APAC Issue 11 2018

APAC / Issue 11 2018 13 , The construction industry includes architectural services, the physical processes of building, infrastructure development, civil engineering, the assembly and installation of prefabricated components and equipment, and repairs and maintenance for already built structures. This industry is further classified as follows – Construction Of Buildings – The building construction industry includes establishments involved in the construction of residential and non-residential buildings. Heavy And Civil Engineering Construction – The heavy and civil engineering construction market comprises companies carrying out utilities, highway, street and bridge construction. Specialty Construction Contractors – The specialty construction contractor’s industry includes establishments involved in performing specific activities such as pouring concrete, site preparation, plumbing, painting The Global Construction Market Was Estimated to be Around $17140 Billion as of 2017 The global constructionmarket is expected to grow to $24334.9 billion in 2021 at an impressive compound annual growth rate (CAGR). This can be attributed to the growing economy in emerging countries, increasing population, rising public-private partnerships in infrastructure development, and increasing government investments in large-scale infrastructure projects such as railways and highways. and electrical work related to construction of buildings. Land Planning And Development – This industry includes land development establishments that service land and subdivide real property into lots, for subsequent sale to builders. Asia Pacific was the largest region in the global construction market, with almost 60% share of the market. This was mainly due to the presence of a large number of construction companies serving a large customer base in countries such as China and India and high government spending on infrastructure projects such as roads, railways and residential buildings in the region. Building Construction was the largest segment in the construction market with almost 49% share of the market worth $8452 billion. This was mainly due to the large number of building construction companies in both developed and developing countries such as the USA, China, Japan and India to cater to a large customer base in these regions. Merger and acquisition activities in the construction market have been at a high level in the last three years. Major deals include those done by AECOM, Jacobs Engineering, John Wood Group, SNC-Lavalin, Zhejiang Jiangshan Chemical, Salini Impregilo, and Standard Pacific Corp. China State Construction Engineering Corp. was the largest company in the construction market in 2017 with 0.68% share of the market.