The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest automotive construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. Jawor Electric Vehicle Manufacturing Plant
The project involves the construction of an electric vehicle manufacturing plant in Lower Silesian Voivodeship, Poland.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
The purpose of the project is to meet the demand for electric vehicles in the region. Buy the profile here.
2. Shenzhen Shenshan BYD Auto Industrial Park Phase III
The project involves the construction of a battery pack and new energy vehicle parts manufacturing plant on a 130ha site area in Shenzhen, Guangdong, China.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2026.
3. Jiangmen Tayo Industrial Park Phase II
The project involves the construction of an industrial park on a 13.33ha site area with a 170,000m2 gross floor area (GFA) with a capacity of one million motorcycles in Jianghai District, Jiangmen City, Guangdong Province, China.
Construction work started in Q4 2024 and is forecast to complete in Q1 2027.
4. Heavy-Duty Truck Manufacturing Plant
The project involves the construction of a truck manufacturing plant on a 187,000m2 area in Ciénega de Flores Municipality, Nuevo Leon, Mexico.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2026.
5. Hangzhou Car Tire Manufacturing Plant
The project involves the construction of a passenger car tire manufacturing plant with a production capacity of nine million tires per annum in Qiantang New District of Hangzhou City, Zhejiang, China.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
