DUBLIN, Oct. 19, 2023 /PRNewswire/ — In light of the recent revelations from JLL’s Construction Market Intelligence report, which showcased the robust performance of the construction sector in the MENA region during H1 2023, there’s a growing demand for a comprehensive analysis of the global construction landscape. Addressing this need, the “Construction Market Size, Trends and Growth Forecasts by Key Regions and Countries, 2023-2027” report has been added to ResearchAndMarkets.com’s offering.
This meticulously crafted report delves into the prospects of the global construction industry up to 2027. Despite a projected slowdown with an expansion of just 0.7% in 2023, down from 2.2% in the previous year, the industry remains a focal point for business entrepreneurs and managers aiming to navigate the evolving construction landscape.
While global challenges persist, such as high inflation and dampened investment due to a tightening in monetary policy, regions like the MENA are bucking the trend. For instance, Saudi Arabia and the UAE have accounted for a staggering 67% of the $101 billion worth of projects awarded in the region in the first half of the year. Such insights underscore the importance of nuanced, region-specific analyses, as provided in our report.
Excluding the behemoth that is China, the construction sector globally is expected to contract by 0.7% in 2023. This decline is attributed to ongoing challenges in major markets, particularly the US and Western Europe. However, it’s essential to note that residential construction had shown significant recovery post the 2020 downturn, driven by government schemes and accumulated household savings. Unfortunately, with the upsurge in construction costs and rising interest rates, the residential sector’s growth decelerated in 2022 and is foreseen to shrink further in the upcoming years.
Key Features of the Report Include:
- An extensive outlook for the global construction industry up to 2027.
- In-depth analysis of construction trends in major global regions including North America, Latin America, both Western and Eastern Europe, various parts of Asia, the Middle East, North Africa, and Sub-Saharan Africa.
- Benchmarking of 91 leading construction markets based on market value and growth.
- Latest data insights on construction output trends in pivotal markets.
Why This Report is Crucial for Business Entrepreneurs and Managers:
- Obtain a comprehensive understanding of regional construction trends. With insights on output values and forecast data up to 2026, businesses can identify rapid growth areas, enabling them to target commercial opportunities in markets best suited for strategic expansion.
- Understand the driving factors in the global construction market and discern growth patterns in both emerging and developed economies. With this knowledge, businesses can formulate strategies to engage with the market effectively, maximising potential revenues and minimising adverse impacts.
In a world where the construction landscape is rapidly changing, driven by both global economic factors and region-specific dynamics, the report is an invaluable resource for those looking to stay ahead of the curve. Be it a business entrepreneur scouting for new opportunities or a manager aiming to hedge against market volatility, “Construction Market Size, Trends and Growth Forecasts by Key Regions and Countries, 2023-2027” provides the insights needed to make informed decisions.
For further details and to purchase the report, please visit https://www.researchandmarkets.com/r/ga0w59
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SOURCE Research and Markets
