Data Based Analysis

Global Construction 2030

Declines Forecast in 2023 in 82 of the 112 Countries
Weakest outlook for Western Europe

Higher interest rates, weaker economies and budgetary pressures on the public sector are all likely to depress 2023’s construction volumes

We expect construction volumes to decline in 2023 in 18 of 19 Western European countries that we publish forecasts for

A further decline in Western Europe appears likely in 2024 and the subsequent recovery may be slow

2022’s construction volumes in Western Europe are not expected to be recouped before 2028

Forecast Average Annual Growth Rates 2023-2030

Construction volumes are forecast to grow by an average of 1.7% pa. in the 112 countries in 2023-30

Growth averaging more than 6.5% per annum is forecast in 11 emerging market countries, including India

Adjusting our estimates for the average loss of value in the local currency over the last 12 years, 5 of the 11 countries are still forecast to have 2023-30 growth rates at least triple that of the US