Simplify B2B Networking
The global construction industry, led by some of the world’s largest construction companies, has long been one of the backbones for the global economy growth. Construction industries in some of the world’s largest economies such as China, the UK and the US are thriving over the recent decades, mainly driven by the rising demand in housing, commercial building and infrastructures. Some of the key emerging markets including Brazil, Thailand, Mexico, Saudi Arabia and Nigeria are also expected to witness faster than ever growth rates in their construction sectors over the recent years. As the steady growth of the global construction industry continues in 2020, despite the fluctuating growth rates in some regional markets, the world’s top 10 largest construction companies are forecast to further increase their sales and revenues over the next few years.
Bizvibe’s smart B2B marketplace solutions can effectively help buyers and suppliers in the global construction industry to find and connect with each other, shorten the sourcing and purchasing cycles, and maximise their profit growth. Join today to see how BizVibe can help your business grow!
The global construction industry output was totalled US$10.8 trillion in 2017, and this figure is expected to reach US$12.9 trillion by 2022, then grow by 3.4% till 2023, according to a recent market report from GlobalData. Another industry outlook from PwC also forecasts that the volume of construction output will grow by 85% to $15.5 trillion worldwide by 2030, with three countries, China, US and India , leading the way and accounting for 57% of all global growth.
When it comes to regional markets, Asia Pacific and Latin America are expected to be the largest contributors to the global construction market, expecting to represent more than half of the world’s construction output by 2020. One of the key drivers for the global construction industry growth is the fast-growing rates in the emerging markets such as India, China, Vietnam, Australia, and Indonesia. In Asia Pacific, India and China are expected to contribute the most to the global construction market accounting to $55 trillion by 2030. Currently, the African construction industry values at $210 billion and is expected to reach about $300 billion in 2021. In Europe, the Brexit uncertainty and inflationary input costs will be key challenges in the construction market in the region.
Moreover, as GlobalData reports, “geopolitical risks are intensifying, and could potentially undermine investor confidence and disrupt capital flows in the early part of the forecast period. Risks to the overall forecast stem primarily from a possible escalation in the trade war between the US and China, and also inflamed tensions between the US and Iran following the recent drone strikes on Saudi Arabia’s largest oil processing center, which have been blamed on Iran. There are also other major emerging markets facing domestic political and economic stresses that could erupt into full-blown crises, creating a risk of contagion across these markets”.
2018 Sales: $181.5 billion
China State Construction Engineering Corp. is the largest construction company in the world. It is a Chinese state-owned construction company and general contractor. China State Construction Engineering Corp operates through 30 country-specific teams, with a marketing network covering markets in Africa, ASEAN and surrounding regions, Central Asia, Central and Eastern Europe and Latin America. It is headquartered in Beijing, China and employs around 10,000 people.
2018 Sales: $112 billion
China Railway Group Limited (known as CREC) is a world-leading construction conglomerate with more than 120 years history. As one of the world’s largest construction and engineering contractors, CREC takes a leading position in infrastructure construction, industrial equipment manufacturing, scientific research and consulting, real estate development, resources development, financial trust, trade and other fields. By the end of 2018, CREC has owned the total assets of $133.24 billion and the net assets of $31.4 billion.
2018 Sales: $110.5 billion
China Railway Construction Corporation Limited (abbreviated CRCC) is one of the world’s largest construction companies based in Beijing, China. The Company’s engineering contracting businesses mainly include the construction of railways, highways, urban tracks, water conservancy and hydropower projects, buildings, municipal projects, bridges, tunnels, airports and marine ports, among others. The Company is also engaged in the industrial manufacturing, the real estate development, the logistics and materials trading businesses, as well as the provision of survey, design and consulting services. The Company mainly operates its businesses in domestic and overseas markets.
2018 Sales: $73.9 billion
China Communications Construction Company, Ltd. Is another state-owned, publicly traded, multinational engineering and construction company based in China. The company is mainly engaged in the design, construction and operation of infrastructure assets, including highways, bridges, tunnels, railways, subways, airports, and marine ports.
2018 Sales: $51.4 billion
Vinci is one of the world’s largest construction companies employing over 185,000 people. It is mainly involved in the design, building, finance and management of facilities for transport systems, public and private buildings and urban development and water, energy and communication networks. The majority of its business is in France, but it operates in over 100 countries and is expanding its global power, mainly by buying up local subsidiaries.
2018 Sales: $43.8 billion
China Metallurgical Group Corporation is a Chinese state-owned enterprise headquartered in Beijing. MCC is one of the China’s largest mining and metals engineering and construction companies with extensive experience in the design, engineering, construction and operation of base metals processing operations. It also has operations in natural resources exploitation, papermaking, equipment fabrication, real estate development sectors.
2018 Sales: $43.3 billion
Actividades de Construcción y Servicios, S.A. is a world’s leading engineering and construction company based in Madrid, Spain. It owns a huge construction portfolio around the world, with many major projects in countries such as Germany, India, Brazil, Chile, Morocco and Australia. The Company’s other businesses include Industrial Services (such as engineering, installation and maintenance of industrial infrastructure in energy, communication and controlling system sectors) and Environment (such as street cleaning, waste collection and transportation, waste recycling, commercial and industrial management of water circulation and urban gardening).
2018 Sales: $42 billion
Bouygues is a France-based diversified services group. Its businesses focus on three sectors: construction, with Bouygues Construction (building, civil works, energy and services), Bouygues Immobilier (property) and Colas (roads), telecoms with Bouygues Telecom and media with TF1. Bouygues Construction designs, builds and operates building, infrastructure and industrial projects, now has become one of the world’s leading construction companies.
2018 Sales: $34.3 billion
Daiwa House Industry Co., Ltd. designs and builds residential, commercial, and institutional buildings. The Company constructs single-family houses, collective housings, condominiums, stores, office buildings, factories, and hospitals. Daiwa House Industry also operates real estate businesses. The Company, through its subsidiaries, manages hotels and golf country clubs. The company was founded in 1947 and is headquartered in Osaka, Japan.
Country: South Korea
2018 Sales: $28.3 billion
Samsung C&T Corp is a Korea-based company principally engaged in the trading of industrial goods. The Construction segment constructs office buildings, roads and railways, gas-fired power plants, coal-fired power plants, nuclear power plants, and houses, among others. Samsung C&T is one of the leading players in the global construction market. The company was involved in the Burj Khalifa project, the world’s tallest skyscraper in Dubai, the United Arab Emirates.
Technology innovations and the rising concerns of environment are some of the major factors that are shaping the future trends of the global construction industry. Nowadays, many world’s largest construction companies are increasingly using autonomous construction machineries to improve productivity. These automated equipment and machineries are often equipped with digital sensors, cameras and GPS. Real-time data obtained from these devices helps in remote monitoring of jobsite and reduces construction time. Meanwhile, many building and construction companies are increasingly adapting green construction techniques to build energy efficient buildings and reduce environment pollutions. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact, which has become one of the major trends in the global construction industry.
Join BizVibe and connect with thousands of world’s leading construction industry suppliers and buyers today!