The study looks at forecasts for the construction and engineering industries covering 48 countries, which represents almost 90% of world output.
ICE President Sir John Armitt wrote in the report's foreword:
'Our role in developing sustainable infrastructure is vital to the future competitiveness of every nation. This report will enable us to take big decisions, develop more cross sector partnerships and turn powerful insights into action.'
Some of the important and surprising findings include:
- The global construction and engineering market will grow by 85% to $17.5 trillion and will account for 14.7% of GDP by 2030
- China, the US and India will account for 57% of all global growth in the construction and engineering industry to 2030
- Huge levels of investment expected from China in over 60 countries will be a global 'game-changer' as China builds a new modern-day Silk Road to connect with two-thirds of the world's population
- The UK will become the sixth largest construction market globally by 2030 and will become Europe's largest construction market
This report provides ICE members with a powerful evidence base of the trends that are shaping the world. We can collectively play a big part in delivering innovative solutions that will create a step change to transform our industry.
The, Shaping the World programme our industry exchange agreement with the China International Contractors Association (CHINCA) and ICE Hong Kong's Low Carbon 2030 report will all help to tackle future challenges facing the global construction market.
Find out more about the Global Construction 2030 report.