Singapore Telecom Operators Country Intelligence Report
Description
Construction Market Size, Trends and Growth Forecasts by Regions and Countries, 2025-2029 (Q3 2025)
Summary
This report provides a detailed analysis of the prospects for the global construction industry up to 2029.
As we enter Q4 2025, the global construction industry finds itself navigating through an increasingly challenging environment. Following years of strong recovery and expansion, propped up by post-pandemic stimulus packages and infrastructure investment, growth is now beginning to slow down, and volatility is increasing. Geopolitical tensions around the world continue to rise while Donald Trump’s omnidirectional tariff policies create further uncertainty for investors and contractors, elevating material costs and lowering project viability. After initially absorbing tariff impacts, as well as frontloading imports to escape disruption, contractors are now operating with caution, passing price rises onto consumers and freezing labor market decisions. In general, private sector construction activity has weakened across most regions over the last six months, primarily due to elevated interest rates causing tighter credit availability and low business sentiment. Residential and commercial development have been hardest hit, impacted by low demand and changing trends.
Three regions are forecasted to experience negative output in 2025, with North America expected to face the biggest contraction, declining by 2.2%. Western Europe and Latin America are also expected to decline in 2025, both falling by 0.1%. Despite independent factors causing regression in each market, one common theme is prevalent across all three locations, rising cost of production due to elevated material prices, shortage of labor and restrictive financing. At the other end of the spectrum, South Asia and Southeast Asia are the two regions forecasted to exhibit the highest level of growth in 2025, increasing 6.3% and 5.3%, respectively. Even with significant growth this year, both regions will grow at a slower rate than in 2024, when South Asia increased by 7.9%, while output in Southeast Asia increased by 7.5%. The only region to exhibit a higher growth rate in 2025, compared with 2024, is the Middle East and North Africa, which will build on 2.8% growth in 2024, with a further 4.8% growth in 2025.
Emerging markets are expected to significantly outpace advanced economies in 2025, growing by 2.3%, this marks a significant slowdown compared to 4.4% growth in 2024. In comparison, following the downgrade to the US market and weak demand in Europe, advanced economies are forecasted to contract by 1.8% growth in 2025. Even though emerging markets are expected to grow faster, given their smaller size and higher potential, these figures represent a convergence between the different types of economies.
In 2025, GlobalData expects the residential construction sector to decline by 1.60%, marking its fourth consecutive year of decline. This is the only sector to face decline in 2025, following a return to growth for commercial construction, which is estimated to grow by a muted 0.87% in 2025, following a 1.2% decline in 2024. One sector that is expected to experience a slower rate of growth in 2025 is the energy and utilities sector.
Scope
Summary
This report provides a detailed analysis of the prospects for the global construction industry up to 2029.
As we enter Q4 2025, the global construction industry finds itself navigating through an increasingly challenging environment. Following years of strong recovery and expansion, propped up by post-pandemic stimulus packages and infrastructure investment, growth is now beginning to slow down, and volatility is increasing. Geopolitical tensions around the world continue to rise while Donald Trump’s omnidirectional tariff policies create further uncertainty for investors and contractors, elevating material costs and lowering project viability. After initially absorbing tariff impacts, as well as frontloading imports to escape disruption, contractors are now operating with caution, passing price rises onto consumers and freezing labor market decisions. In general, private sector construction activity has weakened across most regions over the last six months, primarily due to elevated interest rates causing tighter credit availability and low business sentiment. Residential and commercial development have been hardest hit, impacted by low demand and changing trends.
Three regions are forecasted to experience negative output in 2025, with North America expected to face the biggest contraction, declining by 2.2%. Western Europe and Latin America are also expected to decline in 2025, both falling by 0.1%. Despite independent factors causing regression in each market, one common theme is prevalent across all three locations, rising cost of production due to elevated material prices, shortage of labor and restrictive financing. At the other end of the spectrum, South Asia and Southeast Asia are the two regions forecasted to exhibit the highest level of growth in 2025, increasing 6.3% and 5.3%, respectively. Even with significant growth this year, both regions will grow at a slower rate than in 2024, when South Asia increased by 7.9%, while output in Southeast Asia increased by 7.5%. The only region to exhibit a higher growth rate in 2025, compared with 2024, is the Middle East and North Africa, which will build on 2.8% growth in 2024, with a further 4.8% growth in 2025.
Emerging markets are expected to significantly outpace advanced economies in 2025, growing by 2.3%, this marks a significant slowdown compared to 4.4% growth in 2024. In comparison, following the downgrade to the US market and weak demand in Europe, advanced economies are forecasted to contract by 1.8% growth in 2025. Even though emerging markets are expected to grow faster, given their smaller size and higher potential, these figures represent a convergence between the different types of economies.
In 2025, GlobalData expects the residential construction sector to decline by 1.60%, marking its fourth consecutive year of decline. This is the only sector to face decline in 2025, following a return to growth for commercial construction, which is estimated to grow by a muted 0.87% in 2025, following a 1.2% decline in 2024. One sector that is expected to experience a slower rate of growth in 2025 is the energy and utilities sector.
Scope
- An overview of the outlook for the global construction industry to 2029.
- Analysis of the outlook for the construction industry in major global regions: North America, Latin America, Western Europe, Eastern Europe, South Asia, South-East Asia, North-East Asia, Australasia, the Middle East and North Africa, and Sub-Saharan Africa.
- A comprehensive benchmarking of 91 leading construction markets according to construction market value and growth
- Analysis of the latest data on construction output trends in key markets.
- Evaluate regional construction trends from insight on output values and forecast data to 2029. Identify the fastest growers to enable assessment and targeting of commercial opportunities in the markets best suited to strategic focus.
- Identify the drivers in the global construction market and consider growth in emerging and developed economies. Formulate plans on where and how to engage with the market while minimizing any negative impact on revenues.
Table of Contents
43 Pages
- 1. Market highlights
- 2. Operating Environment
- 3. Telecom services market outlook
- 4. Mobile services market
- 5. Fixed services market
- 7. Pay-TV services market
- 7. Competitive landscape and company snapshots
- 8. Appendix
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