Global Construction Industry Forecast - Market Size, Growth Rate And Leading Region, By The Global Market Model

Key insights from the Global Market Model's latest forecast for the construction industry are: Key insights from the Global Market Model's latest forecast for the construction industry are: Market size of construction sector The global construction market was valued at$14393.6 billionin 2022,  accounting for  14.2% of the global GDP.   Construction market growth rate and drivers The market is expected to grow at a compound annual growth rate(CAGR)  of  6.1%  during 2022...

Key insights from the Global Market Model's latest forecast for the construction industry are:

Market size of construction sector

The global construction market was valued at$14393.6 billion in 2022, accounting for 14.2% of the global GDP. 

Construction market growth rate and drivers

The market is expected to grow at a compound annual growth rate (CAGR) of 6.1% during 2022 to 2032 attributing to the following factors -

Largest region in the global construction industry

The USA was the leading market in the construction industry, accounting for 21.6% of the total in 2022.

Construction industry forecast for the coming years

Global Market Model, in its latest forecast for the construction market, has kept the expected forecast growth (CAGR) over the next ten years unchanged. The low housing prices due to high interest rates and fewer mortgages in circulation, were already taken into account during our previous forecasts update. Hence, our forecasts for this market remained same during this update cycle. The demand for construction activities is likely to get impacted due to recession pressure.

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Through the Global Market Model, gain further in-depth insights on the construction industry by analyzing the key industry metrics -

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