Global Construction Market: Analysis of Major Emerging Trends and Developments in the Next Decade
The global construction and infrastructure industry is rapidly evolving and showing new trends and developments. Once considered the least productive industry, is now advancing towards efficiency through automation, digitalisation, advanced materials etc. On the technology side, 3D printing, drones, robots, GPS tracking are some of the tools the industry has already started using in various capacities.
Technological advancement is to converge the construction industry with various other industries, resulting synergy and efficiency. Commodity Inside anticipates some significant changes across the industry from a project design to the end of the project life.
Construction materials will also see some major trends and developments. In developed world more advanced and pre-fabrications materials will be used, mainly driven by efforts towards sustainability and controlling pollution. However, the process of adoption will be less intensive in developing markets due to various reasons. Developing markets will lag behind in using advanced materials owing to the high costs and traditional building designs which is going to change but at a slow rate.
The emerging Asia is anticipated to achieve the substantial growth over the next decade, including China, India, Indonesia, and the Philippines etc. Urbanisation, growing population and increasing labour force will underpin the demand growth.
Government spending on infrastructure is also rising. One Belt One Road (OBOR), Saudi Vision 2030 and $1 trillion US infrastructure are likely to be key drivers supporting demand for cement and concrete.
This article is based on our recently publish report “Global Construction Market: Analysis of Major Emerging Trends and Developments in the Next Decade “. To learn more about the report please contact us at info@commodityinside.com