China will push the U.S. into second place as the world�s biggest construction market before the end of the next decade, according to a new Web-based report called Global Construction 2020. With its construction sector set to rise at an annual average of 6.3% for the next five years, the U.S. will be among the world�s top 12 fastest-growing markets, but it will lose its preeminent position, according to the report�s 10- year global projections. Photo: Oyibosonline.com Will oil weath fuel growth in Nigeria’s main city, Lagos? + Image Photo: Global Construction While CG2020’s forecasts are presented to one decimal
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.