Construction BUSINESS

Global Infrastructure Investment to Grow by 4.8% to 2023

 Breaking News
  • Cork Businesses Call For Delivery on the Capital Plan as Set Out in Ireland 2040 Businesses in Cork have voiced their concerns over the slow pace of progress with significant capital projects and are calling for accelerated delivery of the National Development Plan, to support balanced growth and job creation across the entire country. Ibec Cork Regional President Sean Moran said: “Business is concerned that progress is slipping in the delivery [...]...
  • Solid Rise in Construction Activity, But New Order Growth Slows to Four-and-a-half Year Low The Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a seasonally adjusted index designed to track changes in total construction activity – rose to 53.7 in August from 51.4 in July. This marked the first pick-up in the rate of growth in four months, with construction activity increasing at a solid pace midway through the third quarter. Commenting on [...]...
  • Sisk Becomes First in Europe to Introduce Lifting Robotics to Site Leading construction company John Sisk & Son has become the first contractor in Europe to introduce robotics to construction projects, investing €150,000 as part of its commitment to enhance productivity on its sites and minimise health and safety risks to its workforce. The innovative robotic tool known as a Material Unit Lift Enhancer (MULE) was [...]...
  • Local Government Procurement Opportunities is Focus of Free Supplier Engagement Event Fingal County Council is one of eight local authorities from Greater Dublin and surrounding areas supporting a Supplier Engagement event focusing on local government procurement opportunities. InterTradeIreland, together with the Local Government Management Agency (LGMA) are hosting the free half-day event at the CityWest Hotel on October 1. Local government in Ireland manage contracts which support and [...]...
  • Permanent Met Lidars at Irish Wind Farms ZX Lidars has delivered ZX 300’s to Statkraft Ireland for the purpose of assisting with operational wind farm monitoring including power performance tests through to the provision of wind measurements for production forecasting/reporting. The use of wind Lidars in this capacity reduces the working at height and planning requirements associated with traditional met masts. In addition, [...]...

Global Infrastructure Investment to Grow by 4.8% to 2023

Global Infrastructure Investment to Grow by 4.8% to 2023
September 10
09:28 2019

Global infrastructure construction is forecast to grow by 4.8% on an annual average basis in real terms between 2019 and 2023. This will be propelled by Asia, where growth is expected to average 7.0% a year in South and South East Asia, as well as 5.8% in North East Asia, according to GlobalData, a leading data and analytics company.

GlobalData is currently tracking over 14,000 large-scale infrastructure projects in both the public and private sectors that are worth a minimum value of US$25 million (totalling US$14.8 trillion) worldwide at all stages from announcement to execution.

The power sector has the most projects in the pipeline with 5,681, followed by the road sector with 4,004, and railways with 1,945. Rail projects dominate valuing US$5.4 trillion, followed by power, accounting for the second-largest sector valued at US$4.7 trillion, and roads at US$2.6 trillion.

When completed, the tracked road projects will comprise a total 186,993 km under construction (or expansion/renewal) in the next five years. The most notable road expansion in terms of total length is taking place in South and South East Asia, with a total of 59,835 km of ongoing and upcoming road projects spread across the region. A total of 160,198 km of railway track and 1,271.6 GW of generating capacity will be undertaken and completed in the next five years.

Yasmine Ghozzi, Economist at GlobalData, comments: “In Sub-Sahara Africa and the Middle East and Africa (MEA), where infrastructure construction growth is expected to average 7.3% and 6.6%, respectively, there are huge infrastructure upgrades underway in roads, railways and power generation.

“The pace of growth in North America and Europe’s construction industry will perform better in the forecast period than the previous forecast, 2014–2018 – albeit slower than emerging markets. Electricity and power infrastructure will be the one of the fastest sectors in Europe as countries across the continent reaffirm their commitment to advance the implementation of the Paris Agreement and intensify their cooperation on climate change and clean energy.”

US President Donald Trump’s US$2 trillion infrastructure plan will undoubtedly provide support for the overall growth of the North America region’s industry in the next five years. However, the successful implementation of the plan will hinge on how individual states and municipalities can respond, knowing that the Federal Government is contributing just US$200 billion to this ten-year program.

Ghozzi concludes: “Whether solar, wind, or hydroelectricity, most countries in all regions are boosting their investments in green energy. Saudi Arabia’s landmark US$200 billion SoftBank deal to build the world’s largest solar farm tops the list of the power project pipeline.”

About Author

mike

mike

Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements