The global construction output is expected to grow by 4.0% in 2022

/EIN News/ -- LONDON, July 06, 2022 (GLOBE NEWSWIRE) -- The Construction Market Size, Trends and Growth Forecasts by Key Regions and Countries, 2022-2026 report offered by GlobalData Plc provides an overview of the outlook for the global construction industry to 2026. It offers an analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South Asia, South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa.

GlobalData’s base case scenario for the Russia-Ukraine conflict is that following negotiation and some flexibility from Russia on the interpretation of its aims, Russia defines its invasion as a ‘victory’, allowing for de-escalation by 2023. Russia would continue to apply military leverage against Ukraine while negotiations are ongoing, and sanctions remain on Russia until at least 2023, holding back Russia’s recovery from the 2022 decline. Following the lifting of sanctions, ‘self-sanctioning’ begins to ease and the Russian economy re-opens. Under this scenario, GlobalData sees global construction output growing by 4.0% in 2022 before averaging 3.8% in 2023-2026. However, there are various scenarios that would result in a worse outcome, for example, one in which Ukraine’s government rejects any demands, and Ukrainian resistance and Russian counter-insurgency results in prolonged instability and potentially drawing the involvement of other countries.

Market Dynamics in the Global Construction Industry
Having made good progress in recovering from the severe downturn recorded in 2020 amid the widespread disruption caused by restrictions imposed to contain the spread of COVID-19, the global construction industry is again facing severe headwinds. There is a high degree of uncertainty over 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 drive up prices for key construction materials.

Investment in the residential sector has recovered quickly, and the sector continues to be buoyed by government support measures and housebuilding programs aimed to narrow housing supply deficits in many markets. Investment in the infrastructure and energy and utilities sectors has been a major driver of the recovery in overall construction output. These sectors expanded in 2020 despite COVID-19 disruptions, which reflected the efforts by governments and public institutions to accelerate investment to stimulate activity. Industrial construction has also been recovering from the COVID-19-induced downturn in 2020.

For more insights on the global construction industry, download a sample report

Regional Outlook of the Construction Industry

• US and Canada
• Latin America
• Western Europe
• Eastern Europe and Central Asia
• South-East Asia
• North-East Asia
• South Asia
• Middle East & North Africa
• Sub-Saharan Africa
• Australasia

In addition to North America and North-East Asia, which both posted growth in 2020, Western Europe, Eastern Europe, South Asia, and Australasia are expected to generate construction output values in 2021 that will surpass the 2019 levels in real (constant prices) terms. The other regions, except Latin America, will have fully rebounded by 2022, with Latin America expected to record output above 2019 levels in 2023.

For more regional insights of the global construction market, download a sample report

Construction Market Report Scope

• An overview of the outlook for the global construction industry to 2026.
• Analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South and South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa.
• A comprehensive benchmarking of 91 leading construction markets according to construction market value and growth
• Analysis of the latest data on construction output trends in key markets.

Reasons to Buy

• Evaluate regional construction trends from insight on output values and forecast data to 2026.
• Identify the fastest growers to enable assessment and targeting of commercial opportunities in the markets best suited to strategic focus.
• Identify the drivers in the global construction market and consider growth in emerging and developed economies. Formulate plans on where and how to engage with the market while minimizing any negative impact on revenues.
  

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Global Construction Market Overview

Key Regions

US and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, South-East Asia, North-East Asia, South Asia, Middle East & North Africa, Sub-Saharan Africa, and Australasia

FAQs

Which are the key regions in the global construction industry?
The US and Canada, Latin America, Western Europe, Eastern Europe and Central Asia, South-East Asia, North-East Asia, South Asia, Middle East & North Africa, Sub-Saharan Africa, and Australasia are the key regions in the global construction industry.

Table of Contents

1. Global Outlook

2. Regional Outlook: US and Canada

2.1 Overview

2.2 Key Updates

3. Regional Outlook: Latin America

3.1 Overview

3.2 Key Updates

4. Regional Outlook: Western Europe

4.1 Overview

4.2 Key Updates

5. Regional Outlook: Eastern Europe and Central Asia

5.1 Overview

5.2 Key Updates

6. Regional Outlook: South-East Asia

6.1 Overview

6.2 Key Updates

7. Regional Outlook: South Asia

7.1 Overview

7.2 Key Updates

8. Regional Outlook: Australasia

8.1 Overview

8.2 Key Updates

9. Regional Outlook: North-East Asia

9.1 Overview

9.2 Key Updates

10. Regional Outlook: Middle East and North Africa

10.1 Overview

10.2 Key Updates

11. Regional Outlook: Sub-Saharan Africa

11.1 Overview

11.2 Key Updates

12. GlobalData Construction

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