Skip to main content
Marsh logo

Article

Construction Market Update

Marsh Speciality’s Construction Practice has published its latest Global Market Update summary.

Construction engineers discussion with architects at construction site or building site of highrise building with Surveying for making contour plans is a graphical representation of the lay in land.

02/02/2023 · 2-minute read

Marsh’s Construction Practice has published its latest Global Market Update summary.

The report provides readers with the latest market details at both a global and region-by-region basis and provides expert and informed opinions on what trends may occur throughout the year.

The summary was compiled using commentary shared during Marsh’s most recent Global Construction Market Update webinar, held in December 2022, at which Marsh’s construction leaders across the globe discussed current market conditions, the reasons behind them, and thoughts for how 2023 might develop.

The next Construction Market Update webinar is due to take place in April.

Richard Gurney, Global Head of Construction at Marsh, said: “The consensus that emerged from the recent construction market webinar was that caution should be applied to any outlook for the construction sector this year.

“A weakening macroeconomic outlook and geopolitical challenges look set to continue to cause turbulence globally, with inflation, supply chain issues, and natural catastrophes creating uncertainty around treaty conditions and the demands of the reinsurance market.

“While that may be an uncomfortable message, there are some green shoots of new and re-entering capacity within the market. Construction demand is still good and, overall, the sector has seen improvements in terms of profitability.

“For more detailed analysis, I would encourage interested parties to read the report in full, and to keep up with the very latest market conditions as experienced by Marsh Specialty’s global construction practice leaders and their views and opinions, I would strongly recommend registering for the next market update webinar.”

Construction Market Update Summary - December 2022

Download

Related insights

Confident bearded head Civil Engineer-Architect in sunglasses is Sstanding outside with his back to camera in a construction site on a bright day. Man is wearing a hard hat, shirt and a safety vest.

Article

Construction companies turning to captives to overcome challenging conditions

07/31/2023
Aerial view of construction worker in construction site

Webcast

Global construction market update

04/17/2023
Palm trees blowing in the wind and rain as a hurricane approaches a tropical island coastline

Article

Parametric insurance: How it can benefit construction companies

03/14/2023
Battery energy storage systems

Article

The unique construction risks of long-duration energy storage system projects

03/07/2023
View more

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. LCPA 23/047

“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”