Future of Construction gives forecasts for global construction to 2030 as well as perspectives on climate related challenges for the construction industry.
Global construction output in 2020 was US$10.7 trillion (in 2017 prices and exchange rates) and we expect this to grow by 42% or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion. The Global Construction industry is set to be a global engine for economic growth and recovery from COVID.
Shorter term, global construction output is expected to reach US$13.3 trillion by 2025 – adding US$2.6 trillion to output in the five years from 2020.
Asia Pacific will account for US$2.5 trillion of growth in construction output between 2020 and 2030, up by over 50% to become a US$7.4 trillion market by 2030.
Construction output in North America will grow by 32%, or US$580 billion from 2020 to 2030, to US$2.4 trillion in 2030.
Western Europe is forecast to grow by 23% between 2020 and 2030 and is expected to push up construction output to US$2.5 trillion in 2030.
Average annual growth in construction of 3.6% per annum over the decade to 2030 will be higher than manufacturing or services.
Read the report
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques.
Experian / Oxford Economics Main Street Report
Experian/Oxford Economics’ Main Street Report brings deep insight into the overall financial well-being of the small-business landscape, as well as provides commentary on what specific trends mean for credit grantors and the small-business community.Find Out More
The Economics of Reduced-Risk Products: Global policy landscape and principles for policy treatment
In this study, Oxford Economics assesses the policy landscape for ‘Reduced-Risk Products’ in the tobacco market, and explores the potential health and economics consequences of taking a precautionary policy stance against them.Find Out More
The Economic Impact of China PNTR Repeal
This study provides rigorous analysis to inform policymakers on the potential impact of an escalation in US-China tariffs. We examine how removing China's Permanent Normalized Trade Relations (PNTR) status would affect the US economy, finding that tariffs would cause substantial output and job losses.Find Out More