Market overview and development prospect of global construction industry in 2019

Analysis of the development of the global construction industry infrastructure investment is crucial for the most advanced economies and countries in the early stages of development. For developing economies, infrastructure can have a truly transformative impact on citizens' lives and business prospects with the construction of roads, the installation of reliable electricity and clean water for all. In a more mature economy, keeping up with demand and building new and upgraded infrastructure are also key coatings online coatingol.com to maintain economic growth. The construction industry not only has a direct impact on the global economy, but also has an important connection with other industries, which means that its impact on GDP and economic development far exceeds the direct contribution of construction activities. The improvement of infrastructure promotes the growth of GDP, while the availability of infrastructure can improve productivity and promote competition and cooperation. According to the world economic forum, the construction industry has more than 100 million jobs in the world, accounting for 6% of global GDP. More specifically, the added value of the construction industry accounts for about 5% of the GDP of developed countries and 8% of the GDP of developing economies. It is expected that there will be a large number of infrastructure needs in the next two decades, but these needs can only be solved when the government increases its share of GDP in infrastructure construction. By 2040, the global infrastructure investment is estimated to be $3.7 trillion per year. It should be considered that compared with other regions, America and Africa have the largest infrastructure investment gap.

The scale of the global construction market has reached US $11.4 trillion, and the scale of the world construction market is expanding. According to statistics, the scale of the world construction market has increased from US $9.5 trillion in 2014 to US $11.4 trillion in 2019, with an average compound growth rate of 3.71% in 2014-2019. Forecast of global construction industry development prospect according to the forecast of Oxford Institute of economics, the total output of global construction industry in 2030 will increase by 85% compared with 2014, reaching US $17.5 trillion, with a compound annual growth rate of 3.9%. In the past 2016-2030 years, the cumulative output value of the global construction industry is expected to reach US $212 trillion. Among them, the total output value of the countries along the belt and road is expected to reach US $44 trillion and 600 billion, and the average annual market space is expected to exceed US $3 trillion. With the continuous enrichment of overseas business experience of China's international engineering enterprises, the overseas market is expected to become an important performance growth point of China's international engineering contracting enterprises in the future. In 2013, our country put forward the strategic conception of building the new Silk Road Economic Belt and the "maritime Silk Road in twenty-first Century", and the related policies continued to exert force to promote the infrastructure construction along the "one belt along the road", and China's international engineering contracting enterprises ushered in new opportunities for development.

There are more than 60 countries along the "one belt" road, most of which are emerging economies and developing countries, with a total population of over 3 billion and an economic total of over 20 trillion dollars. With the continuous progress of urbanization in the countries along the line, there is a huge demand for investment in the existing urban transportation, water supply network, power supply system and other infrastructure. 3. An analysis of the development of the construction industry in the United States the construction industry in the United States is quite developed, more than 96% of the houses are equipped with modern sanitary facilities, and the design, construction and decoration of the houses have a high level. Modern residential areas in the United States are developed on the basis of traditional residential areas. After decades of hard exploration, they have shown a high level in community planning, design, residential buildings, community environmental construction and property management. Their living environment and ecological environment are of high quality, ranking the world's leading level. According to the data of the Bureau of economic analysis of the US Department of Commerce, in 2018, the added value of the US construction industry reached US $839.1 billion, accounting for 4.1% of GDP. Data from the U.S. Department of labor shows that since 2010, the number of construction jobs in the United States has kept increasing year by year. As of October 2019, the number of construction jobs in the United States has reached 7.602 million.

An analysis of the development of Japanese construction industry the construction industry is a highly developed industrial country, which is the pillar industry of Japan. Strictly speaking, the economic development of Japan after World War II is driven by the government's investment in the construction industry to a large extent. Infrastructure has been in scale since the 1970s and 1980s. With the reconstruction after the 2011 earthquake and the holding of the 2020 Tokyo Olympic and Paralympic Games, a round of upgrading of domestic infrastructure is needed, resulting in the growth of domestic infrastructure orders. At the same time, in 2013, the Japanese construction industry entered a recovery period due to the economic stimulus policy adopted by Abe cabinet, devaluation of yen and monetary easing policy. In 2017, the added value of Japanese construction industry was 31328.8 billion yen, which further increased to 5.7% of Japan's GDP. Note: the Cabinet Office of Japan has not released the added value data of Japanese construction industry in 2018, so this data is only updated to 2017. In 1996, the number of construction workers reached an all-time high (6.92 million), an increase of 165% over 1960. After the real estate bubble burst, the number of workers began to drop sharply. Besides the decline of construction industry due to the collapse of the real estate bubble, the demand for workers has declined. The turning point of demographic dividend is also a major factor in the number of construction workers. After 1980, the number of workers in the construction industry has been in a downward trend due to the declining adult population, rising dependency ratio (number of non working population / number of working population) and decreasing supply of workers. The reduction of the number of workers, especially the number of experienced engineers and workers, is very detrimental to the competition of Japanese construction enterprises in the overseas market.

Since 2010, the total number of employees and employees in the construction industry in Japan has remained at a relatively stable level. By the end of October 2019, the number of employees in the construction industry in Japan was 4.94 million and the number of employees was 4.07 million. 5. Analysis on the development of EU construction industry it is very important for EU economy. It provides 15 million direct jobs and contributes about 4.84% of EU GDP. In the EU, the construction industry is also creating new jobs, driving economic growth and providing new solutions to social, climate and energy challenges. From 2010 to 2018, the added value of the construction industry in the 28 countries of the European Union maintained an overall growth trend. In 2018, the added value of the construction industry in the European Union reached 777.797 billion euros, a year-on-year increase of 6.4%. From 2010 to 2018, the proportion of the added value of the construction industry in the 28 countries of the European Union in the GDP of the European Union decreased first and then recovered. In 2018, the proportion of the added value of the construction industry in the 28 countries of the European Union in the GDP of the European Union was 4.89%. From 2010 to 2018, the number of construction employment in the 28 countries of the European Union decreased first and then recovered. In 2018, the number of construction employment in the 28 countries of the European Union further recovered to 15.34 million. The above data and analysis are all from the analysis report on market prospect and investment strategy planning of China's Construction Industry issued by the prospective industry research institute. Meanwhile, the prospective industry research institute also provides solutions such as industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion, etc.