What is the growth rate of construction?

Construction will be an economic driver over the medium term with growth averaging 4.4% between 2020 and 2025 – higher than the estimated growth in both the manufacturing and service sectors. Over the period 2020 to 2030 growth in construction output is projected to average approximately 3.5% per annum.

How many construction companies are there in Indonesia?

Number of construction establishments in Indonesia 2012-2021 In 2021, there were approximately 203.4 thousand construction establishments active in Indonesia. Indonesia’s construction industry was experiencing increased growth due to increases in infrastructure construction.

Is construction the largest industry in the world?

The construction sector is one of the largest in the world economy, with about $10 trillion spent on construction-related goods and services every year. However, the industry’s productivity has trailed that of other sectors for decades, and there is a $1.6 trillion opportunity to close the gap.

How fast is the construction industry growing?

In 2020, the output was $10.7 trillion, and the report’s authors expect output to grow to approximately $13.3 trillion by 2025 and $15.2 trillion by 2030. Average growth in construction output is predicted to hit 3.6% per annum over the decade to 2030, which is faster than either the manufacturing or services sectors.

Where in the world is construction booming?

Construction worldwide is predicted to grow 3.7% in 2022 according to the Construction Intelligence Center, with the largest share of growth to happen in the Asia-Pacific region and China. The fastest growth is expected in Sub-Saharan Africa, including Ethiopia and Eastern African countries.

How big is the construction industry in Australia?

$360 billion
The Construction industry generates over $360 billion in revenue, producing around 9% of Australia’s Gross Domestic Product, and has a projected annual growth rate of 2.4% in the next five years. Most businesses in this industry are either sole traders or very small, employing less than 20 people.

Why is construction slowing down?

The exact cause ranges from extreme weather to a lack of shipping containers to – most recently – economic sanctions. Prices are likely to decline again, although we expect this to be piecemeal rather than uniform. Large cities across the U.S. lifted their remaining pandemic restrictions in the last months.