CIC - Construction Intelligence Center

Global Construction Outlook to 2022 (Q3 2018) - Key Highlights

  • Published:Thursday, September 27, 2018


GlobalData expects the global construction industry to grow by 3.6% a year on average over the forecast period (2018–2022). Growth will improve slightly to 3.7% in 2019–2020, before easing back, in part reflecting trends in some of the largest markets, notably China and the US.

 

The improvement in global construction output growth in 2018, accelerating from 3.1% in 2017, reflects the recovery in the US as well as general improvements across the emerging markets. In South and South-East Asia, for example, construction in India has regained growth momentum, while the pick-up in oil prices has supported the recovery in the Middle East and Africa.  In the US, the president, Donald Trump, hopes to speed up growth in the US economy by cutting taxes, slashing regulation and increasing infrastructure spending; so far, however, much of Trump's economic agenda has not made it through Congress. GlobalData remains bearish over the political reality of the expanded US$1.5 trillion infrastructure plan, and does not expect to see such an enormous investment. Nevertheless, the construction outlook for the US in 2018–2019 remains solid, and GlobalData expects to see ongoing investment in the sector over the forecast period.

Growth in emerging markets will remain in excess of that in advanced economies over the forecast period, and will steadily gather pace in 2018–2020. Although construction output growth in China is set to slow, to average 4.2% in 2018–2022, this will be offset by an acceleration in construction growth in India. The expansion in advanced economies will remain stable, at 2.5% in 2019–2020 before easing back over the remainder of the forecast period.

To download the summary, please complete the request form opposite. Once submitted, you will see an option to ‘Download’.


Related Insights:


Download copy

Finally, complete a quick security check and confirm terms and conditions:

I consent to GlobalData collecting my details provided via this form

GlobalData uses the information in this form to provide you with occasional updates on new products and reports in accordance with your preferences. You are in control of the communications you receive from us and you can update your preferences anytime to make sure you are receiving information that matters to you. Please check our Privacy Policy to see how we protect and manage your submitted data.

GlobalData occasionally shares data, on a secure basis, with other reputable companies who may wish to contact you with information about products and services. If not required please uncheck this box.

Download