REPORT

The Future of Construction

A global forecast for construction to 2030 issued in partnership with Oxford Economics and Guy Carpenter

The construction industry has demonstrated remarkable resilience during the worst of the coronavirus pandemic and over a period of significant disruption to the global economy – the worst since the Great Depression some 80 years ago.

Although the near-term outlook for the global economy remains clouded by a surge in inflation and supply-chain bottlenecks and the Delta variant remains a threat — as Oxford Economics forecasts in this newly published global forecast "The Future of Construction" — the global construction industry is set to lead global economic recovery from the pandemic over the medium-term and is expected to grow faster than the manufacturing or service sectors.

REPORT

Future of Construction

For a complete analysis of  the global forecast for construction to 2030

The global construction market is expected to grow by US$4.5 trillion over the decade to 2030 to reach US$15.2 trillion. Just four countries — China, India, US, and Indonesia — will account for almost 60% of this growth while the top 10 global construction markets are expected to account for almost 70% of the growth over the same period.

A proportion of the huge build-up in excess household savings across the developed world — equivalent to over 10% of GDP in North America — is expected to be unleashed by consumers and will drive economies to support heightened growth across the residential construction market.

A further wave of increased demand for construction will derive from accelerated infrastructure investment supported by large stimulus programmes aimed at boosting post pandemic economies. 

FUTURE OF CONSTRUCTION

Executive Summary

Key report findings

Themes covered in this report – including climate change, ESG considerations, the emergency of a deconstruction industry and embedding modern methods of construction – are changing the risk profile of the construction industry and creating opportunities which will shape the Future of Construction.