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Global construction industry promises steady growth in coming years
Research - JANUARY 6, 2020

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Global construction industry promises steady growth in coming years

by Kali Persall

The global construction industry is growing steadily, according to a new report that predicts the industry will hit $10.8 trillion by 2023.

According to a global construction industry databook series by Research and Markets, the average revenues of this industry will be propelled by continuous major economic growth in various developed and emerging markets, along with lucrative financing deals backed by low interest rates. These factors are poised to drive growth within the industry at an expected compound annual growth rate (CAGR) of 6.5 percent.

In particular, the commercial building construction market is expected to record a market value CAGR of 8 percent over the forecast period. In 2018

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