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Construction Market 2023-2027: A Descriptive Analysis of the Five Forces Model, Market Dynamics and Segmentation


NEW YORK, January 6, 2023 /PRNewswire/ — According to Technavio, the building market size is estimated to increase by $1,123.8 billion from 2022 to 2027. The market is expected to grow at a 5.3% CAGR during the forecast period. APAC will account for 50% of market growth over the forecast period – For more information on market size Request a sample report

Technavio has announced its latest market research report titled Global Construction Market 2023-2027

Technavio has announced its latest market research report titled Global Construction Market 2023-2027

Global construction market – Five forces
The global construction market is fragmented and the five forces analysis covers–

  • The bargaining power of buyers

  • The threat of new entrants

  • Threat of rivalry

  • Bargaining power of suppliers

  • The threat of substitutes

  • Interpreting the five porter patterns helps in strategizing for the business, for all the details – buy the report!

Global Construction Market – Customer Landscape

The report includes the market adoption lifecycle, from innovator to laggard. It focuses on adoption rates in different regions based on penetration. In addition, the report also includes key purchase criteria and price sensitivity factors to help companies assess and develop their growth strategies.

Global Construction Market – Segmentation Assessment

Overview of segments
Technavio has segmented the market based on type (building construction, civil and heavy engineering, land use and development, and specialist contractors), end user (private sector and public sector) and geography (APAC, Europe, North America, Middle Eastand Africaand South America).

  • The growth in the market share of building construction sector will be higher than other segments during the forecast period. Building construction has increased as the burden on the fastest growing cities has intensified. The main driver of the building construction sector is certainly the increase in spending on construction-related activities.

Geographic overview
By geography, the global construction market is segmented into ACPA, Europe, North America, Middle East and Africaand South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global construction market.

  • APAC will account for 50% of the market growth over the forecast period. The expansion of the construction industry in APAC is due to the increase in construction activity in developing countries like India, Afghanistanand Bangladesh. In Asia-Pacific, the construction industry is expected to expand gradually over the forecast period, creating a need for new infrastructure to meet the housing and business needs of the expanding urban population.

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Global construction marketMarket dynamics

Key driver of market growth

  • Increasing infrastructure investment is a key driver for market growth.

  • Governments around the world are investing heavily in the construction of sports facilities and infrastructure. Over the next 10 years, investments in capital-intensive projects and infrastructure development are expected to increase significantly, driving the expansion of the market.

  • Governments, however, are eager to spend money on building hospitals and health infrastructure. These expenditures in the construction sector are expected to accelerate the growth of the market.

Main trends influencing the market

  • The emergence of smart cities is an important growth trend in the market.

  • In order to manage city operations efficiently, smart cities integrate information and communication while using the latest technologies. The emergence of smart cities translates into advances in functional areas such as management, energy efficiency and sustainability.

  • The need for installing road safety equipment in advanced road network systems is increasing as the number of smart city projects increases globally. Additionally, adoption of dry construction techniques and development of green buildings will drive the growth of the market over the forecast period.

Major challenges hampering the growth of the market

  • Lack of work in the construction industry is a major challenge to market growth.

  • The problem of a shortage of skilled workers is particularly acute in a number of places, including APAC, Europeand South America. It is therefore more difficult to outsource the work to other countries.

  • In particular, the construction industry and the government are trying to intervene by hiring immigrants. However, the majority of immigrants are illiterate and ignorant. These factors are expected to hamper the growth of the market over the forecast period.

Driver, Trend & Challenges are the factors of market dynamics that indicate business consequences and sustainability, find some information from sample report!

What are the key data covered in this construction market report?

  • CAGR of the market over the forecast period

  • Detailed information on the factors that will drive the growth of the construction market between 2023 and 2027

  • Accurate estimation of the size of the construction market and its contribution to the parent market

  • Accurate predictions on upcoming trends and changes in consumer behavior

  • Growth of the construction market throughout the APAC region, Europe, North America, Middle East and Africaand South America

  • An in-depth analysis of the market competitive landscape and detailed vendor information

  • Comprehensive analysis of the factors that will challenge the growth of the construction market vendors

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Related reports:

United States Commercial Construction Market by Sector, Type and Geography – Forecast and Analysis 2023-2027: It is estimated that the US commercial construction market growing at a CAGR of 1.62% between 2022 and 2027. The market size is expected to increase by $107.69 billion. The rise in green building construction is notably driving the growth of the market, although factors such as lack of labor in the construction industry may hamper the growth of the market.

Smart Buildings Market by Product, Solution and Geography – Forecast and Analysis 2023-2027: The market for smart buildings is estimated at grow at CAGR of 9.73% between 2022 and 2027. The market size is expected to increase by $46,123.2 million. The growing need for building automation to improve business outcomes is notably driving the growth of the market, although factors such as high switching and installation costs may hamper the growth of the market.

Scope of the construction market

Report cover


Page number


base year


Historical period


Forecast period


Growth momentum and CAGR

Accelerate at a CAGR of 5.3%

Market Growth 2023-2027

$1,123.8 billion

Market structure


Annual growth 2022-2023 (%)


Regional analysis

APAC, Europe, North America, Middle East and Africa and South America

Successful market contribution

APAC 50%

Key countries

United States, China, Japan, India and Germany

Competitive landscape

Major Vendors, Vendor Market Positioning, Competitive Strategies and Industry Risks

Profiled Key Companies

Actividades de Construccion y Servicios SA, Al Habtoor Group LLC, BAUER AG, Bechtel Corp., Bennett Construction Ltd., China Railway Group Ltd., China State Construction Engrg. Corp. Ltd., Christiansen and Essenbaek AS, Colas SA, Eiffage, EKE Group, Etex NV, Hindustan Construction Co. Ltd., Larsen and Toubro Ltd., MCC, Shimizu Corp., Skanska AB, Vinci SA, ZEPPELIN GmbH, and Lendlease Corp .

Market dynamics

Parent market analysis; Market Growth Drivers and Barriers; Analysis of fast growing and slow growing segments for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Browse Technavio “Industrial” research reports


1. Summary

2 Market landscape

3 Market sizing

4 Historical market size

5 Five forces analysis

6 Market Segmentation by Type

7 Market Segmentation by End User

8 Customer Landscape

9 Geographic landscape

10 drivers, challenges and trends

11 Supplier Landscape

12 Vendor Analysis

  • 12.1 Suppliers Covered

  • 12.2 Market Positioning of Suppliers

  • 12.3 Activities of Construction and Services SA

  • 12.4 Al Habtoor Group LLC

  • 12.5 BAUER S.A.

  • 12.6 Bechtel Corp.

  • 12.7 China Railway Group Ltd.

  • 12.8 State Building of China Engrg. Corp. ltd.

  • 12.9 Etex AG

  • 12.10 Hindustan Construction Co.Ltd.

  • 12.11 Larsen and Toubro Ltd.

  • 12.12 Lendlease Corp.

  • 12.13 CCM

  • 12.14 Shimizu Corp.

  • 12.15 Skanska AB

  • 12.16 Vinci SA

  • 12.17 ZEPPELIN GmbH

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Checklist of inclusions and exclusions

  • 13.3 Currency conversion rates for the US dollar

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Global construction market 2023-2027

Global construction market 2023-2027



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