Transparency Market Research delivers key insights on the global construction market
. In terms of revenue, the construction market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the construction market report.
In the report, TMR predicts that the construction market would be largely driven by factors, such as rise in population and investments in infrastructure. Increase in demand for multifunctional characteristics of construction products, use of artificial intelligence, and a streamlined supply chain are expected to drive the construction market during the forecast period.
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In terms of general construction, the residential segment accounts for maximum share of the market. It is estimated to maintain its dominant position during the forecast period. Various housing policies, low interest on loans, and increasing population are key factors responsible for the expansion of the residential segment. Urbanization, modernization, and rise in population are factors leading to infrastructure investments, which is boosting the global construction market.