After taking a severe hit following the economic slowdown around the turn of the decade, the construction sector finally seems to be getting back up on its feet. The momentum of the construction industry is on the path of a slow but steady recovery. Significantly dependent on demographics and the health of the economy, the profitability of construction companies relies on specializing in particular services or regions.
The construction market is estimated to register a single-digit growth rate over the next couple of years, driven by rising investments in infrastructural projects, government initiatives in several countries, influx of the population across the world from rural to urban areas for improved employment opportunities, and increasing demand for construction equipment. The rapid growth of the IT and services sector as well as research and development avenues has resulted in the surging demand for massive buildings, road and rail networks, and other infrastructure. This in turn propels the construction sector.
Some of the key players competing in the construction market are Hochtief (Germany), Lend Lease (UK), Bilfinger SE (Germany), Amec Foster Wheeler plc (UK), Vinci S.A. (France), Technip-Coflexip (France), Skanska AB (Sweden), Bouygues S.A. (France), KBR, Inc. (USA), and Strabag SE (Austria).
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