Global construction output is expected to grow by 4.0% in 2022
LONDON, 06 July. 2022 (GLOBE NEWSWIRE) — The Construction Market Size, Trends and Growth Forecast by Key Regions and Countries, 2022-2026 report offered by GlobalData Plc provides an overview of the outlook for the global construction industry through to 2026. It offers an analysis of the outlook for the construction industry in the major regions of the world: North America, Latin America, Western Europe, Eastern Europe, South Asia, Southeast Asia , Northeast Asia, Australasia, Middle East and North Africa, and Sub-Saharan Africa.
GlobalData’s baseline scenario for the Russian-Ukrainian conflict is that following negotiations and some flexibility from Russia on the interpretation of its objectives, Russia defines its invasion as a “victory”. , allowing for de-escalation by 2023. Russia would continue to apply leveraged military means against Ukraine while negotiations are ongoing, and sanctions remain against Russia until at least 2023, hampering the resumption of Russia after the decline of 2022. Following the lifting of sanctions, the “self-sanction” begins to subside and the Russian economy reopens. In this scenario, GlobalData forecasts global construction output to grow by 4.0% in 2022 before reaching an average of 3.8% in 2023-2026. However, there are various scenarios that would lead to a worse outcome, for example, one in which the Ukrainian government rejects any request, and Ukrainian resistance and Russian counter-insurgency lead to prolonged instability and could lead to the involvement of other countries.
Mmarket Dynamic in teehe Global construction industry
After making good progress in recovering from the severe recession recorded in 2020 amid widespread disruption caused by restrictions imposed to contain the spread of COVID-19, the global construction industry is once again facing severe headwinds. There is a high degree of uncertainty about the short-term outlook following Russia’s invasion of Ukraine, and the war will exacerbate existing supply chain disruptions and put even greater upward pressure on energy prices, which will further increase the prices of key building materials.
Investment in the residential sector has recovered rapidly and the sector continues to be supported by government support measures and housing construction programs aimed at reducing housing supply shortfalls in many markets. Investment in the infrastructure and energy and utilities sectors was a major driver of the recovery in overall construction output. These sectors grew in 2020 despite the disruptions related to COVID-19, which reflected the efforts of governments and public institutions to accelerate investments in order to stimulate activity. Industrial construction also recovered from the COVID-19-induced slowdown in 2020.
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Regional Outlook of the construction industry
In addition to North America and Northeast Asia, which both saw growth in 2020, Western Europe, Eastern Europe, South Asia and Australasia are expected to generate construction production values in 2021 that will exceed 2019 levels in real (constant price) terms. Other regions except Latin America will have fully rebounded by 2022, with Latin America expected to record production above 2019 levels in 2023.
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Construction market report Scope
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An overview of the outlook for the global construction industry to 2026.
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Analysis of the outlook for the construction industry in the main regions of the world: North America, Latin America, Western Europe, Eastern Europe, South and Southeast Asia, Northeast Asia , Australasia, Middle East and North Africa and Sub-Saharan Africa.
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A comprehensive benchmarking of 91 major construction markets based on construction market value and growth
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Analysis of the latest data on construction production trends in key markets.
Reasons to buy
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Assess regional construction trends from information on production values and forecast data through 2026.
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Identify fastest growers to enable assessment and targeting of business opportunities in markets best suited to strategic direction.
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Identify the drivers of the global construction market and envision the growth of emerging and developed economies. Formulate plans for where and how to engage with the market while minimizing any negative revenue impact.
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Overview of the global construction market
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Key regions |
United States and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, Southeast Asia, Northeast Asia, South Asia, Middle East and North Africa, Sub-Saharan Africa and Australasia |
FAQs
What are the key regions of the global construction industry?
The United States and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, Southeast Asia, Northeast Asia, South Asia, the Middle East and North Africa, Sub-Saharan Africa and Australasia are the major regions of the world. construction industry.
Contents
1. Global Perspectives
2. Regional Perspectives: United States and Canada
2.1 Overview
2.2 Key Updates
3. Regional Perspectives: Latin America
3.1 Overview
3.2 Key Updates
4. Regional Perspectives: Western Europe
4.1 Overview
4.2 Key Updates
5. Regional Perspectives: Eastern Europe and Central Asia
5.1 Presentation
5.2 Key Updates
6. Regional Perspectives: Southeast Asia
6.1 Overview
6.2 Key Updates
7. Regional Perspectives: South Asia
7.1 Overview
7.2 Key Updates
8. Regional Perspectives: Australasia
8.1 Overview
8.2 Key Updates
9. Regional Perspectives: Northeast Asia
9.1 Overview
9.2 Key Updates
10. Regional Perspectives: Middle East and North Africa
10.1 Overview
10.2 Key Updates
11. Regional Perspectives: Sub-Saharan Africa
11.1 Overview
11.2 Key Updates
12. GlobalData Construction
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