of global construction. The report and over 50 separate databases provide forecasts to 2025 and analyse market dynamics in major construction markets.
- Global Construction 2025 forecasts “meteoric growth”, outpacing global GDP, in China, the US and India.
- Construction globally is expected to rise by $6.3 trillion to $15 trillion by 2025, with China, the US, India, Indonesia, Russia, Canada and Mexico accounting for 72% of the expected growth.
- Over 60% of the global construction activity will be undertaken in emerging markets by 2025, up from 35%.
- North America will see the highest growth in developed country regions, almost 40% larger by 2025 than in 2007.
- Sub-Saharan Africa will by the second highest growth region.
- Western Europe is expected to be almost 5% smaller in 2025 than in 2007.
- Affordable housing in emerging markets is identified as a major market opportunity, with 270 million new homes needed in China and India by 2025.
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