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The global construction industry reached an annual expenditure volume of US$12 trillion before the coronavirus (COVID-19) pandemic and was projected to grow by three percent. Given the immense economic and social shock of COVID-19, this market may experience a temporary slowdown. The market size in this sector is expected to more than double in just two decades, reaching over US$19 trillion by 2035. Future projects in the construction industry include real estate projects—both residential and commercial—as well as infrastructure and industrial structures that will transform the way people live. Continued growth is also forecast for the global construction equipment market, with its market size expected to increase by 25 percent in just five years.
Between 2014 and 2020, a total of 556 projects were submitted to the European Commission, receiving funding of €50 million or more, with Poland being the country with the most applications. Most of these projects concerned network infrastructure in the transport and energy sectors.
According to its 2017 revenue figures, the French company Vinci SA was the largest construction company, with a turnover of €40.25 billion. The construction firm was also the largest in terms of market capitalization, earning almost three times as much as the second-placed company. Over the past nine years, Vinci's revenue has increased by €10 billion, despite a dip in 2014.
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Construction costs varied between European cities, with Zurich being the most expensive. Five of the top ten most expensive regions were in the United Kingdom. By comparison, a square meter of interior space for a high-rise apartment in Istanbul cost an average of 3,120 Turkish lira.
The German construction machinery industry is a sub-sector of mechanical engineering and encompasses mining, construction, and building materials machinery. These machines are powered by combustion or electric motors and used for construction tasks, the transport of construction materials, and the processing and handling of building materials. They are used in both the general construction and finishing trades. The range of construction machinery extends from excavators and transport equipment to stationary equipment such as tower cranes and construction hoists.
Structure of the construction machinery industry
In 2020, the construction machinery industry in Germany generated approximately €12.2 billion in revenue. This represented about 5.6 percent of the revenue of the German mechanical engineering sector (mining, construction, and building materials machinery). The majority of this revenue was generated abroad: approximately €9.1 billion was earned internationally in 2020. Domestic revenue for the construction machinery industry in the same year amounted to about €3.1 billion.
In 2020, 132 companies in the construction machinery industry were counted in Germany. A total of 40,000 people were employed in the sector.
The global players in the industry
The world's largest construction equipment manufacturer by far is the US company Caterpillar. In second place is the Japanese company Komatsu. A German company is also listed in the ranking of the industry's largest manufacturers: With sales of around US$7.8 billion in 2021, Liebherr is also among the global players in the sector.
Construction industry sector in Germany – All data, figures and charts
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