Impact of COVID-19 on Construction Market

Impact of COVID-19 on Construction Market worth $11,496.7 billion by 2021

The report "Impact of COVID-19 on Construction Industry by Type (Residential, Non-Residential, and Heavy & Civil Engineering) and Region – Global Forecast To 2021" 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 decline in 2020 due to supply chain disruption caused by the COVID-19 pandemic.

Browse 42 market data Tables and 14 Figures spread through 70 Pages and in-depth TOC on "Impact of COVID-19 on Construction Industry by Type (Residential, Non-Residential, and Heavy & Civil Engineering) and Region – Global Forecast To 2021"
View detailed Table of Content here -
https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-construction-market-65270035.html

The residential sector comprises a major share of the construction industry.

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 the shifting of the impact to the global construction supply chains and markets.

Operations have to be stopped or limited in to adhere to the government rules for ensuring the safety of the employees. However, many companies are still operating in some countries where the construction industry is listed under essential activities. For many companies, the digitally-enabled functions, for instance, design, can continue, but the operational or site-related work is completely suspended. Labor shortage, near-total restrictions on logistics and transport have disrupted supply chains, creating a scarcity of raw materials.

APAC is expected to account for the largest share in the construction industry during the forecast period.

APAC is the largest construction market. The major international players are exploring opportunities in the region owing to cheap labor, raw materials, and high demand from various sectors such as residential, non-residential, and heavy & civil engineering. However, COVID-19 has affected the entire world disastrously, and APAC is one of the most affected regions, globally. The deadly virus has affected various major markets in APAC, including China and India. It has forced the government to lock down the that resulted in slow down across all the sectors.

The key players in the construction industry include 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. These players have taken different organic and inorganic developmental strategies over the past five years.

Don’t miss out on business opportunities in Impact of COVID-19 on Construction Industry. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
BC 7744
PR Published ON
9/10/2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Impact of COVID-19 on Construction Industry Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2020 MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home