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APAC Region Would Dominate the Construction Market Over the Period 2015-2019



Study Report On Construction Industry

Over the last decade, the global construction industry has undergone changes in myriad number of ways. The multifaceted aspects include but is not limited to the terms of competition rules, delivery systems, the criteria of selection of contractors, financial resource diversity, key products portfolio and new emerging models of partnership.

Construction firms are growing in the global construction market with the help of innovative market strategies such as diversifying revenue sources which helps in securing global competitiveness.

Globally, construction industries in the Asia-Pacific region are set to slow over the coming five-year time horizon. Growth in emerging market construction sectors such as Australia and South Korea will slow over the coming years and converge towards the global average. As mentioned by a recent report titled “Construction in South Korea - Key Trends and Opportunities to 2019”, industry growth will be supported by residential, commercial and infrastructure projects. . However, the market is said witness steady growth in countries such as Indonesia, Peru, and Spain.

Recently, Research Beam has added a report titled “Construction in Indonesia - Key Trends and Opportunities to 2019”. As per the report, in real terms, the industry’s output value would grow at a CAGR of 7.87% up from 6.62% amid the forecast period.

There are a plethora of large-scale commercial projects in the pipeline in Indonesia. In January 2015, PT Lippo Karawaci Tbk (LPKR), a property developer, has begun a milestone property project tiled “Millennium Village: The Global Smart City” in the primary business district of Lippo Village, Banten province.

It is said to provide growth momentum to the residential construction market amid the forecast period. This is due to the government’s focus on infrastructure and energy construction, through the implementation of the multi-year Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI).

Construction industry in Peru is expected to grow over the next five years period. Owing to a surge in public-private investment in infrastructure, energy, healthcare, education and mining sector. As per a recent report added by Research Beam titled “Construction in Peru - Key Trends and Opportunities to 2019”, the key market drivers are the fiscal incentives through various plans of the government which has rebuffed investment in the energy & healthcare sector and upgrading road infrastructure. The National Energy Plan 2014-2025 is a case in point which has been done with an aim to strengthen the use of renewable energies to strengthen sustainable development of the country along with providing fillip to the construction market in Peru.

Spain’s construction industry have recovered from the economic recession. The European debt crisis, high rate of unemployment and contracting disposable incomes are the factors that had negatively impacted the growth of the construction industry in Spain. A trend of recovery in the country’s non-residential real estate activities is anticipated to strengthen along with the economic recovery in 2015. The government has planned to increase investment spending in the 2015 state budget by as much as 8.8%. This would speed up the process of modernisation and expansion of the economy in Spain.

The various reports added by Research Beam on the construction industry in the aforementioned regions offers an in-depth insight into the current and future market growth prospects, key market drivers and restraints along with the business profile of leading vendors

To sum up, fuelled by immense opportunities, the countries of Asia Pacific region such as Australia and South Korea are expected to dominate the construction industry in future, coupled with an increased government spending on infrastructure projects.

 

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