Three nations forecast to rule global construction
Almost 200 countries dot planet earth, yet just three will dominate real estate construction through the year 2025: China, India and the United States.
That is the conclusion of construction economists surveyed by Rider Levett Bucknall. The firm’s latest report forecasts that the volume of global construction will grow by 70 percent from 2012 through 2025, from $8.7 trillion to $15 trillion, with China generating more than one-quarter of global construction during the time period.
China eclipsed the United States in 2010 as the world’s largest construction market and accounted for 18 percent of total global construction in 2012. India is on target to surpass Japan as the third-largest construction market by 2022.
The Rider Levett Bucknall report, which provides a half-yearly snapshot of economic and construction activity, says global growth will continue to be led by Asia, and Chin