Construction in emerging nations is set to increase over the next twelve months while developed markets can expect slower growth or in some cases a decline in activity. India and China can expect to see double digit growth in the construction industry in 2010.
The findings, from a survey conducted by World Market Intelligence, were published in the Construction Industry Outlook: Q1 2010 report. Over 780 senior industry members took part in the survey, including buyers, contractors, sub contractors, designers and architects.
Sixty percent of respondents expected positive growth in India and China. Twelve percent expected very strong growth in India, while nine percent thought the same for China.
Five percent of respondents expected very strong growth in the Singapore, Taiwan and Hong Kong region.
These results were in contrast to what respondents expected for developed economies. Seventeen percent of respondents expected the construction markets of Japan and the USA to experience no growth, while twenty-three percent expected the same of the UK.
Two percent of those surveyed expected the UK to suffer a very strong decline in 2012, equal to that of Eastern Europe and Canada.
The report aimed to indentify key global trends affecting the construction industry. It covered category-level spending outlooks, supplier selection criteria and procurement budget expectations of decision makers. The report also examined buyers’ and suppliers’ growth, mergers and acquisitions and investment expectations.
