Construction Global Market Report 2021

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Reportlinker.com announces the release of the report “Construction Global Market Report 2021: COVID 19 Impact and Recovery to 2030”.

Construction Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Major companies in the construction market include China State Construction Engineering Co Ltd; China Railway Group Ltd; China Railway Construction Corporation Limited; China Communications Construction Group Ltd and Vinci SA.

The picture above is for illustration purpose and is of Dubai who recently requested a postponment of 1 year of its Expo 2020 for reasons that are not far from those elaborated on here.

New York, Feb. 01, 2021 (GLOBE NEWSWIRE) — The global construction market is expected to grow from $11491.42 billion in 2020 to $12526.4 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16614.18 billion in 2025 at a CAGR of 7%.

The construction market consists of sales of construction services and related goods by entities (organizations, sole traders and partnerships) that construct buildings or engineering projects (e.g., highways and utility systems). Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The construction market includes new work, additions, alterations, maintenance, and repairs. The construction market is segmented into buildings construction; heavy and civil engineering construction; specialty trade contractors and land planning and development.

Asia Pacific was the largest region in the global construction market, accounting for 42% of the market in 2020. North America was the second largest region accounting for 26% of the global construction market. Africa was the smallest region in the global construction market.

Building construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to World Green Building Trends Survey 2015, about 51% of construction firms in the UK were involved in green construction projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled material are being widely used in the UK. Other green construction techniques such as cross-ventilation for more natural environment, green construction software such as Construction Suite to ensure green compliance, and Green Globes management tool are also being used in the construction industry. For instance, some, Major companies using green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps and Holder Construction.

Construction costs have increased steadily due to rising material costs in the historic period. Companies in the industry experienced subdued growth in their profits with rising prices of materials such as crude oil, a key component of asphalt increased by 49%, softwood lumber, a major component used for buildings construction, which rose by 23% during historic period. In 2018, cement prices rose 2.5% and plumbing and fixtures increased by 3% in the US. High material prices adversely affected the construction market during historic period.

The construction market growth in the historic period was mainly driven by the increase in construction activity in emerging markets. Emerging markets which registered robust construction activity included China, Brazil, India, Saudi Arabia and Indonesia. For instance, China’s construction market grew from $1,653 billion in 2016 to $2,279 billion in 2019. This rapid growth in construction activity contributed to the growth of the construction market.


Read the full report: https://www.reportlinker.com/p06018955/?utm_source=GNW

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Four strategies for growth in MENA

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The London based WARC posted a summarised page of News on 16/09/2020 of its report covering how Four strategies for growth in MENA would be best to be followed in the MENA region.


An analysis of the results of this year’s WARC Prize for MENA Strategy reveals key takeaways for the region’s marketers looking for growth opportunities, from finding niche audiences in smaller markets to developing more resonant touchpoints.

“As certain MENA markets are already enduring their second wave of COVID-19 and several continue to be buffeted by economic recession, identifying new strategies for growth is vital for brands,” says Lucy Aitken, Managing Editor, Case Studies at WARC.

“In this report, we’ve identified new approaches that this year’s winners have incorporated in their campaigns that can help brands to build strong strategic frameworks that have growth baked in.”

The four key takeaways highlighted in WARC’s 2020 MENA Strategy Report are:

1. Target the frontier markets

Pragmatic solutions that help specific communities in MENA’s frontier markets can be instrumental in driving growth. Empowering marginalised communities, particularly within the region’s smaller markets, can be an effective way to brand-build.

This year’s Grand Prix-winning initiative from Tunisie Telecom helped female farmers access social security via their handsets. The technological innovation instigated by the campaign set the precedent for a new digital government vision.

Melek Ourir, Strategic Planner at Wunderman Thompson Tunisia, advises: “Resist the temptation to ignore smaller markets and audiences that could unlock significant growth for your business.”

2. Unconventional touchpoints can underpin strategy

Identifying new, creative touchpoints strengthens strategy, resonating with or delighting audiences.

Three standout campaigns addressed consumer challenges and were not constrained by where the brands were traditionally ‘allowed’ to be present: clothing retailer Babyshop promoted the long-term health of mothers; cheese brand Puck reclaimed share at breakfast and lunch; and NGO Donner Sang Compter encouraged those who spill their own blood onto the streets in the tradition of Ashura to donate it instead.

Admiring the risks and the rulebreakers among this year’s winners that explored new touchpoints, judge Sunjay Malik, Associate Director, Strategy at PHD UAE, says: “Media mixes are rulebooks that we set ourselves, which over time make us less imaginative and less brave. Long live the rulebreakers, who in challenging themselves inspire us to be better.”

3. Humour: a strategic shortcut to likeability

Making people laugh is one of the most powerful ways to connect and can make your brand distinct from the competition.

Winning brands that used humour include Burger King, which launched a new spicy menu with its Who Said Men Don’t Cry campaign; telco Jawwy, which used entertaining video content to resonate with Saudi youth; and Egyptian telco Etisalat crafting a comic campaign to win customers over to its hybrid offer.

Jury member Shagorika Heryani, Head of Strategy at Grey MENA, says: “There’s always a place for humour – even during a crisis. Smart brands understand the relationship between humour and humanity. Companies know that we buy from brands and people we like. And humour is a shortcut to likeability and authenticity.”

4. Localise to resonate

This year’s winners are a treasure trove of local insight, proving how time invested upfront to unearth strong local insights tends to pay dividends in terms of a robust strategy.

Best-in-class examples include: KFC in Saudi Arabia, which communicated its commitment to locally-sourced chicken by turning all of its brand assets green – the colour of the Kingdom’s flag; and Grand Prix winner Tunisie Telecom, which devised a programme to offer social welfare coverage to female farmers.

WARC’s 2020 MENA Strategy Report can be downloaded here. The full report is available to WARC subscribers and includes chapter analysis of the four themes with views and opinions from the judges; objectives, results and takeaways of the winning case studies, and what these mean for brands, media owners and agencies; and data analysis.

WARC’s Lucy Aitken will deep-dive into using humour as a successful marketing strategy at Lynx Live on 5-7 October in her keynote ‘Humour: the smart shortcut to brand fame’.

The WARC Prize for MENA Strategy is a free-to-enter annual case study competition in search of the best strategic thinking from MENA’s marketing industry. Next year’s prize will open for entries in January 2021.

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