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 railway infrastructure construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. West Santa Ana Branch Transit Corridor
The project involves the construction of a 31km LRT line corridor in Santa Ana, California, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2035.
The project aims to provide improved mobility, support local and regional land use plans and policies, minimize environmental impacts, ensure cost-effectiveness and financial feasibility, and promote equity and the project is a part of the Los Angeles 2028 Olympics. Buy the profile here.
2. Changsha-Liuyang Maglev Express Line
The project involves the construction of a 48.73km maglev rail line from Changsha to Liuyang in Hunan, China.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2031.
3. Long Bridge Project
The project involves the construction of a 2.89km, two-track bridge located between Virginia and Washington, DC, the US.
Construction work started in Q4 2024 and is forecast to complete in Q4 2030.
The project aims to double the capacity of the bridge to handle more commuter and intercity rail services and expected increases in freight transportation over the coming decades. Buy the profile here.
4. Changsha Metro Line 4 North Extension
The project involves the construction of a 14.88km north extension of metro line 4 in Changsha, Hunan, China.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2028.
The objective of the project is to build a rail system to reduce congestion. Buy the profile here.
5. Yurakucho Metro Line Expansion
The project involves the construction of a 4.9km metro line from Toyosu to Sumiyoshi in Tokyo, Japan.
Construction work started in Q4 2024 and is expected to be completed in Q3 2030.
The project aims to serve the waterfront area of Tokyo’s Koto Ward. Buy the profile here.
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.
