The manufacturing & construction market is a subclass that puts together diverse activities connected with good production and basic structure. More activities include construction, manufacturing, heavy machinery, materials processing, and engineering services. The manufacturing & construction market globally has seen exceedingly robust growth at the hands of urbanization, technological development, and steadily increasing demand for durable goods and infrastructure projects.
Manufacturing and construction are enormous parts of the world economy. Projections indicate that the construction market will grow from USD 12.5 trillion in 2023 to USD 17.1 trillion by 2030. The manufacturing piece is expected to go beyond USD 15 trillion by 2027 and will greatly benefit from industrialization, consumer wishes for new products, and meaningful new technological advents—the likes of automation and AI.
The manufacturing & construction market is a subclass that puts together diverse activities connected with good production and basic structure. More activities include construction, manufacturing, heavy machinery, materials processing, and engineering services. The manufacturing & construction market globally has seen exceedingly robust growth at the hands of urbanization, technological development, and steadily increasing demand for durable goods and infrastructure projects.
Manufacturing and construction are enormous parts of the world economy. Projections indicate that the construction market will grow from USD 12.5 trillion in 2023 to USD 17.1 trillion by 2030. The manufacturing piece is expected to go beyond USD 15 trillion by 2027 and will greatly benefit from industrialization, consumer wishes for new products, and meaningful new technological advents—the likes of automation and AI.
The manufacturing and construction industry encompasses sectors that produce various goods or construct buildings, infrastructures, and industrial facilities. Manufacturing is any activity concerned with converting raw materials into tangible products using different processes, tools, and equipment. Construction involves making creations, including residential buildings, commercial buildings, and public infrastructure projects.
Manufacturing Types:
Discrete Manufacturing: The production of distinguishable items by means of automobiles and electronics.
Process Manufacturing: Industries producing enormous amounts of bulk goods, the most common examples being chemicals, food, and beverages.
Additive Manufacturing (3D Printing): This rapidly expanding trend involves building products layer by layer from digital files.
Construction Types:
Residential Construction: This type of construction covers homes, apartments, and residential buildings.
Commercial Construction: Includes office buildings, retail centers, and public facilities.
Industrial Construction: It deals with factories, warehouses, and process plants.
Infrastructure Construction: Roads, bridges, power plants, and other public infrastructure projects.
1. Urbanization: Rapid urbanization in most emerging markets has heightened the demand for residential and commercial construction projects.
2. Technological Advancements: The digital adoption of construction and manufacturing operations through automation, robots, and AI is boosting productivity and quality.
3. Labor shortage: Many nations face a skilled labor shortage that has caused the rapid adoption of automation and AI to bridge gaps in manpower.
4. Disruption to the establishment of supply chains: The pandemic and geopolitical issues have disrupted established global supply chains, affecting raw material and equipment availability for manufacturing and construction projects.
5. Sustainability & Green Technologies: Increasingly towards sustainable construction practices are consumer-based demand and regulatory requirements.
Automation & Robotics: Automation is taking center stage in both manufacturing and construction. Robots, AI, and IoT contribute significantly to reduced labor costs, accuracy, and efficiency.
Sustainably: Green construction, energy-performance buildings, and sustainable manufacturing practices are in fashion. LEED certification and eco-friendly materials—certified buildings and materials are in high demand.
3D Printing: In construction, 3D printing allows for the building and construction of buildings and components, facilitating faster construction and cost savings.
Digital Twins: Digital twins are being extensively developed to create virtual replicas of physical buildings and manufacturing facilities as a means to optimize operations, designs, and the prediction of maintenance.
Modular Construction: Prefabricated construction materials and modules are becoming popular, reducing construction time and costs.
1. By Product:
Building Materials
Heavy Machinery
Automotive
Consumer Electronics
Industrial Equipment
2. By End-Use Industry:
Residential Construction
Commercial Construction
Industrial Construction
Automotive Manufacturing
Aerospace & Defense
3. By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Construction Industry Leaders:
China State Construction Engineering Corporation
Bechtel Corporation
Vinci SA
Larsen & Toubro
Manufacturing Industry Leaders:
General Electric
Siemens AG
Caterpillar Inc.
Toyota Motor Corporation
Samsung Electronics