Global Construction Market to Grow $8 Trillion by 2030: Driven by China, US and India

London (ots/PRNewswire) -

- US construction market to grow faster than China over next 15 years
- Despite size, China powerhouse to drop to historic low of
construction
growth in 2016
- India to provide a new engine of global growth for construction in
emerging markets, growing at almost twice as fast as China

- Europe will not recoup its 'lost decade' but the UK will be
continental
Europe's stand-out growth market, overtaking Germany to become the
world's sixth largest construction market by 2030

A new report released today - Global Construction 2030 - forecasts
the volume of construction output will grow by 85% to $15.5 trillion
worldwide by 2030, with three countries - China, US and India -
leading the way and accounting for 57% of all global growth.

(Photo: http://photos.prnewswire.com/prnh/20151109/285362 )

The benchmark global study - the fourth in a series from Global
Construction Perspectives and Oxford Economics - shows average global
construction growth of 3.9% pa to 2030, outpacing that of global GDP
by over one percentage point, driven by developed countries
recovering from economic instability and emerging countries
continuing to industrialize.

"China's share of the world construction market will increase only
marginally as growth slows in the world's largest construction market
to 2030. In comparison, US construction will grow faster than China
over the next 15 years - growing by an average of five percent per
annum. Meanwhile, we're due to see a surge in construction rates in
India as it overtakes Japan to become world's third largest
construction market by 2021," says Graham Robinson, Executive
Director, Global Construction Perspectives.

China construction growth is to slow considerably with a slump in
housing and the first ever decline in housing output for China will
be registered this year. But, its transition to a consumer and
services driven economy provides opportunity for growth in new types
of construction in healthcare, education and social infrastructure,
as well as retail and other consumer end-markets. The abolition of
China's one-child policy adds impetus to our long-term view.

The construction market in India will grow almost twice as fast as
China to 2030, providing a new engine of global growth in emerging
markets. India's urban population is expected to grow by a staggering
165 million by 2030, swelling Delhi by 10.4 million people to become
the world's second largest city.

"Although globally we see construction growing more rapidly than
the overall economy, with developed markets forecast to rebound from
their depressed levels, many will not be back to their previous peak
levels even by 2030. The current weakness in most emerging countries
is likely to be temporary, with higher growth rates soon returning,"
says Mike Betts, Global Construction Perspectives.

In the US construction growth will tilt towards the southern
states, reflecting the region's greater catch-up potential and higher
population growth.

"Fed lift-off, expected as early as December, could mean a risk
for construction growth in key emerging markets - Brazil, Russia,
Turkey and India - that could all suffer from significant short-term
reductions in growth for construction, with some of these countries
potentially halving growth," says Jeremy Leonard, Director of
Industry Services, Oxford Economics.

"Whilst there is an interesting relationship between the top three
countries, it is important not to forget that we see significant
weakness in Brazil and Russia, whilst we see extraordinary growth in
Indonesia. In Latin America, we expect Mexico to overtake Brazil,
whilst Indonesia will overtake Japan by 2030, says Jeremy Leonard,
Director of Industry Services, Oxford Economics.

Brazil risks a 'lost decade', as the stranglehold of excessive
bureaucracy and the Petrobras scandal continues to hold back the
economy and investment. The strong demographics that supported
Brazilian growth are reversing, leading to stagnation in demand for
construction over the longer-term.

When it comes to Europe, whilst it won't recover to reach
pre-crisis levels until 2025, the UK is a stand-out growth market,
overtaking Germany to become the largest in Europe and the world's
sixth largest construction market by 2030.

"Construction is likely to be one of the most dynamic industrial
sectors in the next fifteen years and is utterly crucial to the
evolution of prosperous societies around the world. The numbers
within this report are huge and that translates as creating vast
numbers of new jobs and creating significant wealth for certain
countries across the globe," says Fernando A. González, Chief
Executive of global building materials company CEMEX.

NOTE TO EDITORS

ots Originaltext: Global Construction Perspectives Ltd
Im Internet recherchierbar: http://www.presseportal.de

Contact:
visithttp://www.globalconstruction2030.com/
Or contact:
Rachel Ringstead, Edelman UK +44(0)203-047-4051
rachel.ringstead@edelman.com