Synopsis
The report provides the CICs view of the outlook to 2020 for the global economy and the global construction industry, and how the industry will evolve in all major countries worldwide
Scope
• An overview of the outlook for the global economy
• An assessment of the outlook for the global economy, broken down by major regions
• A review of global construction risk
• Profiles for 50 major markets, including an overview, focus points and risk watch
Summary
The global construction industry is regaining strength, having endured a prolonged period of sluggishness in the wake of the global financial crisis.
In real value terms (measured at constant 2010 US$ exchange rates) global construction output reached US$8.5 trillion in 2015, up from US$7.5 trillion in 2010.
Over the forecast period (2016-2020) the pace of expansion will accelerate to an annual average of 3.4% - up from 2.4% in the preceding five-year period - with the industry reaching value of US$10.0 trillion in 2020
Reasons To Buy
Gain an understanding of general state of the global economy and construction industry.
Analyse performance region-by-region and country-by-country, and gain insight into key issues affecting the construction industry.
Review top-line risks in the industry, with country rankings and highlights from the CIC Construction Risk Index, to assist in market expansion plans.
Key highlights
Across the major regions of the world, the industrys performance remains mixed. The emerging world will continue to outperform advanced economies, with the pace of growth in the former easing back to an annual average of 4.2% over the forecast period from 5.2% in 2011-2015. The value of construction activity in the emerging world (at real 2010 US$ exchange rates) surpassed that of advanced economies in 2014, and the difference will continue to widen. In 2010 emerging markets accounted for 43.9% of global output, a share that is anticipated to rise to 51.9% by 2020.
Asia-Pacific will continue to account for the largest share of the global construction industry, given it includes the large markets of China, Japan and India. However, the pace of growth will slow, given the relative sluggishness in Chinas construction industry, the expansion of which will be undermined by the glut of new residential property. The emerging markets of South-East Asia will invest heavily in new infrastructure projects, supported by private investment.
Construction industries in most Western European countries are recovering but, on the whole, output in real terms will remain below the pre-crisis highs. Ongoing troubles in the eurozone and the Russia-Ukraine crisis mean that investor confidence is still fragile. Germanys construction industry will remain sluggish, hampered by weak investor confidence and the governments focus on austerity.
1. EXECUTIVE SUMMARY
2. GLOBAL ECONOMIC OUTLOOK
2.1. Continuing Recovery, but Downside Risks
2.2. Major Emerging Markets are Struggling
2.3. Europes Woes Continue
3. GLOBAL CONSTRUCTION OUTLOOK
3.1. Ongoing Recovery
3.2. North America
3.2.1. US construction pushing ahead
3.3. Western Europe
3.3.1. New housing construction in the UK
3.4. Eastern Europe
3.5. Latin America
3.5.1. Brazils woes
3.6. Asia-Pacific
3.6.1. The great slowdown in China
3.7. Middle East and Africa
3.7.1. Reality of low oil prices
4. GLOBAL CONSTRUCTION RISK REVIEW
4.1. Highlights
4.2. Market Risk
4.3. Operating Risk
4.4. Economic Risk
4.5. Financial Risk
4.6. Political Risk
4.7. CRI Methodology Brief
5. ASIA-PACIFIC
5.1. Australia
5.1.1. Outlook
5.1.2. Focus points
5.1.3. Risk watch
5.2. China
5.2.1. Outlook
5.2.2. Focus points
5.2.3. Risk watch
5.3. Hong Kong
5.3.1. Outlook
5.3.2. Focus points
5.3.3. Risk watch
5.4. India
5.4.1. Outlook
5.4.2. Focus points
5.4.3. Risk watch
5.5. Indonesia
5.5.1. Outlook
5.5.2. Focus points
5.5.3. Risk watch
5.6. Japan
5.6.1. Outlook
5.6.2. Focus points
5.6.3. Risk watch
5.7. Malaysia
5.7.1. Outlook
5.7.2. Focus points
5.7.3. Risk watch
5.8. Philippines
5.8.1. Outlook
5.8.2. Focus points
5.8.3. Risk watch
5.9. Singapore
5.9.1. Outlook
5.9.2. Focus points
5.9.3. Risk watch
5.10. South Korea
5.10.1. Outlook
5.10.2. Focus points
5.10.3. Risk watch
5.11. Thailand
5.11.1. Outlook
5.11.2. Focus points
5.11.3. Risk watch
5.12. Vietnam
5.12.1. Outlook
5.12.2. Focus points
5.12.3. Risk watch
6. WESTERN EUROPE
6.1. Austria
6.1.1. Outlook
6.1.2. Focus points
6.1.3. Risk watch
6.2. Belgium
6.2.1. Outlook
6.2.2. Focus points
6.2.3. Risk watch
6.3. Denmark
6.3.1. Outlook
6.3.2. Focus points
6.3.3. Risk watch
6.4. Finland
6.4.1. Outlook
6.4.2. Focus points
6.4.3. Risk watch
6.5. France
6.5.1. Outlook
6.5.2. Focus points
6.5.3. Risk watch
6.6. Germany
6.6.1. Outlook
6.6.2. Focus points
6.6.3. Risk watch
6.7. Greece
6.7.1. Outlook
6.7.2. Focus points
6.7.3. Risk watch
6.8. Ireland
6.8.1. Outlook
6.8.2. Focus points
6.8.3. Risk watch
6.9. Italy
6.9.1. Outlook
6.9.2. Focus points
6.9.3. Risk watch
6.10. The Netherlands
6.10.1. Outlook
6.10.2. Focus points
6.10.3. Risk watch
6.11. Portugal
6.11.1. Outlook
6.11.2. Focus points
6.11.3. Risk watch
6.12. Spain
6.12.1. Outlook
6.12.2. Focus points
6.12.3. Risk watch
6.13. Sweden
6.13.1. Outlook
6.13.2. Focus points
6.13.3. Risk watch
6.14. Switzerland
6.14.1. Outlook
6.14.2. Focus points
6.14.3. Risk watch
6.15. The UK
6.15.1. Outlook
6.15.2. Focus points
6.15.3. Risk watch
7. EASTERN EUROPE
7.1. The Czech Republic
7.1.1. Outlook
7.1.2. Focus points
7.1.3. Risk watch
7.2. Hungary
7.2.1. Outlook
7.2.2. Focus points
7.2.3. Risk watch
7.3. Poland
7.3.1. Outlook
7.3.2. Focus points
7.3.3. Risk watch
7.4. Romania
7.4.1. Outlook
7.4.2. Focus points
7.4.3. Risk watch
7.5. Russia
7.5.1. Outlook
7.5.2. Focus points
7.5.3. Risk watch
7.6. Turkey
7.6.1. Outlook
7.6.2. Focus points
7.6.3. Risk watch
8. NORTH AMERICA
8.1. Canada
8.1.1. Outlook
8.1.2. Focus points
8.1.3. Risk watch
8.2. The US
8.2.1. Outlook
8.2.2. Focus points
8.2.3. Risk watch
9. LATIN AMERICA
9.1. Argentina
9.1.1. Outlook
9.1.2. Focus points
9.1.3. Risk watch
9.2. Brazil
9.2.1. Outlook
9.2.2. Focus points
9.2.3. Risk watch
9.3. Chile
9.3.1. Outlook
9.3.2. Focus points
9.3.3. Risk watch
9.4. Colombia
9.4.1. Outlook
9.4.2. Focus points
9.4.3. Risk watch
9.5. Mexico
9.5.1. Outlook
9.5.2. Focus points
9.5.3. Risk watch
9.6. Peru
9.6.1. Outlook
9.6.2. Focus points
9.6.3. Risk watch
9.7. Venezuela
9.7.1. Outlook
9.7.2. Focus points
9.7.3. Risk watch
10. THE MIDDLE EAST AND AFRICA
10.1. Algeria
10.1.1. Outlook
10.1.2. Focus points
10.1.3. Risk watch
10.2. Egypt
10.2.1. Outlook
10.2.2. Focus points
10.2.3. Risk watch
10.3. Morocco
10.3.1. Outlook
10.3.2. Focus points
10.3.3. Risk watch
10.4. Nigeria
10.4.1. Outlook
10.4.2. Focus points
10.4.3. Risk watch
10.5. Qatar
10.5.1. Outlook
10.5.2. Focus points
10.5.3. Risk watch
10.6. Saudi Arabia
10.6.1. Outlook
10.6.2. Focus points
10.6.3. Risk watch
10.7. South Africa
10.7.1. Outlook
10.7.2. Focus points
10.7.3. Risk watch
10.8. The UAE
10.8.1. Outlook
10.8.2. Focus points
10.8.3. Risk watch
11. APPENDIX
11.1. About Timetric
11.2. Disclaimer
11.3. Main Sources of Data
List Of Tables
1. EXECUTIVE SUMMARY
2. GLOBAL ECONOMIC OUTLOOK
2.1. Continuing Recovery, but Downside Risks
2.2. Major Emerging Markets are Struggling
2.3. Europes Woes Continue
3. GLOBAL CONSTRUCTION OUTLOOK
3.1. Ongoing Recovery
3.2. North America
3.2.1. US construction pushing ahead
3.3. Western Europe
3.3.1. New housing construction in the UK
3.4. Eastern Europe
3.5. Latin America
3.5.1. Brazils woes
3.6. Asia-Pacific
3.6.1. The great slowdown in China
3.7. Middle East and Africa
3.7.1. Reality of low oil prices
4. GLOBAL CONSTRUCTION RISK REVIEW
4.1. Highlights
4.2. Market Risk
4.3. Operating Risk
4.4. Economic Risk
4.5. Financial Risk
4.6. Political Risk
4.7. CRI Methodology Brief
5. ASIA-PACIFIC
5.1. Australia
5.1.1. Outlook
5.1.2. Focus points
5.1.3. Risk watch
5.2. China
5.2.1. Outlook
5.2.2. Focus points
5.2.3. Risk watch
5.3. Hong Kong
5.3.1. Outlook
5.3.2. Focus points
5.3.3. Risk watch
5.4. India
5.4.1. Outlook
5.4.2. Focus points
5.4.3. Risk watch
5.5. Indonesia
5.5.1. Outlook
5.5.2. Focus points
5.5.3. Risk watch
5.6. Japan
5.6.1. Outlook
5.6.2. Focus points
5.6.3. Risk watch
5.7. Malaysia
5.7.1. Outlook
5.7.2. Focus points
5.7.3. Risk watch
5.8. Philippines
5.8.1. Outlook
5.8.2. Focus points
5.8.3. Risk watch
5.9. Singapore
5.9.1. Outlook
5.9.2. Focus points
5.9.3. Risk watch
5.10. South Korea
5.10.1. Outlook
5.10.2. Focus points
5.10.3. Risk watch
5.11. Thailand
5.11.1. Outlook
5.11.2. Focus points
5.11.3. Risk watch
5.12. Vietnam
5.12.1. Outlook
5.12.2. Focus points
5.12.3. Risk watch
6. WESTERN EUROPE
6.1. Austria
6.1.1. Outlook
6.1.2. Focus points
6.1.3. Risk watch
6.2. Belgium
6.2.1. Outlook
6.2.2. Focus points
6.2.3. Risk watch
6.3. Denmark
6.3.1. Outlook
6.3.2. Focus points
6.3.3. Risk watch
6.4. Finland
6.4.1. Outlook
6.4.2. Focus points
6.4.3. Risk watch
6.5. France
6.5.1. Outlook
6.5.2. Focus points
6.5.3. Risk watch
6.6. Germany
6.6.1. Outlook
6.6.2. Focus points
6.6.3. Risk watch
6.7. Greece
6.7.1. Outlook
6.7.2. Focus points
6.7.3. Risk watch
6.8. Ireland
6.8.1. Outlook
6.8.2. Focus points
6.8.3. Risk watch
6.9. Italy
6.9.1. Outlook
6.9.2. Focus points
6.9.3. Risk watch
6.10. The Netherlands
6.10.1. Outlook
6.10.2. Focus points
6.10.3. Risk watch
6.11. Portugal
6.11.1. Outlook
6.11.2. Focus points
6.11.3. Risk watch
6.12. Spain
6.12.1. Outlook
6.12.2. Focus points
6.12.3. Risk watch
6.13. Sweden
6.13.1. Outlook
6.13.2. Focus points
6.13.3. Risk watch
6.14. Switzerland
6.14.1. Outlook
6.14.2. Focus points
6.14.3. Risk watch
6.15. The UK
6.15.1. Outlook
6.15.2. Focus points
6.15.3. Risk watch
7. EASTERN EUROPE
7.1. The Czech Republic
7.1.1. Outlook
7.1.2. Focus points
7.1.3. Risk watch
7.2. Hungary
7.2.1. Outlook
7.2.2. Focus points
7.2.3. Risk watch
7.3. Poland
7.3.1. Outlook
7.3.2. Focus points
7.3.3. Risk watch
7.4. Romania
7.4.1. Outlook
7.4.2. Focus points
7.4.3. Risk watch
7.5. Russia
7.5.1. Outlook
7.5.2. Focus points
7.5.3. Risk watch
7.6. Turkey
7.6.1. Outlook
7.6.2. Focus points
7.6.3. Risk watch
8. NORTH AMERICA
8.1. Canada
8.1.1. Outlook
8.1.2. Focus points
8.1.3. Risk watch
8.2. The US
8.2.1. Outlook
8.2.2. Focus points
8.2.3. Risk watch
9. LATIN AMERICA
9.1. Argentina
9.1.1. Outlook
9.1.2. Focus points
9.1.3. Risk watch
9.2. Brazil
9.2.1. Outlook
9.2.2. Focus points
9.2.3. Risk watch
9.3. Chile
9.3.1. Outlook
9.3.2. Focus points
9.3.3. Risk watch
9.4. Colombia
9.4.1. Outlook
9.4.2. Focus points
9.4.3. Risk watch
9.5. Mexico
9.5.1. Outlook
9.5.2. Focus points
9.5.3. Risk watch
9.6. Peru
9.6.1. Outlook
9.6.2. Focus points
9.6.3. Risk watch
9.7. Venezuela
9.7.1. Outlook
9.7.2. Focus points
9.7.3. Risk watch
10. THE MIDDLE EAST AND AFRICA
10.1. Algeria
10.1.1. Outlook
10.1.2. Focus points
10.1.3. Risk watch
10.2. Egypt
10.2.1. Outlook
10.2.2. Focus points
10.2.3. Risk watch
10.3. Morocco
10.3.1. Outlook
10.3.2. Focus points
10.3.3. Risk watch
10.4. Nigeria
10.4.1. Outlook
10.4.2. Focus points
10.4.3. Risk watch
10.5. Qatar
10.5.1. Outlook
10.5.2. Focus points
10.5.3. Risk watch
10.6. Saudi Arabia
10.6.1. Outlook
10.6.2. Focus points
10.6.3. Risk watch
10.7. South Africa
10.7.1. Outlook
10.7.2. Focus points
10.7.3. Risk watch
10.8. The UAE
10.8.1. Outlook
10.8.2. Focus points
10.8.3. Risk watch
11. APPENDIX
11.1. About Timetric
11.2. Disclaimer
11.3. Main Sources of Data
List Of Figures
Table 1: North America – Construction Output (2010 US$ Billion)
Table 2: Western Europe – Construction Output (2010 US$ Billion)
Table 3: Eastern Europe – Construction Output (2010 US$ Billion)
Table 4: Latin America – Construction Output (2010 US$ Billion)
Table 5: Asia-Pacific – Construction Output (2010 US$ Billion)
Table 6: Middle East and Africa – Construction Output (2010 US$ Billion)
Table 7: Construction Output (2010 US$ Billion), Global Ranking
Table 8: Construction Risk Index, Q4 2015
Table 9: Australia – Key Indicators
Table 10: China – Key Indicators
Table 11: Hong Kong – Key Indicators
Table 12: India – Key Indicators
Table 13: Indonesia – Key Indicators
Table 14: Japan – Key Indicators
Table 15: Malaysia – Key Indicators
Table 16: Philippines – Key Indicators
Table 17: Singapore – Key Indicators
Table 18: South Korea – Key Indicators
Table 19: Thailand – Key Indicators
Table 20: Vietnam – Key Indicators
Table 21: Austria – Key Indicators
Table 22: Belgium – Key Indicators
Table 23: Denmark – Key Indicators
Table 24: Finland – Key Indicators
Table 25: France – Key Indicators
Table 26: Germany – Key Indicators
Table 27: Greece – Key Indicators
Table 28: Ireland – Key Indicators
Table 29: Italy – Key Indicators
Table 30: The Netherlands – Key Indicators
Table 31: Portugal – Key Indicators
Table 32: Spain – Key Indicators
Table 33: Sweden – Key Indicators
Table 34: Switzerland – Key Indicators
Table 35: The UK – Key Indicators
Table 36: The Czech Republic – Key Indicators
Table 37: Hungary – Key Indicators
Table 38: Poland – Key Indicators
Table 39: Romania – Key Indicators
Table 40: Russia – Key Indicators
Table 41: Turkey – Key Indicators
Table 42: Canada – Key Indicators
Table 43: US – Key Indicators
Table 44: Argentina – Key Indicators
Table 45: Brazil – Key Indicators
Table 46: Chile – Key Indicators
Table 47: Colombia – Key Indicators
Table 48: Mexico – Key Indicators
Table 49: Peru – Key Indicators
Table 50: Venezuela – Key Indicators
Table 51: Algeria – Key Indicators
Table 52: Egypt – Key Indicators
Table 53: Morocco – Key Indicators
Table 54: Nigeria – Key Indicators
Table 55: Qatar – Key Indicators
Table 56: Saudi Arabia – Key Indicators
Table 57: South Africa – Key Indicators
Table 58: The UAE – Key Indicators
Table 59: Main sources of data
