Global Impact of COVID-19 on Construction Industry Market report from Global Insight Services is the single authoritative source of intelligence on Impact of COVID-19 on Construction Industry Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. 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 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.
Market Segments:
By Type:
- Residential
- Non-Residential
- Heavy & Civil Engineering
By Region:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
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Key Market Players:
- Bechtel Group
- Balfour Beatty
- Group ACS
- China State Construction Engineering Corporation Limited
- L&T Construction
- PCL Construction Enterprises
- Skanska Construction
- VINCI
- TechnipFMC
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