Global spending in construction is forecasted to hit $17.5 trillion by 2030, according to a recent analysis by Frost & Sullivan’s entitled, Future of Construction, Global, 2030.
The study looked at key trends that are likely to disrupt the construction industry in the next five to 10 years, such as digitization, autonomy, new business models and sustainability, as well as economic and social trends within the residential, nonresidential, and infrastructure sectors.
According to the report, China, the United States and India are leading the way in construction spending, accounting for 57 percent of all global growth. Furthermore, more than 60 percent of the global infrastructure investment will take place in emerging economies, particularly Asia, while the United States and Canada will contribute almost 20 percent.
Buildings and civil infrastructure are expected to be the fastest-growing segments in emerging economies from 2018 to 2030,