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全球建設業預測

Global Construction Outlook to 2023 - Q3 2019 Update

出版商 GlobalData 商品編碼 661514
出版日期 內容資訊 英文 85 Pages
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全球建設業預測 Global Construction Outlook to 2023 - Q3 2019 Update
出版日期: 2019年09月27日內容資訊: 英文 85 Pages
簡介

全球建設業的成長率,預計2018年∼2022年以3.6%的年複合成長率成長。全球建設業的產量,2022年預計達到12兆7000億美元。

本報告提供全球建設業調查分析,全球概要,各地區的分析,主要市場基準,最新資料分析等系統性資訊。

第1章 全球預測

第2章 各地區的預測:美國,加拿大

  • 概要
  • 最新資訊

第3章 各地區的預測:南美

  • 概要
  • 最新資訊

第4章 各地區的預測:西歐

  • 概要
  • 最新資訊

第5章 各地區的預測:東歐,中亞

  • 概要
  • 最新資訊

第6章 各地區的預測:南亞,東南亞

  • 概要
  • 最新資訊

第7章 各地區的預測:澳大拉西亞

  • 概要
  • 最新資訊

第8章 各地區的預測:東北亞

  • 概要
  • 最新資訊

第9章 各地區的預測:中東,北非

  • 概要
  • 最新資訊

第10章 各地區的預測:撒哈拉以南的非洲

  • 概要
  • 最新資訊

第11章 附錄

本網頁內容可能與最新版本有所差異。詳細情況請與我們聯繫。

目錄
Product Code: GDCN0016GO

This report provides a detailed analysis of the prospects for the global construction industry up to 2023.

GlobalData has revised downwards its forecast for global construction output growth in 2019 to 2.7%, which will be the slowest pace of growth in a decade. The deterioration in construction output growth across emerging markets has been worse than previously expected, particularly in the Middle East, while some major advanced economies have struggled to generate growth momentum, including the US, the UK and Australia.

In China, where the authorities are stepping up investment in infrastructure to prevent a continued slowdown, growth will remain positive, contributing to a slight acceleration in growth in total output in the emerging markets. GlobalData's central forecast is for global construction output growth to edge up to 3.2% in 2020 and then to stabilize at 3.4% over the remainder of the forecast period, which runs to 2023. This is in part driven by a projected improvement in the global economy in 2020, which in turn relies improvements in financial market sentiment and a stabilization in some of the large currently-troubled emerging markets.

However, geopolitical risks are intensifying, and could potentially undermine investor confidence and disrupt capital flows in the early part of the forecast period. Risks to the overall forecast stem primarily from a possible escalation in the trade war between the US and China, and also inflamed tensions between the US and Iran following the recent drone strikes on Saudi Arabia's largest oil processing center, which have been blamed on Iran.

There is also a risk that China could overstep its efforts to support the economy, resulting in an unmanageable debt crisis, which would disrupt investment trends globally, most notably via the impact on demand in commodities markets. There are also other major emerging markets facing domestic political and economic stresses that could erupt into full-blown crises, creating a risk of contagion across these markets.

Key Highlights

The pace of growth in North America's construction industry is expected to remain weak in 2019-2020, averaging 0.4%, before regaining momentum over the remainder of the forecast period as ongoing investments in infrastructure development will provide support for the region's construction industry. Construction in the US has been particularly weak so far in 2019 owing to a dismal performance in the residential buildings sector. Activity in Latin America has also been very weak, and GlobalData now expects the region's construction output to contract by 0.2% owing to particularly poor performances in Argentina, Brazil and Mexico. There will be a recovery in Latin America in 2020, but the region's construction industry will continue to be subject to downside risks, with investor sentiment undermined by policy uncertainty and economic fragility.

The Asia-Pacific region will continue to account for the largest share of the global construction industry, given that it includes the large markets of China, Japan and India. The pace of growth over the forecast period will average 4.3%, which is down from the 5.2% in the past five years. Although there will be an acceleration in growth in China in 2019, the general trend is one of slowing growth given the need for China's government to try to curb excessive investment and avoid a disorderly debt crisis.

Moreover, reflecting recent years of overinvestment in residential construction and the resulting glut of new residential properties, building construction output growth will also decelerate. There will also be weakness in South Korea, which is experiencing a sharp contraction in construction works. In India, positive developments in economic conditions, improvement in investor confidence and investments in transport infrastructure, energy and housing projects have helped the construction industry regain growth momentum. The emerging markets of South-East Asia will invest heavily in new infrastructure projects, supported by private investment, and this region will be the fastest growing, expanding by 6.4% in 2019-2023. Australia's construction industry has plummeted, and GlobalData now expects a 6.3% fall in 2019, in line with the sharp contraction in buildings work and a slower than expected rebound in infrastructure.

Construction activity growth in Western Europe is forecast to decelerate in 2019 and 2020. Reflecting the intensifying uncertainty in the UK over the Brexit process, and the likelihood of a sub-optimal outcome in terms of disruption to the economy, GlobalData has adjusted downwards its forecast for construction growth in the UK. In Germany, although the construction industry has been outperforming the overall economy, the gloomier outlook for the German economy means that construction will be dragged down. Nevertheless, ongoing efforts by the government to upgrade the country's transport infrastructure on the back of the growing population and growth in the manufacturing, retail and tourism sectors will still provide support to the industry. Monetary policy within the EU will remain accommodating for much of the forecast period, given subdued inflationary pressures and moderate levels of economic growth.

Construction activity across Eastern Europe expanded at a rapid pace in 2018, primarily reflecting recovery in a number of markets, as EU funding was restarted after a hold-up in 2016. There will be a return to more normal rates of growth from 2019, but construction in Turkey is set to suffer from the effects of instability in the economy, with higher interest rates and rising risk premiums undermining the outlook for economic growth. In Russia, construction grew sharply in 2018, but it has remained fairly flat so far in 2019. However, investment in residential and infrastructure projects in addition to a recovery in the oil and gas sector will support a recovery in Russia's construction output.

Growth in the Middle East and Africa region as a whole will steadily improve over the forecast period, following a contraction in 2018 and a relatively lackluster performance in 2019. Countries in the Gulf Cooperation Council (GCC) have suffered from weakness in oil prices in recent years, as government revenues have been greatly reduced. Assuming oil prices stay relatively high, large-scale investment in infrastructure projects - mostly related to transport - will be a key driving force behind the growth in the region. However, the construction booms in a number of markets, notably Qatar, appear to have run their course. The pace of growth in sub-Saharan Africa will be particularly strong, averaging 6.0% a year in 2019-2023. There will be a steady acceleration in construction activity in Nigeria, supported by government efforts to revitalize the economy by focusing on developing the country's infrastructure. Ethiopia will be Africa's star performer, with its construction industry continuing to improve in line with the country's economic expansion, but the pace of expansion will ease back to single-digits.

Scope

  • An overview of the outlook for the global construction industry to 2023
  • 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 92 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 2023. 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.

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 AND SOUTH-EAST ASIA

  • 6.1. Overview
  • 6.2. Key Updates

7. REGIONAL OUTLOOK: AUSTRALASIA

  • 7.1. Overview
  • 7.2. Key Updates

8. REGIONAL OUTLOOK: NORTH-EAST ASIA

  • 8.1. Overview
  • 8.2. Key Updates

9. REGIONAL OUTLOOK: MIDDLE EAST AND NORTH AFRICA

  • 9.1. Overview
  • 9.2. Key Updates

10. REGIONAL OUTLOOK: SUB-SAHARAN AFRICA

  • 10.1. Overview
  • 10.2. Key Updates

11. ABOUT GLOBALDATA

  • 11.1. GlobalData at a Glance
  • 11.2. GlobalData Construction
  • 11.3. Disclaimer
  • 11.4. Contact Us

List of Tables

  • Table 1: Global Construction Output Growth (Real, % change), 2018-2023
  • Table 2: US and Canada, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 3: Latin America, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 4: Western Europe, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 5: Eastern Europe and Central Asia, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 6: South and South-East Asia, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 7: North-East Asia, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 8: Australasia, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 9: Middle East and North Africa, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 10: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 billion), 2014-2023
  • Table 11: US and Canada, Construction Output Growth (Real, % change)
  • Table 12: Latin America, Construction Output Growth (Real, % change)
  • Table 13: Western Europe, Construction Output Growth (Real, % change)
  • Table 14: Eastern Europe, Construction Output Growth (Real, % change)
  • Table 15: South and South-East Asia, Construction Output Growth (Real, % change)
  • Table 16: Australasia, Construction Output Growth (Real, % change)
  • Table 17: North-East Asia, Construction Output Growth (Real, % change)
  • Table 18: Middle East and North Africa, Construction Output Growth (Real, % change)
  • Table 19: Sub-Saharan Africa, Construction Output Growth (Real, % change)

List of Figures

  • Figure 1: Global Construction Output Growth (Real, % change), 2014-2023
  • Figure 2: Global Construction Output Growth (Real, average % change), 2014-2018 and 2019-2023
  • Figure 3: Global Construction Output Growth (Real, average % change), 2019-2023
  • Figure 4: Global Construction Output Value (Real, 2017 US$ billion), 2018 and 2023
  • Figure 5: US and Canada, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 6: US and Canada, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 7: US and Canada, Construction Output Value (Real, US$ 2017 billion)
  • Figure 8: US, Value of Construction Put in Place Seasonally Adjusted (US$ million)
  • Figure 9: Canada, Construction value-add (% change year on year, constant prices)
  • Figure 10: Latin America, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 11: Latin America, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 12: Latin America, Construction Output Value (Real, US$ 2017 billion)
  • Figure 13: Argentina, Synthetic Indicator of Construction Activity
  • Figure 14: Mexico , Construction value-add (constant 2013 prices, % change, year on year)
  • Figure 15: Brazil, Construction value-add (BRL million, chained at 1995 prices)
  • Figure 16: Colombia, Construction value-add (COP, chained at 2015 prices, % change, year on year)
  • Figure 17: Chile, Construction value-add (CLP billion, chained at 2013 prices)
  • Figure 18: Peru, Construction value-add (PEN million, constant 2007 prices)
  • Figure 19: Western Europe, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 20: Western Europe, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 21: Western Europe, Construction Output Value (Real, US$ 2017 billion)
  • Figure 22: Germany, Construction Value Add (EUR Million, 2010 chained prices)
  • Figure 23: UK, Construction Output (% change, year on year)
  • Figure 24: Greece, Construction Production Index (% change, year on year)
  • Figure 25: Sweden, Construction Production Index (% change, year on year)
  • Figure 26: Ireland, Planning Permissions Granted for Construction
  • Figure 27: France, Construction Production Index (% change, year on year)
  • Figure 28: Eastern Europe, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 29: Eastern Europe, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 30: Eastern Europe, Construction Output Value (Real, US$ 2017 billion)
  • Figure 31: Russia, Construction Value-Add (% change, year on year)
  • Figure 32: Poland, Construction Production Index (% change, year on year)
  • Figure 33: Turkey, Construction Value-Add (Constant Prices)
  • Figure 34: Hungary, Construction Production Index (% change, year on year)
  • Figure 35: Czech Republic, Construction Production Index (% change, year on year)
  • Figure 36: South and South-East Asia, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 37: South and South-East Asia, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 38: South and South-East Asia, Construction Output Value (Real, US$ 2017 billion)
  • Figure 39: India, Construction Value-Add (INR Billion, Constant Prices)
  • Figure 40: Singapore, Construction Value-Add (Constant Prices)
  • Figure 41: Indonesia, Construction Value-Add (IDR Billion, Constant Prices)
  • Figure 42: Thailand, Construction Value-Add (Constant Prices)
  • Figure 43: The Philippines, Construction Value-Add (PHP Billion, Constant Prices)
  • Figure 44: Malaysia, Construction Put in Place (MYR Million, Current Prices)
  • Figure 45: Australasia, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 46: Australasia, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 47: Australasia, Construction Output Value (Real, US$ 2017 billion)
  • Figure 48:Australia, Construction Work Done (Chained volume measure, AUD million)
  • Figure 49:Australia, Dwelling Units Approvals (Number of units)
  • Figure 50:New Zealand, Building Work Put in Place (Chained volume measure, NZD million)
  • Figure 51: North-East Asia, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 52: North-East Asia, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 53: North-East Asia, Construction Output Value (Real, US$ 2017 billion)
  • Figure 54: South Korea, Construction Value-Add (% change, year on year)
  • Figure 55: Japan, Construction Contracts, Order Values (JPY trillion, 3-month moving average)
  • Figure 56: China, Construction Value-Add (Constant prices)
  • Figure 57: Hong Kong, Gross Value of Construction Works (HKD Million, Constant prices)
  • Figure 58: Middle East and North Africa, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 59:Middle East and North Africa, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 60: Middle East and Africa, Construction Output Value (Real, US$ 2017 billion)
  • Figure 61: Israel - Construction Value-Add (NIS million, Constant Prices)
  • Figure 62: Qatar, Construction Value-Add (QAR million, Constant Prices)
  • Figure 63: Saudi Arabia- Construction Value-Add (SAR million, Constant Prices)
  • Figure 64: Bahrain, Construction Value-Add (BHD million, Constant Prices)
  • Figure 65: Egypt, Construction Value-Add (EGP million, Constant Prices)
  • Figure 66: Oman, Construction Value-Add (OMR million, Constant Prices)
  • Figure 67: Tunisia, Construction Value-Add (TND million, Constant Prices)
  • Figure 68: Algeria, Construction Value-Add (DZD million, Current Prices)
  • Figure 69: Morocco, Construction Value (MAD million, Chained Prices)
  • Figure 70: Kuwait, Construction Value Add (KWD million, Constant Prices)
  • Figure 71: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2014-2018 vs 2019-2023
  • Figure 72: Sub-Saharan Africa, Construction Output Growth (Real, average % change), 2019-2023
  • Figure 73: Sub-Saharan Africa, Construction Output Value (Real, US$ 2017 billion)
  • Figure 74: Nigeria, Construction Value-Add (NGN million, Constant Prices)
  • Figure 75: South Africa, Construction Value-Add (ZAR million, Constant Prices Seasonally Adjusted)
  • Figure 76: Cameroon, Construction Value-Add (CFA billion, Constant Prices)
  • Figure 77: Ghana, Construction Value Add (GHS million, Constant Prices)
  • Figure 78: Tanzania, Construction Value-Add (TZS billion, Constant Prices)
  • Figure 79: Zambia, Construction Value-Add (ZMK million, Constant Prices)
  • Figure 80: Kenya, Construction Value-Add (KSH million, Constant Prices)
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