[70 Pages Report] The global construction market size is expected to decline from USD 11,217.4 billion in 2019 to USD 10,566.8 billion in 2020. However, the industry will show signs of recovery in 2021 and reach a market size of USD 11,496.7 billion, projecting a CAGR of 1.2% between 2019 and 2021. The construction industry is expected to grow due to expected economic recovery resulting in increasing awareness about antibacterial construction materials.
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Globally, construction is more than USD 11 trillion industry, of which residential construction is the largest sector. The occurrence of COVID-19 has caused disruption in the residential construction sector. The main disruption is in the supply chain. The transformation of COVID-19 from a China-centric challenge to a global pandemic has resulted in shifting the impact to the global construction supply chains and markets.
The ongoing pandemic has created a number of challenges not only for the construction industry but also disrupted the global economy. The global crisis, duration of the recession, and path of recovery will largely determine the nature and severity of these challenges. The construction industry, particularly the new residential segment, was performing well and witnessing a surge in activity across many sectors in the first quarter of 2020. Owing to the rising number of cases in North America, many ongoing projects that were considered essential by the government authorities were not stopped, but new residential construction permits were suspended.
In the current situation, the builders and contractors are struggling to obtain permits for both new and in-process construction projects. Both construction companies and workers want to resume or continue their operations. However, new guidelines and regulations issued by the governments have created uncertainty and confusion for the companies as well as the laborers. Homeowners in regions with a high number of COVID-19 cases are limiting contractor access or entrance into homes and are preferring DIY projects as families are staying home.
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APAC is the major construction market owing to the increasing construction activities in China, India, and Southeast Asian countries. Advancements in technology, regulatory policies, and government norms are some of the major factors driving the construction industry in APAC. However, the COVID-19 pandemic has resulted in a huge decline in the construction market in the region owing to continuous lockdown across various countries in 2020.
The key players in the global construction industry are Bechtel Group (US), Balfour Beatty (UK), Grupo ACS (Spain), China State Construction Engineering Corporation Limited (China), L&T Construction (India), PCL Construction Enterprises (Canada), and Skanska Construction (Sweden). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the construction industry. The study includes an in-depth competitive analysis of these companies in the construction industry, with their company profiles, recent developments, and key market strategies.
Report Metric |
Details |
Years considered for the study |
2018–2021 |
Base year |
2019 |
Forecast period |
2020–2021 |
Units considered |
Value (USD Billion) |
Segments |
Type and Region |
Regions |
Europe, North America, APAC, Middle East & Africa, and South America |
Companies |
Bechtel Group (US), Balfour Beatty (UK), Grupo ACS (Spain), China State Construction Engineering Corporation Limited (China), L&T Construction (India), PCL Construction Enterprises (Canada), and Skanska Construction (Sweden) |
This research report categorizes the composites market based on type and region.
South America
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 13)
1.1 OBJECTIVES OF THE STUDY
1.2 COVID-19
1.3 CONFIRMED CASES AND DEATHS, BY COUNTRY
FIGURE 1 COVID-19 PANDEMIC'S PACE OF GLOBAL PROPAGATION IS UNPRECEDENTED
1.4 MARKET SCOPE
1.4.1 MARKET DEFINITION
FIGURE 2 CONSTRUCTION INDUSTRY SEGMENTATION
FIGURE 3 YEARS CONSIDERED FOR THE STUDY
1.5 CURRENCY
1.6 LIMITATIONS OF THE STUDY
2 RESEARCH METHODOLOGY (Page No. - 17)
2.1 RESEARCH DATA
FIGURE 4 IMPACT OF COVID-19 ON THE CONSTRUCTION INDUSTRY: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 5 IMPACT OF COVID-19 ON GLOBAL CONSTRUCTION INDUSTRY: MARKET SIZE ESTIMATION (METHOD 1)
2.2.2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 6 IMPACT OF COVID-19 ON GLOBAL CONSTRUCTION INDUSTRY: MARKET SIZE ESTIMATION (METHOD 2)
FIGURE 7 DIFFERENT SCENARIOS FOR CONSTRUCTION INDUSTRY
FIGURE 8 PESSIMISTIC, REALISTIC, OPTIMISTIC SCENARIOS FOR CONSTRUCTION INDUSTRY (USD BILLION)
2.3 DATA TRIANGULATION
FIGURE 9 CONSTRUCTION INDUSTRY: DATA TRIANGULATION
3 MACROECONOMIC INDICATORS (Page No. - 25)
FIGURE 10 IMPACT OF COVID-19 IN 2020 (Q1) ON DIFFERENT COUNTRIES
FIGURE 11 THREE SCENARIO-BASED ANALYSIS OF IMPACT OF COVID-19 ON THE OVERALL BUSINESS
4 CUSTOMER ANALYSIS (Page No. - 28)
4.1 SHIFT IN INSTITUTIONAL/INDUSTRIAL CUSTOMERS
4.1.1 DISRUPTION IN THE INDUSTRIAL/COMMERCIAL SECTORS
4.1.2 IMPACT ON CUSTOMERS' OUTPUT & STRATEGIES TO RESUME/IMPROVE PRODUCTION
4.1.2.1 Impact on the construction of new facilities
4.1.2.2 Short-term strategies to manage cost structure and supply chains
4.1.3 NEW MARKET OPPORTUNITIES/GROWTH OPPORTUNITIES
4.1.3.1 Measures taken by the customers
4.1.3.2 Customers' perspective on the growth outlook
4.2 SHIFT IN RESIDENTIAL CUSTOMER SEGMENTS
4.2.1 DISRUPTION IN THE CONSTRUCTION INDUSTRY
4.2.2 IMPACT ON CUSTOMER SPENDING PATTERNS
4.2.2.1 Changing income levels
4.2.2.2 Customers' perspective on the growth outlook/new construction
5 COVID-19 IMPACT: CONSTRUCTION ECOSYSTEM (Page No. - 31)
5.1 VALUE CHAIN ANALYSIS
FIGURE 12 VALUE CHAIN OF THE CONSTRUCTION INDUSTRY
5.1.1 RESIDENTIAL BUILDING CONSTRUCTION
5.1.2 NON-RESIDENTIAL BUILDING CONSTRUCTION
5.1.3 HEAVY & CIVIL ENGINEERING CONSTRUCTION
5.2 IMPACT ON VALUE CHAIN & MEASURES TAKEN
5.2.1 FINANCING
5.2.2 DESIGN/ARCHITECTS
5.2.3 CONSTRUCTION MATERIAL SUPPLIERS
5.2.4 LOGISTICS/EQUIPMENT SUPPLIERS
5.2.5 CONSTRUCTION CONTRACTORS/CONSULTANTS
5.2.6 MAINTENANCE/USERS/SERVICE PROVIDERS
FIGURE 13 IMPACT OF VALUE CHAIN OF THE CONSTRUCTION INDUSTRY
5.3 MARKET DYNAMICS
FIGURE 14 IMPACT OF COVID-19 ON CONSTRUCTION INDUSTRY: DRIVERS AND RESTRAINTS
5.3.1 DRIVERS
5.3.1.1 Increasing automation in public spaces and rising awareness about antibacterial construction materials
5.3.2 RESTRAINTS
5.3.2.1 Shutdown of manufacturing facilities
5.3.2.2 Non-availability of raw materials
5.3.2.3 Impact on supply chain and logistics
6 IMPACT OF COVID-19 ON CONSTRUCTION COMPANIES (Page No. - 37)
6.1 BIGGEST GAINERS, BY TOP SECTORS
6.1.1 HEAVY & CIVIL ENGINEERING
6.2 BIGGEST LOSERS, BY TOP SECTORS
6.2.1 RESIDENTIAL
6.2.2 NON-RESIDENTIAL
6.3 BIGGEST GAINERS, BY TOP CONSTRUCTION TECHNOLOGIES
6.3.1 PREFABRICATED TECHNOLOGY
6.3.2 AUTOMATED CONSTRUCTION TECHNOLOGY
6.3.3 COMPUTER INTEGRATED/SMART CONSTRUCTION TECHNIQUES
6.4 COVID-19 IMPACT ON TOP COMPANIES
6.4.1 BECHTEL GROUP
6.4.2 BALFOUR BEATTY
6.4.3 GRUPO ACS
6.4.4 CHINA STATE CONSTRUCTION ENGINEERING
6.4.5 L&T CONSTRUCTION
6.4.6 PCL CONSTRUCTION ENTERPRISES
6.4.7 SKANSKA CONSTRUCTION
7 WINNING STRATEGIES OF CONSTRUCTION COMPANIES (Page No. - 44)
7.1 WINNING STRATEGIES TO GAIN MARKET SHARE
7.1.1 SHORT-TERM STRATEGIES (TILL DEC 2020)
7.1.2 MIDTERM STRATEGIES (2021-2022)
7.1.3 LONG-TERM STRATEGIES (2022 ONWARDS)
7.2 COVID-19 RELATED DEVELOPMENTS/STRATEGIES OF STAKEHOLDERS IN THE CONSTRUCTION VALUE CHAIN
8 IMPACT OF COVID-19 ON THE CONSTRUCTION INDUSTRY (Page No. - 48)
8.1 SCENARIO-BASED FORECASTING, BY TYPE
8.1.1 PESSIMISTIC SCENARIO
TABLE 1 GLOBAL PESSIMISTIC SCENARIO: COVID-19 IMPACT ON CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.1.2 REALISTIC SCENARIO
TABLE 2 GLOBAL REALISTIC SCENARIO: COVID-19 IMPACT ON CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.1.3 OPTIMISTIC SCENARIO
TABLE 3 GLOBAL OPTIMISTIC SCENARIO: COVID-19 IMPACT ON CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.2 BY TYPE, IN REALISTIC SCENARIO
8.2.1 RESIDENTIAL CONSTRUCTION
TABLE 4 COVID-19 IMPACT ON RESIDENTIAL CONSTRUCTION MARKET SIZE, BY REGION, 2018-2021 (USD BILLION)
8.2.2 NON-RESIDENTIAL CONSTRUCTION
TABLE 5 COVID-19 IMPACT ON NON-RESIDENTIAL CONSTRUCTION MARKET SIZE, BY REGION, 2018-2021 (USD BILLION)
8.2.3 HEAVY & CIVIL ENGINEERING CONSTRUCTION
TABLE 6 COVID-19 IMPACT ON HEAVY & CIVIL ENGINEERING CONSTRUCTION MARKET SIZE, BY REGION, 2018-2021 (USD BILLION)
8.3 BY REGION, IN REALISTIC SCENARIO
TABLE 7 POST-COVID-19: CONSTRUCTION MARKET SIZE, BY REGION, 2018-2021 (USD BILLION)
TABLE 8 POST-COVID-19: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1 APAC
TABLE 9 POST-COVID-19: APAC: CONSTRUCTION MARKET SIZE, BY COUNTRY, 2018-2021 (USD BILLION)
TABLE 10 POST-COVID-19: APAC: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.1 China
8.3.1.1.1 Construction industry heavily dependent on rural migrant workers
TABLE 11 POST-COVID-19: CHINA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.2 Japan
8.3.1.2.1 Economic situation in country under control
TABLE 12 POST-COVID-19: JAPAN: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.3 India
8.3.1.3.1 Construction industry in the country is growing rapidly
TABLE 13 POST-COVID-19: INDIA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.4 Australia
8.3.1.4.1 Construction industry to account for a large share of the overall GDP
TABLE 14 POST-COVID-19: AUSTRALIA: CONSTRUCTION MARKET SIZE, BY TYPE,2018-2021 (USD BILLION)
8.3.1.5 Indonesia
8.3.1.5.1 Construction is one of the prominent industries that support economic growth in the country
TABLE 15 POST-COVID-19: INDONESIA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.6 South Korea
8.3.1.6.1 Government has a high economic interest in residential, commercial, and infrastructure projects
TABLE 16 POST-COVID-19: SOUTH KOREA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.1.7 Rest of APAC
TABLE 17 POST-COVID-19: REST OF APAC: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2 EUROPE
TABLE 18 POST-COVID-19: EUROPE: CONSTRUCTION MARKET SIZE, BY COUNTRY, 2018-2021 (USD BILLION)
TABLE 19 POST-COVID-19: EUROPE: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.1 UK
8.3.2.1.1 Lockdown restrictions and other measures to contain the virus likely to have a positive impact on construction industry
TABLE 20 POST-COVID-19: UK: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.2 Germany
8.3.2.2.1 German construction industry in a relatively good position
TABLE 21 POST-COVID-19: GERMANY: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.3 France
8.3.2.3.1 Revival of construction market expected by end of 2020
TABLE 22 POST-COVID-19: FRANCE: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.4 Italy
8.3.2.4.1 Construction market to witness growth in the near future
TABLE 23 POST-COVID-19: ITALY: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.5 Russia
8.3.2.5.1 Demand for construction material has remained high in the country
TABLE 24 POST-COVID-19: RUSSIA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.6 Spain
8.3.2.6.1 Country witnesses strong and balanced growth
TABLE 25 POST-COVID-19: SPAIN: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.2.7 Rest of Europe
TABLE 26 POST-COVID-19: REST OF EUROPE: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.3 NORTH AMERICA
TABLE 27 POST-COVID-19: NORTH AMERICA: CONSTRUCTION MARKET SIZE, BY COUNTRY, 2018-2021 (USD BILLION)
TABLE 28 POST-COVID-19: NORTH AMERICA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.3.1 US
8.3.3.1.1 Contractors facing difficulties with material supply chain
TABLE 29 POST-COVID-19: US: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.3.2 Canada
8.3.3.2.1 Construction sector relatively less impacted by COVID-19
TABLE 30 POST-COVID-19: CANADA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.3.3 Mexico
8.3.3.3.1 Beginning of recovery amid the resumption of operations
TABLE 31 POST-COVID-19: MEXICO: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.4 MIDDLE EAST & AFRICA
TABLE 32 POST-COVID-19: MIDDLE EAST & AFRICA: CONSTRUCTION MARKET SIZE, BY COUNTRY, 2018-2021 (USD BILLION)
TABLE 33 POST-COVID-19: MIDDLE EAST & AFRICA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.4.1 Saudi Arabia
8.3.4.1.1 Healthcare sector likely to witness an increase in projects
TABLE 34 POST-COVID-19: SAUDI ARABIA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.4.2 UAE
8.3.4.2.1 Construction companies are approaching material suppliers in India, Singapore, Thailand, and the US
TABLE 35 POST-COVID-19: UAE: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.4.3 Nigeria
8.3.4.3.1 COVID-19 pandemic has greatly impacted theconstruction market
TABLE 36 POST-COVID-19: NIGERIA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.4.4 Rest of Middle East & Africa
TABLE 37 POST-COVID-19: REST OF MIDDLE EAST & AFRICA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.5 SOUTH AMERICA
TABLE 38 POST-COVID-19: SOUTH AMERICA: CONSTRUCTION MARKET SIZE, BY COUNTRY, 2018-2021 (USD BILLION)
TABLE 39 POST-COVID-19: SOUTH AMERICA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.5.1 Brazil
8.3.5.1.1 Has potential to become an important market for construction
TABLE 40 POST-COVID-19: BRAZIL: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.5.2 Argentina
8.3.5.2.1 High government investment for road, housing, and sanitation infrastructure
TABLE 41 POST-COVID-19: ARGENTINA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
8.3.5.3 Rest of South America
TABLE 42 POST-COVID-19: REST OF SOUTH AMERICA: CONSTRUCTION MARKET SIZE, BY TYPE, 2018-2021 (USD BILLION)
9 APPENDIX (Page No. - 67)
9.1 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
9.2 AVAILABLE CUSTOMIZATIONS
9.3 RELATED REPORTS
9.4 AUTHOR DETAILS
The study involves two major activities in estimating the current size of the construction industry. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Factiva, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.
The construction industry comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of mainly the residential, non-residential, and heavy & civil engineering sectors. Advancements in technology in various sectors describe the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Following is the breakdown of primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Both the top-down and bottom-up approaches were used to estimate and validate the total construction industry. These methods were also used extensively to determine the size of various sub-segments in the industry. The research methodology used to estimate the market size included the following:
After arriving at the overall construction industry size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the residential, non-residential, and heavy & civil engineering sectors.
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Growth opportunities and latent adjacency in Impact of COVID-19 on Construction Industry Market