The construction industry includes architectural services, the
physical processes of building, infrastructure development, civil engineering,
the assembly and installation of prefabricated components and equipment, and
repairs and maintenance for already built structures.
The construction
market in this report is segmented into building construction, heavy and civil
engineering construction and specialty construction contractors. The report
also covers the residential construction market and non residential
construction industry.
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The global construction industry market size has been growing in the
past years with a CAGR of almost 7%. Asia Pacific was the largest region in the
construction market in 2017, accounting for more than 60% market share.
TBRC’s latest report show the historic and future trends in the market
for each year with sourced reasons to support the growth claims.
The report also shows
the global construction market to grow at a higher CAGR by 2021 as compared to
2017.
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Global Construction Trends
Construction companies are adopting digital technologies such as augmented
reality (AR), virtual reality (VR) and wearables to improve construction site
safety. VR and AR enable construction managers to view jobsite conditions in a
simulated environment. They can also be used for training workers on safe
operation of heavy equipment in a controlled environment. Wearables can track
workers in the field to protect them from jobsite hazards and other potential
injuries. New safety devices such as carbon monoxide-detecting hats use
noninvasive blood oxygen monitors to alert workers in areas with high carbon
monoxide emissions and CO2 bricks. For instance, Skanska USA, a leading
construction group, is using equipment sensors and labor tracking technology to
ensure safety of workers. In 2016, Bechtel, a US-based construction and civil
engineering company, started VR immersion safety training for its workers. New
South Construction Company in Atlanta is using Oculus Rift VR headsets for
project imaging and worker safety.
Companies included in the report are China State Construction
Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction
Corporation Limited, China Communications Construction Group Ltd., Vinci SA,
Power Construction Corp. Of China, Bechtel Corporation*, Grupo ACS, Bouygues
SA, and Skanska Group.
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