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Global construction industry spending 2014-2019, with forecasts up until 2035

The construction industry grew to a spending value of close to 12 trillion U.S. dollars before the coronavirus pandemic, and is expected to grow by three percent per annum. This includes building projects in real estate - either residential or commercial - but also in infrastructure or industrial structures. Construction spending data includes cost of labor and materials, architectural and engineering work, and taxes.

The United States has one of the largest construction industries in the world, with their total value of new construction having grown since the global Recession. Between 2019 and 2020, Buenos Aires is expected to the have one of the largest growths in the city’s constructions costs. In 2021, Asia Pacific is expected to have the highest construction industry output in the world.

Construction industry spending worldwide from 2014 to 2019, with forecasts from 2020 to 2035

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Sources

Release date

June 2020

Region

Worldwide

Survey time period

2014 to 2019

Special properties

The source adds that "due to COVID-19, the amount of spending in 2020 and subsequent years is likely to change."

Supplementary notes

The figures have been taken from several publications, as the figures for 2014 to 2017 were published before.

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