By 2018 China Will Pass U.S. As Preeminent Construction Market

A report was recently released by Global Construction Perspectives and Oxford Economics titled Global Construction 2020 which gives a global forecast for the construction industry until 2020.

Include in the report summary are some interesting insights into the coming decade of construction.

Currently the global construction market is worth 7.5 trillion dollars (at 2008 prices) and will grow by 69.3% to 12.7 trillion by 2020(at 2008 prices).

The report states that the US, UK, Canada & Australia will rebound quicker than other developed countries. However, developing countries such as India & China will have quicker growth in the next decade than developed countries and that the China construction market is forecasted to exceed the USA by 2018.

Output in India will be accelerate quicker than China and that emerging markets construction output will be exceed 3 times that of developing countries over the next decade.

read moreĀ  about the report at the SOURCE: Global Construction 2020
found via ENR: Engineering News Record

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