A Statistical Overview
The global construction industry is valued at over $10 trillion annually, driven by infrastructure and urbanization projects worldwide.
Factors such as population growth, urbanization, and technological advancements contribute to a projected CAGR of 5% from 2023 to 2030.
Asia-Pacific leads with the largest share, accounting for approximately 40% of the global market due to rapid development in countries like China.
The industry employs over 180 million people globally, making it a significant source of jobs and economic activity.
Global construction output reached $10.7 trillion in 2022, with expectations to grow to $15 trillion by 2030.
Foreign direct investment in construction has increased by 20% in the last five years, particularly in emerging markets.
Green building projects now represent 15% of total construction, up from 5% a decade ago, emphasizing eco-friendly practices.
Supply chain disruptions and material cost inflation have reduced profit margins by an average of 10% globally in recent years.
India's construction industry is valued at around $300 billion, forming a crucial part of the nation's GDP.
Government initiatives like 'Make in India' and infrastructure projects are fueling a growth rate of 7-8% annually.
Residential and infrastructure segments dominate, with infrastructure accounting for 40% of the total market.
The sector employs over 50 million people in India, contributing significantly to unskilled and skilled labor markets.
India's construction sector grew by 12% in 2022-2023, outpacing global averages due to urban development projects.
Public and private investments totaled $150 billion in 2023, with a focus on smart cities and highways.
Green construction practices have increased, with 20% of new projects incorporating sustainable materials.
Issues like labor shortages and regulatory delays have impacted timelines, leading to a 15% cost overrun in major projects.