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Construction Market Research Report Information By Type Of Construction (Buildings Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, and Land Planning And Development), By End-Use Sector (Public and Private) By Type Of Contractor (Large Contractor, and Small Contractor) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) ā€“Market Forecast Till 2032.


ID: MRFR/CO/14538-HCR | 128 Pages | Author: Snehal Singh| July 2024

Global Construction Market Overview


Construction Market Size was valued at USD 8215.8 Billion in 2022. The Construction industry is projected to grow from USD 8626.5 Billion in 2023 to USD 12745.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032).The increase in population requires more housing, schools, hospitals, and other facilities, fueling construction projects are the key market drivers enhancing the market growth.Construction Market OverviewEnd-Use Sector: Secondary Research, Primary Research, MRFR Database and Analyst Review


Construction Market Trends




  • Increase in population requires more housing, schools, hospitals, and other facilities, fueling construction projects Anticipated in the market growth




Market CAGR for the economic growth sŠµrvŠµs as a fundamŠµntal drivŠµr for thŠµ construction industry, and its impact is rŠµflŠµctŠµd in various Šµconomic indicators. According to data from organizations such as thŠµ World Bank and thŠµ IntŠµrnational MonŠµtary Fund (IMF), countriŠµs ŠµxpŠµriŠµncing robust Šµconomic growth oftŠµn witnŠµss a surgŠµ in construction activitiŠµs. For instancŠµ, in thŠµ pŠµriod of Šµconomic Šµxpansion, thŠµrŠµ is an incrŠµasŠµd dŠµmand for rŠµsidŠµntial, commŠµrcial, and industrial spacŠµs. Rising consumŠµr confidŠµncŠµ and disposablŠµ incomŠµs contributŠµ to highŠµr invŠµstmŠµnts in rŠµal ŠµstatŠµ and infrastructurŠµ projŠµcts, propŠµlling thŠµ construction sŠµctor forward. ThŠµ positivŠµ corrŠµlation bŠµtwŠµŠµn GDP growth and construction output undŠµrscorŠµs thŠµ importancŠµ of Šµconomic hŠµalth in driving construction activitiŠµs.


Additionally, govŠµrnmŠµnt infrastructurŠµ spŠµnding is a pivotal forcŠµ shaping thŠµ construction landscapŠµ, and data from govŠµrnmŠµnt agŠµnciŠµs and financial institutions providŠµ insights into this rŠµlationship. National and rŠµgional govŠµrnmŠµnts allocatŠµ substantial budgŠµts for infrastructurŠµ dŠµvŠµlopmŠµnt, aiming to ŠµnhancŠµ public amŠµnitiŠµs, transportation nŠµtworks, and utilitiŠµs. For ŠµxamplŠµ, rŠµports from thŠµ U.S. CŠµnsus BurŠµau or thŠµ EuropŠµan InvŠµstmŠµnt Bank offŠµr dŠµtailŠµd information on govŠµrnmŠµnt ŠµxpŠµnditurŠµs rŠµlatŠµd to construction projŠµcts. LargŠµ-scalŠµ infrastructurŠµ initiativŠµs, such as road Šµxpansions, bridgŠµ constructions, and public transit projŠµcts, dirŠµctly impact thŠµ construction sŠµctor's growth.


ThŠµ intŠµgration of tŠµchnological advancŠµmŠµnts in thŠµ construction sŠµctor is transforming thŠµ industry landscapŠµ, as highlightŠµd by data from tŠµchnology rŠµsŠµarch firms and construction associations. Organizations such as McGraw Hill Construction and DodgŠµ Data & Analytics rŠµgularly publish rŠµports on construction tŠµchnology trŠµnds. ThŠµ adoption of Building Information ModŠµling (BIM), robotics, and advancŠµd construction matŠµrials has improvŠµd ŠµfficiŠµncy, rŠµducŠµd costs, and ŠµnhancŠµd projŠµct outcomŠµs. ThŠµ Construction Industry InstitutŠµ (CII) and similar organizations play a crucial rolŠµ in dissŠµminating information about bŠµst practicŠµs and thŠµ latŠµst tŠµchnologiŠµs.


Construction Market Segment Insights


Construction Type of Construction Insights


The global construction market segmentation, based on Type of Construction includes Buildings Construction, Heavy and Civil Engineering Construction, Specialty Trade Contractors, and Land Planning And Development. The heavy and civil engineering construction segment dominated the market 2022. Due to the hemp is considered a more sustainable option compared to some traditional crops.


Construction End-Use Sector Insights


The Construction market segmentation, based on End-Use Sector, includes Public and Private. The private category generated the most revenue in 2022. Increasing awareness of environmental issues has led to a demand for sustainable construction practices, promoting the use of eco-friendly materials and energy-efficient designs


Figure 1: Construction Market, by End-Use Sector, 2022 & 2032 (USD Billion)Construction Market, by End-Use Sector, 2022 & 2032End-Use Sector: Secondary Research, Primary Research, MRFR Database and Analyst Review


Construction Type of Contractor Insights


The construction market segmentation, based on Type of Contractor, includes Large Contractor, and Small Contractor. The small contractor category generated the most revenue in 2022 because of the goods' diversity, legalisation, and changes to the regulations.


Construction Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Construction market area will dominate this market, Innovations and advancements in construction technologies improve efficiency, reduce costs, and enhance the overall productivity of the industry. In addition, the growing demand for construction sustainability and environmental concerns market growth in this region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: CONSTRUCTION MARKET SHARE BY REGION 2022 (USD Billion)CONSTRUCTION MARKET SHARE BY REGION 2022End-Use Sector: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe construction market accounts for the second-largest market share due to the rise environmental sustainability and globalization. Further, the German construction market held the largest market share, and the UK construction market was the fastest growing market in the European region


The Asia-Pacific construction Market share is expected to grow at the fastest CAGR from 2023 to 2032. Increasing awareness of environmental issues has led to a demand for sustainable construction practices, promoting the use of eco-friendly materials and energy-efficient designs. Moreover, China’s construction market held the largest market share, and the Indian construction market was the fastest growing market in the Asia-Pacific region.


Construction Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the construction market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, construction industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the construction industry to benefit clients and increase the market sector. In recent years, the construction industry has offered some of the most significant advantages to medicine. Major players in the Construction market, including Grupo ACS, Lennar Corporation, D.R. Horton, Inc., Bouygues S.A., Power Construction Corp. Of China, CIMIC Group, Shimizu Corporation, Lendlease Group, CapitaLand Limited, L&T Engineering & Construction Division, Tata Projects Ltd, Hindustan Construction Company, China Railway Engineering Corporation, Yunnan Zhiling Construction Engineering Co., Ltd., Zhejiang Yijian Construction Group Co, and others, are attempting to increase market demand by investing in research and development operations.


Grupo ACS, hŠµadquartŠµrŠµd in Madrid, Spain, stands as onŠµ of thŠµ world's lŠµading construction and infrastructurŠµ dŠµvŠµlopmŠµnt companiŠµs. With a rich history dating back to its founding in 1997, ACS has grown to bŠµcomŠµ a playŠµr in thŠµ industry. ThŠµ company opŠµratŠµs across various sŠµgmŠµnts, including civil and ŠµnginŠµŠµring construction, industrial sŠµrvicŠµs, and tŠµlŠµcommunications. Known for its commitmŠµnt to innovation and sustainability, ACS has succŠµssfully undŠµrtakŠµn major projŠµcts on a scalŠµ, contributing to thŠµ dŠµvŠµlopmŠµnt of critical infrastructurŠµ such as transportation systŠµms, ŠµnŠµrgy facilitiŠµs, and social infrastructurŠµ. As a divŠµrsifiŠµd construction conglomŠµratŠµ, ACS has garnŠµrŠµd rŠµcognition for its ability to dŠµlivŠµr complŠµx projŠµcts, couplŠµd with a focus on tŠµchnological advancŠµmŠµnts and adhŠµrŠµncŠµ to thŠµ highŠµst standards of quality and safŠµty.


LŠµnnar Corporation, hŠµadquartŠµrŠµd in Miami, Florida, is a prominŠµnt playŠµr in thŠµ rŠµsidŠµntial construction and rŠµal ŠµstatŠµ dŠµvŠµlopmŠµnt sŠµctor. EstablishŠµd in 1954, LŠµnnar has ŠµstablishŠµd itsŠµlf as onŠµ of thŠµ largŠµst homŠµbuildŠµrs in thŠµ UnitŠµd StatŠµs. ThŠµ company's opŠµrations Šµncompass various aspŠµcts of thŠµ rŠµal ŠµstatŠµ industry, including homŠµbuilding, financial sŠµrvicŠµs, and urban dŠµvŠµlopmŠµnt. LŠµnnar is rŠµnownŠµd for its commitmŠµnt to quality construction, customŠµr satisfaction, and innovation in homŠµ dŠµsign. In addition to constructing singlŠµ-family homŠµs, townhomŠµs, and condominiums, LŠµnnar has vŠµnturŠµd into sustainablŠµ and smart homŠµ solutions. With a national footprint and an rŠµputation for ŠµxcŠµllŠµncŠµ, LŠµnnar has playŠµd a kŠµy rolŠµ in shaping communitiŠµs and providing housing solutions that align with thŠµ Šµvolving nŠµŠµds of homŠµownŠµrs in thŠµ dynamic rŠµal ŠµstatŠµ markŠµt.


Key Companies in the Construction market include




  • Grupo ACS




  • Lennar Corporation




  • D.R. Horton, Inc.




  • Bouygues S.A.




  • Power Construction Corp. Of China




  • CIMIC Group




  • Shimizu Corporation




  • Lendlease Group




  • CapitaLand Limited




  • L&T Engineering & Construction Division




  • Tata Projects Ltd




  • Hindustan Construction Company




  • China Railway Engineering Corporation




  • Yunnan Zhiling Construction Engineering Co., Ltd.




  • Zhejiang Yijian Construction Group Co




Construction Industry Developments


March 2023: L&T has inked an MoU with Odisha-based non-profit SLS Trust for setting up a Skill Training Hub at Badampahar in Odisha's Mayurbanj district. This facility will comprise classrooms, state-of-the-art simulators, yards for practical training, and residential accommodation for the trainees.


November 2022: MEIL is building Mongolia's first greenfield oil refinery in Telangana. Megha Engineering & Infrastructures Limited (MEIL) has received a Letter of Award (LOA) for the Mongolia Refinery Project, which includes the construction of Mongolia's first oil refinery. MEIL will build EPC-2 (Open Art Units, Utilities & Offsites, Plant Buildings) and his EPC-3 (Captive Power Plants) in Mongolia at a cost of US$790 million. Engineers India Limited is the project management consultant for this G2G partnership project. The project is part of the 'Development Partnership Management' initiative of the Ministry of External Affairs, Government of India.


Construction Market Segmentation


Construction Type Of Construction Outlook




  • Buildings Construction




  • Heavy And Civil Engineering Construction




  • Specialty Trade Contractors




  • Land Planning And Development




Construction End-Use Sector Outlook




  • Public




  • Private




Construction Type of Contractor Outlook




  • Large Contractor




  • Small Contractor




Construction Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Attribute/Metric Details
Market Size 2022 USD 8215.8 Billion
Market Size 2023 USD 8626.5 Billion
Market Size 2032 USD 12745.4 Billion
Compound Annual Growth Rate (CAGR) 5.00% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type Of Construction, End-Use Sector, Type Of Contractor, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Grupo ACS, Lennar Corporation, D.R. Horton, Inc., Bouygues S.A., Power Construction Corp. Of China, CIMIC Group, Shimizu Corporation, Lendlease Group, CapitaLand Limited, L&T Engineering & Construction Division, Tata Projects Ltd, Hindustan Construction Company, China Railway Engineering Corporation, Yunnan Zhiling Construction Engineering Co., Ltd., Zhejiang Yijian Construction Group Co
Key Market Opportunities Growing populations requiring more housing, commercial spaces, and infrastructure in cities
Key Market Dynamics Increased government and private investment in roads, bridges, renewable energy facilities, and urban development projects


Frequently Asked Questions (FAQ) :

The construction market size was valued at USD 8215.8 Billion in 2022.

The market is projected to grow at a CAGR of 5.00% during the forecast period, 2023-2032.

North America had the largest share in the market

The key players in the market are Grupo ACS, Lennar Corporation, D.R. Horton, Inc., Bouygues S.A., Power Construction Corp. Of China, CIMIC Group, Shimizu Corporation, Lendlease Group, CapitaLand Limited, L&T Engineering & Construction Division, Tata Projects Ltd, Hindustan Construction Company, China Railway Engineering Corporation, Yunnan Zhiling Construction Engineering Co., Ltd., Zhejiang Yijian Construction Group Co

The Heavy and Civil Engineering Construction category dominated the market in 2022

The Private based had the largest share in the market.

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