L&T Construction, the construction unit of Larsen & Toubro, has won orders worth INR14.54bn ($228.86m) across various business segments.
Italian infrastructure group Salini Impregilo has won four contracts worth $490m in Oman, Abu Dhabi and the US in the water and transportation sectors.
The Astaldi Group of Italy has signed three construction contracts worth €400m for projects in Chile, Poland, and Honduras.
The pace of expansion in the global construction industry will improve in the next five years, with growth averaging 2.8%, according to a new report from Timetric's Construction Intelligence Center (CIC).
Confidence levels among construction industry executives continued to rise in the first quarter of 2017, according to the latest update of Timetric’s Construction Confidence Survey.
The global construction industry risk levels have risen for the fifth consecutive quarter, according to Timetric’s Construction Intelligence Center (CIC).
1. Barzan Gas Development – Qatar
Confidence levels among construction industry executives have risen in the last quarter of 2016, according to a new survey.
London is at the top of a list of ‘construction mega cities’ with total project values close to $426bn, according to a new report.
The European and Indian construction machinery markets have shown growth this year, while other regions have seen a slow-down, according to Germany’s engineering association the VDMA.Latest research from the Construction Equipment and Building Material Machinery arm of the VDMA suggests that the machinery sector has grown in regions including France, Germany and India. The Middle East and North America, on the other hand, have registered drops in machinery sales, in addition to the weak markets of Latin America, Africa and parts of Asia. After five years of recession, China still hasn’t recovered from a loss of an accumulated 80% of its volume, says the report.The research also anticipates a drop in the global construction machinery sales due to regional developments, even though German manufacturers are set to register a slight turnover increase of 3%.Johann Sailer, VDMA chairman, said: “This is primarily due to the strong European market.”However, growth might not be equal for all manufacturers, added Sailer: “Depending on where a company’s focuses lie individual results could still be on the negative side.”Building material machinery updateThe report from the VDMA also examines the building material plant and machinery business.The sector is subject to less instability than the construction machinery sector. Nevertheless, manufacturers depend on long-term stable growth markets and these are deficient at the moment — due to the Russian market breakdown. Only Central Europe, India and North America are rated as satisfactory.Overcapacities also present a challenge for manufacturers. When it comes to this, the sector automatically thinks about China, says the association.“We don’t expect suppliers from China to flood the market with their equipment but the trend is clear – when domestic markets are weak companies shift to export markets,” said Sailer.In addition, political and economic uncertainties are present in many sectors. “We don’t want to just keep talking about crises and many current issues do not even have a direct impact on the construction sector. But obviously, news of this kind always affect the investment climate among our customers,” said Sailer.Overall, the VDMA concluded that “the construction equipment and building material machinery industry is indeed a growth sector”.
Construction experts remain optimistic in the strength of the industry, according to a new report, despite the first quarter of 2016 being marked by a decline in confidence levels.Timetric’s Construction Confidence Report concluded that the industry’s current confidence levels have declined from 61.5 points in Q4 2015 to 61.2 points in Q1 2016, following a downward trend that started in 2014.Even though this is the fifth successive quarter of decline, the score remains above the 50-point mark which indicates a positive outlook regarding growth prospects — and the industry is optimistic regarding growth expectations for the next six months.Danny Richards, leading economist at Timetric’s Construction Intelligence Center (CIC), recognises the positive findings, but states that the decline has had an impact in construction companies. “Although still optimistic over the potential for growth, the decline in the Current Confidence Index suggests that the level of optimism is weakening, and that it is becoming more challenging to win contracts,” he said.<iframe src="https://timetric.com/c/MBEPE5U/chart/" style="width:500px;height:350px;border:0;" frameborder="0" scrolling="no"></iframe>
A new report from Timetric’s Construction Intelligence Center has identified four national markets as key growth regions for the construction industry to 2020.
Global construction output will reach US$10 trillion by 2020, driven by Asia-Pacific and emerging markets, according to a new report from Timetric’s Construction Intelligence Center.The Global Construction Outlook 2020 report forecasts that expansion will increase by an annual average of 3.4% from 2015 to 2020, leading to the overall market value growing from $8.5tr to $10tr. In the previous five years annual average growth was 2.4%, with output increasing from the 2010 total of $7.5tr.Emerging markets will account for more than half of the global construction output in 2020, rising to 51.9% from its 43.9% share in 2010, despite the annual average rate of growth slowing to 4.2%, from 5.2% in 2011-2015.Growth in the Asia-Pacific region is set to slow, due in part to the slowdown in China’s construction sector, exacerbated by a glut of new residential property being completed. However, the region will still account for the largest share of the global construction industry, with South-East Asia investing heavily in new infrastructure projects funded by private investment.Western European markets will continue to recover, the report states, although investor confidence is fragile due to ongoing troubles in the Eurozone, and the crisis involving Russia and Ukraine. The German construction industry will remain slow, due partly to the government’s focus on austerity.
The analysts at Timetric's Construction Intelligence Center look forward to what the construction industry across the world can expect in 2016.
High-rise urban housing projects have undergone a renaissance in recent times – despite many failed projects from the 20th century that became associated with poverty, the latest generation of structures are designed for luxury.
After the Spanish housing construction market was severely damaged during the recession, the country’s crane manufacturers had to look abroad and expand their portfolios. Daniel Searle reports from Zaragoza.
Big engineering and construction capital projects demand the use of sophisticated project management techniques as the basis for project planning and scheduling. Shane Forth, project management office director at Costain, shares his experiences.