Lucintel's latest market report analyzed that construction industry provides attractive opportunities in the residential, non-residential, and infrastructure building sectors. The construction industry is expected to reach $12.9 billion by 2028 with a CAGR of 4.4%. In this market, residential construction is the largest segment by type. increasing demand for green construction to reduce carbon footprint, bridge lock-up device systems to enhance the life of structures, building information systems for efficient building management, and use of fiber-reinforced polymer composites for rehabilitation of aging structure provides strategic growth path in this market.
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Based on type, the construction industry is segmented into rresidential, non-residential, and infrastructure. The residential construction segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to rising per capita income and higher disposable income.
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The Construction Industry is marked by the presence of several big and small players. Some of the prominent players offering construction industry include China Railway Group Limited, China Railway Construction Corp. Limited, China Communications Construction, Grupo ACS, China State Construction Engineering, Vinci, Bouygues, HOCHTIEF, and Metallurgical Corporation of China.
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