Bill Stankiewicz Copy Of Future Of Global Construction To 2014

The Future of Global Construction to
2014
Market Intelligence Report

Reference code: WMCN2275MR

Published: October 2010

www.worldmarketintelligence.com

World Market Intelligence
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© World Market Intelligence. This report is a licensed product and is not to be photocopied

TABLE OF CONTENTS

TABLE OF CONTENTS

1 Introduction ........................................................................................................................... 5
1.1 What is this Report About? ............................................................................................................... 5
1.2 Definitions ........................................................................................................................................ 5
1.3 Summary Methodology .................................................................................................................... 8
2 Executive Summary ............................................................................................................ 11
3 Construction Industry Analysis ......................................................................................... 13
3.1 Global Macroeconomic Scenario .....................................................................................................13
3.2 Construction Industry Overview.......................................................................................................15
3.2.1 Industry Dynamics .................................................................................................................................... 17
4 Construction Industry Data ................................................................................................ 18
4.1 Historic Industry Value ....................................................................................................................18
4.2 Historic Industry Segmentation........................................................................................................19
4.3 Industry Value Forecast ..................................................................................................................20
4.4 Industry Segmentation Forecast......................................................................................................21
5 About World Market Intelligence........................................................................................ 22
5.1 Disclaimer .......................................................................................................................................23

The Future of Global Construction to 2014 Published October 2010
© World Market Intelligence. This report is a licensed product and is not to be photocopied Page 2

TABLE OF CONTENTS

LIST OF FIGURES
Figure 1: Global Overall Construction Industry Dynamics by Market (%), 2005–14 ............................................................................................. 17
Figure 2: Global Construction Industry Value (US$ Trillion), 2005–09................................................................................................................. 18
Figure 3: Global Construction Industry Segmentation by Market (%), 2005–09................................................................................................... 19
Figure 4: Global Construction Industry Value Forecast (US$ Trillion), 2009–14 .................................................................................................. 20
Figure 5: Global Construction Industry Segmentation Forecast by Market (%), 2009–14 .................................................................................... 21


TABLE OF CONTENTS

LIST OF TABLES
Table 1: World Market Intelligence Construction Industry Definitions .................................................................................................................... 7
Table 2: Global Construction Industry Value (US$ Trillion), 2005–09 .................................................................................................................. 18
Table 3: Global Construction Industry Segmentation by Market (US$ Trillion), 2005–09 ..................................................................................... 19
Table 4: Global Construction Industry Value Forecast (US$ Trillion), 2009–14 ................................................................................................... 20
Table 5: Global Construction Industry Segmentation Forecast by Market (US$ Trillion), 2009–14 ...................................................................... 21


DEFINITIONS AND METHODOLOGY

1 Introduction
1.1 What is this Report About?

This report is the result of WMI‟s extensive market and company research covering the global construction
industry*. It provides detailed analysis of both historic and forecast construction industry values, at market
and category level, and analysis of the leading companies in the industry.

“The Future of Global Construction to 2014” provides a top-level overview and detailed market, category and
company-specific insights into the operating environment for construction contractors. It is an essential tool
for companies active across the global construction value chain and for new competitors considering
entering the industry.

*NOTE: The global construction industry comprises of Argentina, Australia, Bahrain, Belarus, Brazil,
Bulgaria, Chile, China, Colombia, Croatia, Czech Republic, Egypt, France, Germany, Hungary, India,
Indonesia, Kuwait, Malaysia, Mexico, Oman, Peru, Poland, Qatar, Romania, Russia, Saudi Arabia, Spain,
Slovenia, Turkey, UAE, the UK, the Ukraine, the US, Venezuela and Vietnam.

1.2 Definitions

For the purposes of this report, the following timeframes apply:

Review period: 2005 to 2009

Forecast Period: 2009 to 2014

The total value of construction projects can be broadly classified into the following sectors, related to the
products and service types provided during the project:

Land acquisition and preparation

Planning and feasibility studies

Architectural and engineering design

Construction
o Construction services
 Labor
 Project management
o Materials
 Building products
 Construction materials
o Construction equipment



Advisory services
o Financing
o Inspection and testing
o Legal

Equipment and furnishings
o Interior products
o Exterior products
o Industrial equipment

Other

This report focuses on the value of the construction industry, based on the total revenue generated by
construction contractors each year.

All data is collected in local currency. To avoid distortions due to currency fluctuations, all conversions into
US$ (of current, historical and forecast data alike) are made at the 2009 annual average conversion rate. All
the values in tables, with the exception of compounded annual growth rate (CAGR) and compounded annual
rate of change (CARC) are displayed to one decimal place; therefore, growth rates may appear inconsistent
with absolute values due to this rounding method.

The key markets featured in the report are defined below:



Table 1: World Market Intelligence Construction Industry Definitions
Market Definition
Commercial construction includes the construction of such projects as office buildings, sports complexes such as
Commercial athletic fields, golf courses and parks, shopping centers, and hotels. For the purposes of this report, the market is
construction split into five main areas: leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings,
and other commercial construction.

Infrastructure construction encompasses a range of heavy infrastructure construction projects. This includes, but is
not limited to, the construction of highways, bridges, tunnels, water lines, sewer lines, pipelines, power and
Infrastructure communication transmission lines, dams, dikes, docks, drainage projects, harbors, reservoirs, canals, sewage
construction treatment plants, water treatment plants, subways, and other mass transit projects. For the purposes of this report,
the market is split into six main areas: energy and communication infrastructure, rail infrastructure, road
infrastructure, sewage infrastructure, water infrastructure, and other infrastructure projects.

Industrial construction consists of the construction, including new build, extensions and major rebuilds, of industrial
buildings. The construction of additional structures with similar production processes to industrial buildings, for
Industrial example, incinerators, cement plants, blast furnaces, and similar non-building structures, is also included. For the
construction purposes of this report, the market is split into seven main areas: chemical and pharmaceutical plants, electricity
generation plants, manufacturing plants, metal and material processing plants, refinery buildings, storage tanks,
and waste processing plants.

Institutional construction includes the construction of buildings and facilities that do not fall within the remit of
commercial construction, but which, by nature, are not industrial. This includes educational institutions, research
Institutional
facilities, healthcare facilities and religious buildings. These may be either public or private sector. For the purposes
construction
of this report, the market is split into five main areas: educational buildings, healthcare buildings, institutional
buildings, religious buildings and research facilities.

Residential construction includes the construction, renovation, and demolition of residential buildings such as
Residential houses, townhouses, cottages, condominiums, single unit dwellings, subdivisions, and apartments. For the
construction purposes of this report, the market is split into three main areas: new multi-family housing, residential building
redevelopment and single family housing.

Source: World Market Intelligence analysis © World Market Intelligence



1.3 Summary Methodology

All WMI reports are rigorously sourced and created according to a comprehensive four-stage methodology:

1) Market study

A) Standardization

Market definitions are specified using recognized industry classifications. The same definition is used
for every country.

Annual average currency exchange rates are collected for the latest complete year. These are then
applied across both the historical and forecast data to remove exchange rate fluctuations

B) Internal audit

Review of in-house databases to gather existing data:
o Historic market databases and reports
o Company database
o Construction magazine portfolio
o Construction projects database

C) Trend monitoring and primary research

Review of the latest construction company and project trends

Biannual surveys using expert panels compiled from across the construction value chain:
o Construction contractors
o Equipment and material manufacturers and suppliers
o Architects and designers
o Project owners and financiers
o Project advisors

2) Research

A) Sources

Collection of the latest market-specific data from a wide variety of respected industry sources:
o Government statistics
o Industry associations
o Company filings
o Broker reports
o International organizations



B) Expert opinion

Collation of opinion taken from WMI journalist interviews of leading industry figures

Analysis of third party opinion and forecasts:
o Broker reports
o Industry associations
o Construction media
o Official government sources

C) Data consolidation and verification

Consolidation of data and opinion to create historical datasets

Creation of models to benchmark data across sectors and geographies

3) Analysis

A) Market forecasts

Feed of forecast data into market models:
o Macroeconomic indicators
o Industry-specific drivers

Analysis of the WMI Construction Projects Database to identify trends by sector:
o Latest project announcements
o Financing shortfalls
o Project cancellations and postponements

B) Report writing

Analysis of market data

Discussion of industry trends and issues

Integration of survey results



4) Quality control

A) Templates

Detailed process manuals

Standardized report templates and accompanying style guides

Complex forecasting tools used to ensure forecast methodologies are consistently applied

Quality control checklists

B) Quality control process

Peer review

Senior level quality control

Randomized spot checks on data integrity

Benchmark checks across databases

Market data cross-checked for consistency with accumulated data from:
o WMI Construction Projects Database
o Company filings


EXECUTIVE SUMMARY

2 Executive Summary
The global construction industry grew at a CAGR of 5.62% over the review period. While the
industrial construction market was the fastest growing global market during the review period,
the residential and infrastructure construction markets led the industry in terms of size in 2009.
Indeed, the residential construction market demonstrated strong growth during 2005–08
because of the global economic boom in 2003–07. However, the subprime crisis that emerged in
late 2007 in the US led to a fall in both price and demand for residential properties in 2008. This
spread to other nations, leading to a global economic crisis towards the end of 2008; and has
adversely affected the construction industry. Most world governments introduced large stimulus
packages as countercyclical measures to revive economic growth. The stimulus packages
largely comprised of infrastructure projects, which helped governments to generate a greater
number of jobs quickly, and led to increased construction activity in the infrastructure and
institutional construction markets. The impact of global economic crisis was comparatively
lower in developing nations, the majority of which recorded growth in the commercial
construction market.

Office buildings construction was the largest category in the commercial construction market in 2009,
due to the growth of the global services sector and consequent expansion of multinational organizations
over the review period. Furthermore, as a result of rising income levels in developing nations, the
construction of retail buildings was the second largest category in the market. However, in several
developing nations, the supply of retail buildings was not sufficient to cater to demand, which attracted
large investments to the category. Moreover, increasing income levels across the globe led to an
increase in the global expenditure on tourism, which led to growth in the leisure and hospitality, and
outdoor leisure facilities categories. The global commercial construction market grew at a CAGR of
7.38% over the review period, and is expected to witness a CAGR of 6.42% over the forecast period.

The global residential construction market was the largest construction market in 2009, as the strong
growth recorded in the market until 2007 led to the assumption by investors that residential properties
were safe and attractive investments. Developing nations even witnessed a shortage in housing, due to
increasing populations and rising income levels. However, the residential construction market fell into
decline in 2007, as the demand for residential properties significantly decreased in developed nations
because of the economic crisis. Therefore, the residential construction market registered a CARC of -
4.83% over the review period, but is expected to record a CAGR of 7.95% over the forecast period.

The global industrial construction market was the fastest growing market over the review period. Rapid
urbanization, growing industrial sectors, the increasing population, and improving living standards
across the world drove the demand for electricity. As the global electricity generation capacity was
insufficient to cater to demand, global governments invested substantial sums into the construction of
electricity generation plants. Furthermore, the majority of nations have either partially or completely
privatized the electricity generation sector to attract private investment and improve the efficiency of the
sector. In addition, developing nations in Asia, Africa and Eastern Europe experienced significant growth
in the industrial sector because of the availability of low-cost skilled labor. As a result of these factors,
the industrial construction market witnessed a CAGR of 19.25% over the review period, and is expected
to witness a CAGR of 9.13% over the forecast period.


EXECUTIVE SUMMARY

The global infrastructure construction market was the second fastest growing market over the review
period. Several developed nations with greater resources to make improvements to national
infrastructure took part in large public private partnership (PPP) projects. Several sporting events, such
as the Olympic Games in China, the Commonwealth Games in India, and the European Championship
in Poland and the Ukraine, required the hosting nations to invest large amounts in infrastructure
development. Moreover, the importance of logistical support to the continuation of industrial growth in
developing nations required caused governments to introduce stimulus packages and increase
expenditure on the development and upgrade of transport infrastructure. Furthermore, with increasing
income levels, the majority of nations developed better communications infrastructure and improved the
national access to electricity, including to those in isolated areas, to raise living standards and support
economic growth. Finally, emerging global concerns about the scarcity of water also caused many
nations to increase expenditure on water infrastructure. The infrastructure construction market
witnessed a CAGR of 12.00% over the review period, and is expected to register a CAGR of 7.97% over
the forecast period.

The global institutional construction market was the smallest market over the review period. Educational
buildings and healthcare buildings were the two largest categories in the market, as the majority of
nations privatized the healthcare sector, which attracted large investments to the sector. Conversely,
global educational sectors largely remain in the control of the government, although several
governments now allow private investors to establish academic institutions. The institutional construction
market witnessed a CAGR of 8.19% over the review period, and is expected to witness a CAGR of
5.11% over the forecast period.


CONSTRUCTION INDUSTRY ANALYSIS

3 Construction Industry Analysis
3.1 Global Macroeconomic Scenario

During 2008–09, the global economy faced a financial crisis. The subprime crisis that emerged in the
US in late 2007 led to restrictions on credit and the loss of consumer and business confidence
worldwide. Most affected were developed nations, such as the US, the UK and Western European
nations, because of excess liquidity and a low interest rate and „easy credit‟ regime, which led to an
oversupply in several markets in developed nations. This led to the decline of several global markets,
the residential construction market in particular.

Since the mid 2000s, the economies of countries in the Gulf Co-operation Council (GCC) recorded
escalated growth as rising oil prices increased government revenues. However, as a result of
fluctuations in the price of oil, these nations sought to develop other industries and reduce dependence
on the oil sector. As a result, construction activity in major cities in the region, such as Dubai and Abu
Dhabi, increased at a fast rate. However, during the global economic crisis, several construction
companies either terminated or delayed construction projects due to lack of financing. However, the
wealth created by the increase in oil prices during 2003–08prevented several large bond issuers from
defaulting, which would otherwise have severely dented consumer confidence in the region.

Developing nations, particularly those in Asia and Eastern Europe, provided the main stimulus for
economic growth during the global economic crisis. These nations recorded strong population growth,
increasing the size of the global population under the age of 25. As a result of these large, young and,
often, skilled populations increased the productivity and economic output of developing nations, and
supported the global consumption of goods. Furthermore, the economic potential of these countries
attracted substantial public and private investment; and, as the cost of skilled labor was low compared to
that of developed nations, multinational organizations began to expand and invest into these nations.

Several developing nations received additional foreign direct investment (FDI) because of major sporting
events such as the Beijing Olympic Games 2009 and FIFA World Cup 2010. Hosting these events led to
growth in private investment and foreign tourism in these countries, and provided an opportunity to
present these countries to the rest of the world as attractive business destinations. Moreover, several
Eastern European countries due to join the EU recorded substantial economic growth because of the
availability of EU funds and increased FDI inflows from European multinational organizations. During the
forecast period, accession to the EU is likely to eliminate several trade barriers between these countries
and other EU nations, which will continue to make the Eastern European region an attractive business
destination for global manufacturing companies. Furthermore, rising inflation in emerging nations is
unlikely to be a significant factor during the forecast period, as although it has been a concern for central
banks, which are restricting liquidity to control inflation in 2010. the impact of this is expected to be low
on these economies.

The global economy declined by 2.2% in 2009, despite strong performances from emerging nations in
Asia and Eastern Europe. During the forecast period, the global economic recovery is likely to be led by
emerging nations, with developed nations following due to significant government stimulus packages,
and the development of new fiscal and monetary policies. The World Bank expects the global economy
to grow by 2.7% in 2010, followed by 3.3% in 2011. However, the outlook remains, uncertain as much of



the growth in the second half of 2009 and first half of 2010 was attributed to excess liquidity made
available by central banks, and tax benefits that boosted consumer spending. Furthermore, positive
earnings from the corporate world have been largely attributed to the low base effect and cost cutting,
rather than high sales.

The main concern for the governments of developed nations over the forecast period will be to reduce
the high levels of public debt accumulated from large stimulus packages awarded during the financial
crisis to try to reduce the negative effects of recession. Indeed, government revenues remained lower
because of lower income from both business and personal tax revenues, and the provision of
unemployment benefits to the large numbers of unemployed added to the debt. Moreover, analysts are
cautiously optimistic of the economic growth of developed nations, as macroeconomic data recorded
negative growth in July 2010 as the effects of stimulus packages and fiscal policies diminished. Several
Western European countries, such as Spain, Ireland and Greece, now face large sovereign debt issues,
which the respective governments are now attempting to tackle by making cuts to public spending.
While it is uncertain as to whether these measures will decrease consumer spending, increase
unemployment levels and reduce economic growth, the measures are required to avoid a sovereign
debt default, which would have a much larger impact on the global economy.

The global economy largely depends on the consumption levels of the US. Macroeconomic data has
projected an optimistic view of the economy from early 2010, because of the developments to US fiscal
policies and the stimulus spending of the US government. However, as unemployment rates in the US
remain high at 10% despite several measures by the government to increase employment, some
aspects of the global recovery remain uncertain.



3.2 Construction Industry Overview

The global construction industry, which employs more people than any other single industry in the world,
recorded strong growth over the review period. The most notable activity to take place over the review
period occurred within the global residential construction market. A combination of low interest rates and
access to credit led to a boom in the global residential construction market, particularly in developed
markets such as the US, until 2007. The increasing demand for housing then led to an increase in
speculative activity, which accelerated inflation in the price of housing. However, house prices peaked in
2007 and interest rates began to rise, leading to a lower demand for residential properties. Following
this, the subprime crisis caused house prices to fall drastically, and the demand for housing further
declined. As a result of low demand, several residential construction projects in developed nations were
either delayed or cancelled. However, the subprime crisis has a lesser effect on developing nations,
which continued to face housing shortages because of population growth and increasing income levels.
The global residential construction market is expected to recover in accordance with the global economy
over the forecast period.

In addition, the commercial construction market recorded significant activity over the review period, due
to the wealth created for both developed and developing nations by the economic boom during 2003–
07. Rising income levels increased the demand for retail buildings, which, in several developing nations,
could not be satisfied at the rate necessary. Therefore, private developers began to invest substantial
amounts of capital into the construction of large commercial centers. Increasing personal incomes also
led to higher discretionary spending in the global tourism sector. Countries with exotic tourist locations, a
rich cultural background or inexpensive medical facilities took advantage of this by developing the
infrastructure required to attract tourists. In particular, Thailand, India and Eastern European countries
became attractive destinations for medical tourism, as they were relatively less expensive and easily
accessible for foreign travellers. The economic boom also caused the services sectors in several
developing countries, such as India and the Philippines, to expand at a rapid rate, which also attracted
investment from private developed for the construction of office buildings. In particular, the demand for
office space in the GCC countries escalated during the review period, as the government encouraged
the development of non-oil related industries in order to diversify its economy. However, from 2008,
office space was in oversupply in some of the GCC countries, as the global economic crisis led to the
closure or consolidation of many large companies.

The global infrastructure construction market attracted significant public spending over the review
period, as the lack of quality infrastructure proved detrimental to the economic growth of developing
markets. To sustain industrial growth, developing nations invested in the construction of efficient
transport infrastructure, which supported freight and logistical operations, while increasing traffic
congestion in urban cities worldwide led governments to invest in mass transit projects, such as metro
railways. In particular, the GCC nations, which lacked efficient rail infrastructure, invested large sums in
the development of a rail network that not only connected national locations, but also across the region.
Sporting events such as the Beijing Olympics in 2008 and FIFA World Cup in 2010 also encouraged the
growth of the infrastructure construction market in hosting nations.

The industrial construction market recorded strong growth over the review period especially in
developing countries with low-cost skilled workers, such as China and India. To take advantage of this
fact, developing nations invested in the construction of industrial zones to attract foreign companies and
international recognition as industrial centers, Furthermore, competition between these nations



increased, and many implemented pro-business policies and tax incentives to attract foreign investment.
Moreover, while oil-rich nations, such as the GCC countries, registered strong growth in the refinery
buildings construction category, increases in the global consumption of electricity resulted in significant
investment in the construction of the electricity generation plants. The electricity generation plants
category also experienced rapid growth because of an increasing global awareness of the benefits of
renewable energy sources and nuclear energy, and efforts to decrease global reliance on fossil fuels. As
the demand for electricity has not yet been met in many locations around the world, particularly in rural
areas, the electricity generation plants category is expected to continue to record rapid growth
throughout the forecast period.

Global government spending on education and healthcare increased over the review period because of
demographic and economic growth. While the aging populations of developed nations required
improved and easily accessible healthcare services, developing nations invested in healthcare services
in order to reduce mortality rates and increase life expectancy, especially in rural areas. In addition,
education provision became imperative in developed nations over the review period because of its
positive impact on long-term economic growth, especially in the services sector. Several international
organizations awarded funding to the healthcare and educational sectors of underdeveloped and
developing nations, which, in turn, supported the growth of the construction industry in these categories.
Furthermore, with continued government spending and international aid, the institutional construction
market is expected to grow at a stable rate over the forecast period.

The global construction industry grew at a CAGR of 5.62% over the review period, and is expected to
witness a CAGR of 7.75% over the forecast period due to the recovery of world economies from the
global economic crisis.



3.2.1 Industry Dynamics

Within the global construction industry, residential construction was the largest market over the review
period, with a share of 29.6% in 2009. The industrial construction market witnessed the fastest CAGR of
19.25% over the review period, and is also expected to record the fastest CAGR of 9.13% in the
forecast period.

Figure 1: Global Overall Construction Industry Dynamics by Market (%), 2005–14

Note: Bubble size represents 2009 market value (US$ trillion)
Source: World Market Intelligence analysis / © World Market Intelligence


CONSTRUCTION INDUSTRY DATA

4 Construction Industry Data
4.1 Historic Industry Value

In 2009, the global construction industry valued US$3.9 trillion, which indicated a decline of 2.3% over
figures from 2008. Over the review period, the industry experienced a CAGR of 5.62%.

Table 2: Global Construction Industry Value (US$ Trillion), 2005–09
Year US$ Trillion % Growth
2005 3.2
2006 3.5 12.3%
2007 3.9 9.2%
2008 4.0 3.8%
2009 3.9 -2.3%
CAGR 2005–09 5.62%
Source: World Market Intelligence analysis /© World Market Intelligence

Figure 2: Global Construction Industry Value (US$ Trillion), 2005–09

Source: World Market Intelligence Analysis /© World Market Intelligence



4.2 Historic Industry Segmentation

With a value of US$1.2 trillion and a market share of 29.6%, residential construction was the largest
market in the global construction industry in 2009. Infrastructure construction held the second largest
share, and accounted for a value of US$1.0 trillion. Industrial construction accounted for a value of
US$0.8 trillion, and was the third largest construction market.

Over the review period, industrial construction was the fastest growing market in the global construction
industry, with a CAGR of 19.25%. This was followed by infrastructure construction, with a CAGR of
12.00%, and institutional construction, with a CAGR of 8.19%.

Table 3: Global Construction Industry Segmentation by Market (US$ Trillion), 2005–09
CAGR
Market 2005 2006 2007 2008 2009
2005–09
Residential construction 1.4 1.5 1.5 1.3 1.2 -4.83%
Infrastructure construction 0.6 0.8 0.9 1.0 1.0 12.00%
Industrial construction 0.4 0.5 0.6 0.8 0.8 19.25%
Commercial construction 0.4 0.5 0.6 0.6 0.5 7.38%
Institutional construction 0.3 0.3 0.3 0.4 0.4 8.19%
Overall 3.2 3.5 3.9 4.0 3.9 5.62%

Figure 3: Global Construction Industry Segmentation by Market (%), 2005–09




4.3 Industry Value Forecast

WMI expects the global construction industry to record a CAGR of 7.75% over the review period,
increasing in value from US$3.9 trillion in 2009 to US$5.7 trillion in 2014.

Table 4: Global Construction Industry Value Forecast (US$ Trillion), 2009–14
Year US$ Trillion % Growth
2009 3.9
2010 4.1 5.2%
2011 4.5 10.1%
2012 4.9 7.3%
2013 5.3 8.0%
2014 5.7 8.3%
CAGR 2009–14 7.75%

Figure 4: Global Construction Industry Value Forecast (US$ Trillion), 2009–14




4.4 Industry Segmentation Forecast

With a predicted CAGR of 7.95% and market value of US$1.7 trillion, residential construction is forecast
to remain as the largest market in 2014. WMI also expects the residential construction market to increase
its market share from 29.6% in 2009 to 29.9% in 2014. Infrastructure construction is expected to be the
second largest market in the industry, with a share of 26.1%.

Table 5: Global Construction Industry Segmentation Forecast by Market (US$ Trillion), 2009–14
CAGR
Market 2009 2010 2011 2012 2013 2014
2009–14
Residential construction 1.2 1.2 1.4 1.5 1.6 1.7 7.95%
Infrastructure construction 1.0 1.1 1.2 1.3 1.4 1.5 7.97%
Industrial construction 0.8 0.9 1.0 1.1 1.2 1.3 9.13%
Commercial construction 0.5 0.5 0.6 0.6 0.7 0.7 6.42%
Institutional construction 0.4 0.4 0.4 0.4 0.5 0.5 5.11%
Overall 3.9 4.1 4.5 4.9 5.3 5.7 7.75%

Figure 5: Global Construction Industry Segmentation Forecast by Market (%), 2009–14



APPENDIX

5 About World Market Intelligence
World Market Intelligence (WMI) is a premium information and marketing solution company focused on
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WMI publishes in-depth strategic intelligence reports across many key industries. Its reports draw on in-
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For more information on WMI‟s construction research reports, please visit
www.worldmarketintelligence.com

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For WMI‟s construction media and marketing sites, please visit
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WMI‟s corporate headquarters are in London, UK, with offices in Manchester, UK, and Hyderabad, India.
It has over 100 staff dedicated to its construction business unit. It is a part of Progressive Media Group,
one of the world‟s leading media, information and communication groups.

For further information, email info@worldmarketintelligence.com


APPENDIX

5.1 Disclaimer

All rights of this report are reserved

No part of this report may, in any form or by any means, be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise,
without the prior permission of the publisher, WMI.

The facts of this report are believed to be correct at the time of publication but cannot be guaranteed.
Please note that the findings, conclusions and recommendations that WMI delivers will be based on
information gathered in good faith from both primary and secondary sources, whose accuracy we are not
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