Construction Industry Projected to Grow 3.9% Annually

October 30, 2015

The construction industry is expected to grow at an average annual rate of 3.9 percent over 2016-2020, according to a report by Timetric’s Construction Intelligence Center (CIC).

The global construction industry has regained growth momentum, with the pace of expansion accelerating from an annual average of 2.7 percent a year in real terms in 2011–2013 to 3.1 percent in 2014. CIC forecasts a further rise to 3.8 percent in 2015, and then an average annual increase of 3.9 percent over 2016–2020. 

The global construction industry is projected to grow from US $7.4 trillion in 2010 to US $8.5 trillion in 2015 and to US $10.3 trillion in 2020, when measured at constant 2010 prices and exchange rates.