Building and Construction

Impact of COVID-19 on Global Construction Industry Research and Forecast 2019-2025

April 09, 2020 by OMRGlobal

The global construction industry includes preparation of construction land, alteration, and repairing of residential, commercial and industrial as well as civil engineering works. Factors that were driving the construction industry before pandemic COVID-19 include continuous growth in the economy of the emerging countries, rising investors’ confidence in the infrastructure sector and significant investment by the government in transport, energy and housing projects. Besides, the rising disposable income of the people was also augmenting the demand for well-constructed residential buildings in the emerging economies. 

A full report of Impact of COVID-19 on Global Construction Industry is available at:  https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-global-construction-industry

However, after the COVID-19 pandemic, one of the most affected sectors all across the globe is building & construction. Multiple countries have been lockdown and most of the construction activities have been halted until the eradication of the virus. Due to this, millions of temporary workers have lost their jobs in the construction industry. Besides, the effect of COVID-19 will be witnessed in the long term in the construction industry. Due to coronavirus, governments all across the globe are providing billions as relief packages, which results in increasing the debt of the respective countries. In the future, those countries can compromise with their infrastructure development projects by allocating fewer funds to balance their debt. 

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The global construction industry report is segmented based on residential building, commercial buildings, industrial, heavy and civil engineering construction, and others. Among all this, heavy and civil engineering construction can be affected significantly in the near future as a large share of these segment comprises of government funding.  With the economic slowdown, and downfall in tax collection; the fund allocated for public infrastructure can be reduced by the government. Commercial and industrial segments are also expected to get affected as a considerable economic loss will be observed by most of the companies, which will reflect in their expansion projects. 

The effect of COVID-19 on the construction industry can be observed in all the regions including North America, Europe, Asia-Pacific, and Rest of the World. Europe and North America are the most affected regions due to the COVID-19 pandemic. Around 370,000 confirmed cases in the US and around 640,000 cases in Europe have been registered by the first week of April 2020. Key companies of the construction industry that are getting affected globally include China Communications Construction Co., Ltd., Shanghai Construction Corp., PowerChina Construction Group Co Ltd., Larsen & Toubro Ltd., VINCI SA, STRABAG SE, Bechtel Corp., Skanska AB and so on. Due to COVID-19 pandemic companies have to halt their undergoing projects due to lack of workers at construction sites. No significant hurdle in the supply chain of raw material has been witnessed all across the globe till now however if the pandemic remains during for next couple of months, some raw material such as cement, steel importing countries can face the supply chain issue. 

Verticals Affected Most
  • Residential Building
  • Commercial Buildings
  • Industrial
  • Heavy and Civil Engineering Construction
  • Other (Site preparation)

Impact of COVID-19 on Global Construction Industry– Segment by Region

North America          
  • United States
  • Canada
Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe
Asia-Pacific   
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
Rest of the World

Company Profiles
  • Company Profiles
  • ACS (Actividades de Construcción y Servicios) S.A
  • Bechtel Corp.
  • Bouygues S.A.
  • China Communications Construction Co., Ltd.
  • Hochtief AG
  • Larsen & Toubro Ltd.
  • Obayashi Corp.
  • PowerChina Construction Group Co Ltd.
  • Shanghai Construction Corp.
  • Skanska AB
  • STRABAG SE
  • TechnipFMC PLC
  • The China State Construction Engineering Corp.
  • VINCI SA

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