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Published: Feb, 2015 | Pages:
87 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)
Synopsis The report Provides the CIC’s view of the outlook to 2020 for the global economy and the global construction industry, and how the industry will evolve in all major countries worldwide. Summary The global construction industry has regained growth momentum, with the pace of expansion accelerating from an annual average of 2.7% a year in real terms in 2011–2013 to 3.1% in 2014. Timetric’s Construction Intelligence Center (CIC) forecasts a further rise to 3.8% in 2015, and then an average annual increase of 3.9% over 2016–2020. Based on the CIC’s Global 50, a grouping of the 50 largest and most influential markets in the world, the global industry is projected to grow from US$7.4 trillion in 2010 to US$8.5 trillion in 2015 and to US$10.3 trillion in 2020, when measured at constant 2010 prices and exchange rates (real 2010 US$). Scope • An overview of the outlook for the global economy • An assessment of the outlook for the global economy, broken down by major regions • A review of global construction risk • Highlights from the CIC's Global Survey on Potential and Challenges in Construction • Profiles for 50 major markets, including an overview, focus points and risk watch Reasons To Buy • Gain an understanding of general state of the global economy and construction industry. • Analyse performance region-by-region and country-by-country and gain insight into key issues affecting the construction industry. • Learn about opinions of key industry leaders on challenges and opportunities, with highlights from CIC surveys, to contrast views with your own and be alerted to issues in new markets. • Review top-line risks in the industry, with country rankings and highlights from CIC Construction Risk Index, to assist in market expansion plans. Key Highlights • Based on the CIC’s Global 50, a grouping of the 50 largest and most influential markets in the world, the global industry is projected to grow from US$7.4 trillion in 2010 to US$8.5 trillion in 2015 and to US$10.3 trillion in 2020, when measured at constant 2010 prices and exchange rates (Real 2010 US$). • The construction industries in emerging markets are forecast to continue to grow at a much faster rate than the advanced economies. With reference to the CIC Global 50, emerging markets accounted for more than half of the world’s construction output for the first time ever in 2012 (at 2010 US$) and by 2020 it will have a 56% share. • From 2016-2020, the construction industries in advanced economies combined are forecast to expand by 2.2% a year on average, while emerging markets will record a 5.3% annual expansion during the same period. However, the advanced economies are at least improving, with growth accelerating from just 0.6% a year on average in 2011-2015. • The construction industries in the Middle East and Africa region are predicted to be the fastest growing in 2016-2020, overtaking the Asia-Pacific region, which held the top spot in 2011-2015. This reflects the huge investment in infrastructure and buildings that is taking place in Qatar, Saudi Arabia and the United Arab Emirates (UAE), while the slowing rate of growth in China’s construction industry is a key factor driving the deceleration in Asia-Pacific. However, Asia-Pacific’s share of the global construction industry will continue to rise, reaching close to 49% in 2020, up from 40% in 2010. • The precarious state of the Eurozone, which has intensified following the election of an anti-austerity party in Greece, will continue to undermine investor confidence in the region. However, in general the worst is over for the region’s construction industry. Many of the countries that had suffered double-digit declines in construction output in the wake of the financial crisis are now turning a corner and starting to grow again. However, reflecting the extent of the decline, it will be after 2020 that the construction industry in Western Europe will return to the pre-crisis levels. The US will also fail to surpass its pre-crisis high by 2020.
Table of Contents 1 Executive Summary 2 Global Economic Outlook 2.1.Still Precarious, But Improving 2.2.Oil Price Fall to Provide Impetus 2.3.Mixed Showing in Emerging Markets 2.4.Europe’s Woes Continue 3 Global Construction Outlook 3.1.In Recovery Mode 3.2.North America 3.3.Western Europe 3.4.Eastern Europe 3.5.Latin America 3.6.Asia-Pacific 3.7.Middle East and Africa 4 Global Construction Risk Review 4.1.Highlights 4.2.Market Risk 4.3.Operating Risk 4.4.Economic Risk 4.5.Financial Risk 4.6.Political Risk 4.7.CRI Methodology Brief 5 Global Survey on Potential and Challenges in Construction 5.1.Market Attractiveness 5.2.Growth Opportunities in Sectors 5.3.Challenges to Growth Prospects 5.4.Winning and Maintaining Business 6 North America Country Profiles Canada US 7 Western Europe Country Profiles Austria Belgium Denmark Finland France Germany Greece Ireland Italy The Netherlands Portugal Spain Sweden Switzerland The UK 8 Eastern Europe Country Profiles The Czech Republic Hungary Poland Romania Russia Turkey 9 Middle East and Africa Country Profiles Algeria Egypt Morocco Qatar Saudi Arabia South Africa Tunisia The UAE 10 Asia-Pacific Country Profiles Australia China Hong Kong India Indonesia Japan Malaysia Philippines Singapore South Korea Thailand Vietnam 11 Latin America Country Profiles Argentina Brazil Chile Colombia Mexico Peru Venezuela 12 Appendix 12.1.About Timetric 12.2.Disclaimer"
List of Tables Table 1: Global Economic Growth (% Ann), 2013–2020 Table 2: Economic Growth, Country Ranking (% Ann), 2013–2020 Table 3: Global Construction Output Growth (% Ann), 2011–2015 and 2016–2020 Table 4: North America, Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 5: Western Europe Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 6: Eastern Europe Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 7: Latin America Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 8: Asia-Pacific Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 9: Middle East and Africa Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 10: Global Ranking of Construction Output Value (Real 2010 US$ Billion), 2010, 2015 and 2020 Table 11: Global Risk Rankings List of Figures Figure 1: North America, Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 2: Western Europe Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 3: Eastern Europe Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 4: Latin America Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 5: Asia-Pacific Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 6: Middle East and Africa Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 7: Global Construction Output Value by Region (Real 2010 US$ Billion), 2007–2020 Figure 8: Global Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 9: Global Construction Output Value by Region (Nominal US$ Billion), 2015 Figure 10: Global Infrastructure Construction Output Value by Region (Nominal US$ Billion), 2015 Figure 11: Global Residential Construction Output Value by Region (Nominal US$ Billion), 2015 Figure 12: Global Industrial Construction Output Value by Region (Nominal US$ Billion), 2015 Figure 13: Construction Output Value Growth (% Ann), 2011–15 Figure 14: Construction Output Value Growth (% Ann), 2016–2020 Figure 15: Regions Regarded as “Very Attractive” or “Attractive”, % of Respondents Figure 16: Sectors Offering Greatest Growth Potential, % of Respondents Figure 17: Challenges Considered to be “Significant”, % of Respondents Figure 18: Strategies to Win or Maintain Business, % of Respondents Figure 19: Canada Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 20: Canada Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 21: US Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 22: US Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 23: Austria Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 24: Austria Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 25: Belgium Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 26: Belgium Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 27: Denmark Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 28: Denmark Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 29: Finland Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 30: Finland Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 31: France Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 32: France Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 33: Germany Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 34: Germany Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 35: Greece Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 36: Greece Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 37: Ireland Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 38: Ireland Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 39: Italy Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 40: Italy Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 41: Netherlands Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 42: Netherlands Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 43: Portugal Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 44: Portugal Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 45: Spain Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 46: Spain Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 47: Sweden Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 48: Sweden Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 49: Switzerland Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 50: Switzerland Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 51: UK Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 52: UK Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 53: Czech Republic Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 54: Czech Republic Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 55: Hungary Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 56: Hungary Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 57: Poland Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 58: Poland Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 59: Romania Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 60: Romania Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 61: Russia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 62: Russia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 63: Turkey Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 64: Turkey Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 65: Algeria Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 66: Algeria Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 67: Egypt Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 68: Egypt Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 69: Morocco Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 70: Morocco Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 71: Qatar Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 72: Qatar Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 73: Saudi Arabia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 74: Saudi Arabia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 75: South Africa Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 76: South Africa Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 77: Tunisia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 78: Tunisia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 79: UAE Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 80: UAE Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 81: Australia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 82: Australia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 83: China Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 84: China Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 85: Hong Kong Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 86: Hong Kong Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 87: India Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 88: India Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 89: Indonesia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 90: Indonesia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 91: Japan Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 92: Japan Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 93: Malaysia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 94: Malaysia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 95: Philippines Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 96: Philippines Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 97: Singapore Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 98: Singapore Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 99: South Korea Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 100: South Korea Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 101: Thailand Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 102: Thailand Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 103: Vietnam Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 104: Vietnam Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 105: Argentina Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 106: Argentina Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 107: Brazil Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 108: Brazil Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 109: Chile Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 110: Chile Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 111: Colombia Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 112: Colombia Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 113: Mexico Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 114: Mexico Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 115: Peru Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 116: Peru Construction Output Value by Sector (Nominal US$ Million), 2015 Figure 117: Venezuela Construction Output Value (Real 2010 US$ Billion), 2007–2020 Figure 118: Venezuela Construction Output Value by Sector (Nominal US$ Million), 2015
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