Construction Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Construction Market Share

The commercial sector drives growth in the global construction industry market size by creating spaces for businesses to operate, thereby boosting local economies.

Commercial construction fosters job creation, economic growth, and urban landscape improvement. It elevates property values, generates tax revenues, and offers modern amenities, enhancing local services, attracting tourists, fostering community, and presenting business opportunities.

According to Statistics Canada, non-residential construction increased by 0.6% to $49.8 billion in 2023, marking two consecutive yearly rises.

Residential construction satisfies increasing housing demands, creates new neighbourhoods, promotes social cohesion, and boosts local economies through related services and trades. It facilitates homeownership, addresses affordable housing needs, and offers energy-efficient homes. Moreover, it enhances local infrastructure, diversifies housing options, stimulates real estate market growth, and expands the local tax base through property taxes.

According to ABS, new residential construction values surged by 19.4% in Australia in January 2024, reaching a total of $7.14 billion.

Industrial construction spurs local and regional economic expansion, offering construction and sustained job prospects. It amplifies manufacturing capacities, refines logistics, and fortifies local infrastructure. Integrating advanced technologies amplifies export potential, yields substantial tax revenues, promotes community investments, and advocates sustainable practices.

As per the World Bank in 2022, the industrial sector (inclusive of construction) contributed 53.2% to Saudi Arabia's GDP.

Education and research construction fosters academic and research advancement, offers spaces for public engagement, and creates employment in both construction and academia. It yields lasting societal advantages through education, drives technological innovation, improves access to quality educational facilities, and strengthens research capabilities. Moreover, it stimulates local economies, draws students and professionals, and modernizes educational infrastructure and resources.

According to the Australian Bureau of Statistics, there were 4,086,998 students enrolled in 9,629 schools across Australia in 2023.

Medical and healthcare infrastructure development boosts accessibility to contemporary medical amenities, enriches community health and welfare, and generates employment opportunities in construction and healthcare domains. It furnishes cutting-edge medical resources and technology, spurs economic growth through healthcare expenditure, delivers specialized medical care, fosters medical advancement and exploration, and facilitates venues for community health initiatives. Moreover, it enhances emergency and intensive care facilities while advocating for sustainable and environmentally conscious healthcare methodologies.

In 2019, statistics from the Central Bureau of Health Intelligence (CBHI) revealed a combined count of 23,581 Government Hospitals and 22 Central Government Hospitals.

Construction Market Report Snapshots

Construction Market Size

Construction Market Growth

Construction Market Trends

Construction Market Share

Construction Manufacturers

Construction Market Regional Analysis