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Global construction cost index by city11/16/2023 This rapid growth in construction activity contributed to the growth of the construction market.īuilding construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. For instance, according to the National Bureau of Statistics, construction output contributed for 25.9% of China's GDP in 2020, up from 6.2% in 2019. Emerging markets which registered robust construction activity included China, Brazil, India, Saudi Arabia and Indonesia. The increasing construction activities in emerging markets is expected to propel the growth of the construction market over coming years. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. North America was the second-largest region in the construction market. The market is expected to reach $22873.96 billion in 2026 at a CAGR of 10.8%.Īsia Pacific was the largest region in the construction market in 2021. The global construction market is expected to grow from $13570.90 billion in 2021 to $15171.80 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. 09, 2022 (GLOBE NEWSWIRE) - The "Construction Global Market Report 2022" report has been added to 's offering.
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