Impact of COVID-19 on Construction Industry Market Analysis and Forecast to 2031: By Type (Residential, Non-Residential, and Heavy & Civil Engineering) and Region.
The novel coronavirus (COVID-19) pandemic has had a significant impact on the construction industry. The most immediate effect has been the shutdown of construction activity in many jurisdictions around the world in an effort to contain the spread of the virus. This has led to a sharp decline in construction output and a rise in project cancellations and delays.
The pandemic is also having a major impact on the global economy, which is likely to lead to a further slowdown in construction activity. With businesses and households cutting back on spending, there is likely to be a reduction in demand for new construction projects. This could lead to a decline in investment in the construction sector and a rise in unemployment.
Key Trends
The COVID-19 pandemic has had a significant impact on the construction industry. The most immediate effect has been the slowdown of construction activity due to the lockdown measures implemented by governments around the world. This has led to a decrease in demand for construction materials and products, and a corresponding decrease in prices.
The decrease in activity has also had a negative impact on the employment levels in the construction industry, with an estimated 9.5 million construction workers globally expected to lose their jobs in 2020.
The pandemic has also accelerated the adoption of digital technologies in the construction industry.
Key Drivers
The outbreak of COVID-19 has had a profound impact on the construction industry. The most immediate and visible impact has been the slowdown of construction activity in many parts of the world as a result of the pandemic. The construction industry is highly dependent on a large and mobile workforce, and the outbreak of COVID-19 has led to a significant disruption in the supply of labor. In addition, the pandemic has had a significant impact on the demand for construction, as the economic slowdown has led to a decrease in demand for new construction projects. The combination of these factors has led to a sharp decrease in construction activity in many parts of the world.
The impact of COVID-19 on the construction industry is expected to be long-lasting. The slowdown in construction activity will lead to a decrease in demand for construction materials and equipment, which will have a ripple effect throughout the construction supply chain. In addition, the economic slowdown is expected to lead to a decrease in investment in new construction projects, which will further reduce demand for construction services. The long-term impact of COVID-19 on the construction industry is expected to be significant, and the industry is expected to take several years to recover from the pandemic.
Restraints & Challenges
The COVID-19 pandemic has had a significant impact on the construction industry. The industry was already facing a number of challenges prior to the pandemic, including a shortage of skilled labor, rising material costs, and increasing regulation. The pandemic has exacerbated these challenges and created new ones, such as a decrease in demand for construction services and a decrease in the availability of construction materials.
The decrease in demand for construction services is due to the decrease in economic activity that has occurred as a result of the pandemic. Many businesses have closed or reduced their operations, which has led to a decrease in demand for new construction and renovation projects. The decrease in the availability of construction materials is due to the fact that many suppliers have been forced to close their operations or reduce their production levels. This has led to a decrease in the availability of construction materials and an increase in prices.
Market Segments:
The impact of COVID-19 on construction industry market is segmented by type and region. By type, it is divided into residential, non-residential, heavy & civil engineering. By region, the market is segmented into North America, Europe, Asia- Pacific and Rest of the World.
Key Market Players:
The impact of COVID-19 on construction industry market includes players such as Automated Construction Technology, Bechtel Group, Balfour Beatty , Group ACS, China State Construction Engineering Corporation Limited, L&T Construction, PCL Construction Enterprises, Skanska Construction, VINCI, TechnipFMC and Bouygues.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Impact of COVID-19 on Construction Industry Market Outlook
3.1. Impact of COVID-19 on Construction Industry Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Global Pressure Sensor Market
Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Global Pressure Sensor Market
4.3. Economic Impact Analysis
Chapter 5. Impact of COVID-19 on Construction Industry Market by Type
5.1. Market Overview
5.2. Residential
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Non-Residential
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Heavy & Civil Engineering
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 6. Impact of COVID-19 on Construction Industry Market, by Region
6.1. Overview
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. North America Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.2.3. North America Impact of COVID-19 on Construction Industry Market Size and Forecast by Country, 2021-2031, ($Million)
6.2.4. The U.S.
6.2.4.1. The U.S. Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.2.5. Canada
6.2.5.1. Canada Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.2.6. Mexico
6.2.6.1. Mexico Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Europe Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.3. Europe Impact of COVID-19 on Construction Industry Market Size and Forecast by Country, 2021-2031, ($Million)
6.3.4. Germany
6.3.4.1. Germany Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.5. France
6.3.5.1. France Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.6. U.K.
6.3.6.1. U.K. Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.7. Spain
6.3.7.1. Spain Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.8. Italy
6.3.8.1. Italy Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.3.9. Rest of Europe
6.3.9.1. Rest of Europe Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Asia-Pacific Impact of COVID-19 on Construction Industry Market Size and Forecast by Country, 2021-2031, ($Million)
6.4.3. Asia-Pacific Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4.4. China
6.4.4.1. China Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4.5. India
6.4.5.1. India Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4.6. Japan
6.4.6.1. Japan Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4.7. South Korea
6.4.7.1. South Korea Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.4.8. Rest of APAC
6.4.8.1. Rest of APAC Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.5. Rest of the World
6.5.1. Key Market Trends and Opportunities
6.5.2. Rest of the World Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.5.3. Rest of the World Impact of COVID-19 on Construction Industry Market Size and Forecast by Country, 2021-2031, ($Million)
6.5.4. Latin America
6.5.4.1. Latin America Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.5.5. Middle East
6.5.5.1. Middle East Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
6.5.6. Africa
6.5.6.1. Africa Impact of COVID-19 on Construction Industry Market Size and Forecast by Type, 2021-2031, ($Million)
Chapter 7. Competitive Landscape
7.1. Market Overview
7.2. Market Share Analysis/Key Player Positioning
7.3. Developmental Strategy Benchmarking
7.3.1. New Product Development
7.3.2. Product Launches
7.3.3. Business Expansions
7.3.4. Partnerships, Joint Ventures, and Collaborations
7.3.5. Mergers and Acquisitions
Chapter 8. Company Profiles
8.1. Bechtel Group
8.1.1. Company Snapshot
8.1.2. Financial Performance
8.1.3. Product Offerings
8.1.4. Key Strategic Initiatives
8.1.5. SWOT Analysis
8.2. Balfour Beatty
8.2.1. Company Snapshot
8.2.2. Financial Performance
8.2.3. Product offerings
8.2.4. Key Strategic Initiatives
8.2.5. SWOT Analysis
8.3. Group ACS
8.3.1. Company Snapshot
8.3.2. Financial Performance
8.3.3. Product offerings
8.3.4. Key Strategic Initiatives
8.3.5. SWOT Analysis
8.4. China State Construction Engineering Corporation Limited
8.4.1. Company Snapshot
8.4.2. Financial Performance
8.4.3. Product offerings
8.4.4. Key Strategic Initiatives
8.4.5. SWOT Analysis
8.5. L&T Construction
8.5.1. Company Snapshot
8.5.2. Financial Performance
8.5.3. Product offerings
8.5.4. Key Strategic Initiatives
8.5.5. SWOT Analysis
8.6. PCL Construction Enterprises
8.6.1. Company Snapshot
8.6.2. Financial Performance
8.6.3. Product offerings
8.6.4. Key Strategic Initiatives
8.6.5. SWOT Analysis
8.7. Skanska Construction
8.7.1. Company Snapshot
8.7.2. Financial Performance
8.7.3. Product offerings
8.7.4. Key Strategic Initiatives
8.7.5. SWOT Analysis
8.8. VINCI
8.8.1. Company Snapshot
8.8.2. Financial Performance
8.8.3. Product offerings
8.8.4. Key Strategic Initiatives
8.8.5. SWOT Analysis
8.9. TechnipFMC
8.9.1. Company Snapshot
8.9.2. Financial Performance
8.9.3. Product offerings
8.9.4. Key Strategic Initiatives
8.9.5. SWOT Analysis
8.10. Bouygues
8.10.1. Company Snapshot
8.10.2. Financial Performance
8.10.3. Product offerings
8.10.4. Key Strategic Initiatives
8.10.5. SWOT Analysis
*The list of company is subject to change during the final compilation of the report
Key Market Players:
- Bechtel Group
- Balfour Beatty
- Group ACS
- China State Construction Engineering Corporation Limited
- L&T Construction
- PCL Construction Enterprises
- Skanska Construction
- VINCI
- TechnipFMC
- Bouygues
Market Segments:
By Type:
- Residential
- Non-Residential
- Heavy & Civil Engineering
By Region:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East
- Africa