The global construction industry includes preparation of construction land, alteration, and repairing of residential, commercial and industrial as well as civil engineering works. Factors that were driving the construction industry before pandemic COVID-19 include continuous growth in the economy of the emerging countries, rising investors’ confidence in the infrastructure sector and significant investment by the government in transport, energy and housing projects. Besides, the rising disposable income of the people was also augmenting the demand for well-constructed residential buildings in the emerging economies. 

However, after the COVID-19 pandemic, one of the most affected sectors all across the globe is building & construction. Multiple countries have been lockdown and most of the construction activities have been halted until the eradication of the virus. Due to this, millions of temporary workers have lost their jobs in the construction industry. Besides, the effect of COVID-19 will be witnessed in the long term in the construction industry. Due to coronavirus, governments all across the globe are providing billions as relief packages, which results in increasing the debt of the respective countries. In the future, those countries can compromise with their infrastructure development projects by allocating fewer funds to balance their debt. 

The global construction industry report is segmented based on residential building, commercial buildings, industrial, heavy and civil engineering construction, and others. Among all this, heavy and civil engineering construction can be affected significantly in the near future as a large share of these segment comprises of government funding.  With the economic slowdown, and downfall in tax collection; the fund allocated for public infrastructure can be reduced by the government. Commercial and industrial segments are also expected to get affected as a considerable economic loss will be observed by most of the companies, which will reflect in their expansion projects. 

The effect of COVID-19 on the construction industry can be observed in all the regions including North America, Europe, Asia-Pacific, and Rest of the World. Europe and North America are the most affected regions due to the COVID-19 pandemic. Around 370,000 confirmed cases in the US and around 640,000 cases in Europe have been registered by the first week of April 2020. Key companies of the construction industry that are getting affected globally include China Communications Construction Co., Ltd., Shanghai Construction Corp., PowerChina Construction Group Co Ltd., Larsen & Toubro Ltd., VINCI SA, STRABAG SE, Bechtel Corp., Skanska AB and so on. Due to COVID-19 pandemic companies have to halt their undergoing projects due to lack of workers at construction sites. No significant hurdle in the supply chain of raw material has been witnessed all across the globe till now however if the pandemic remains during for next couple of months, some raw material such as cement, steel importing countries can face the supply chain issue. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the global construction industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on the construction industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the global construction industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global construction industry.
• Insights about market determinants which are stimulating the global construction industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.