According to a new market research report published by Global Insight Services ”Impact of COVID-19 on Construction Industry Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
The novel coronavirus (COVID-19) pandemic has had a significant impact on the construction industry. The most immediate effect has been the shutdown of construction activity in many jurisdictions around the world in an effort to contain the spread of the virus. This has led to a sharp decline in construction output and a rise in project cancellations and delays.
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Key Players
The impact of COVID-19 on construction industry market includes players such as Automated Construction Technology, Bechtel Group, Balfour Beatty , Group ACS, China State Construction Engineering Corporation Limited, L&T Construction, PCL Construction Enterprises, Skanska Construction, VINCI, TechnipFMC and Bouygues.
Key Trends
The COVID-19 pandemic has had a significant impact on the construction industry. The most immediate effect has been the slowdown of construction activity due to the lockdown measures implemented by governments around the world. This has led to a decrease in demand for construction materials and products, and a corresponding decrease in prices.
The decrease in activity has also had a negative impact on the employment levels in the construction industry, with an estimated 9.5 million construction workers globally expected to lose their jobs in 2020.
The pandemic has also accelerated the adoption of digital technologies in the construction industry.
Key Drivers
The outbreak of COVID-19 has had a profound impact on the construction industry. The most immediate and visible impact has been the slowdown of construction activity in many parts of the world as a result of the pandemic. The construction industry is highly dependent on a large and mobile workforce, and the outbreak of COVID-19 has led to a significant disruption in the supply of labor. In addition, the pandemic has had a significant impact on the demand for construction, as the economic slowdown has led to a decrease in demand for new construction projects. The combination of these factors has led to a sharp decrease in construction activity in many parts of the world.
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Market Segments
The impact of COVID-19 on construction industry market is segmented by type and region. By type, it is divided into residential, non-residential, heavy & civil engineering. By region, the market is segmented into North America, Europe, Asia- Pacific and Rest of the World.
Reasons to buy Impact of COVID-19 on Construction Industry Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
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