Technavio’s market research analysts estimate the construction spending market in BRIC countries, to grow at a CAGR of around 13% between 2016 and 2020. Large-scale investments in the construction industry propels the growth of this market. India and China are expected to invest hugely in residential construction and transport infrastructure development over the next four years.
The new market research report from Technavio provides a breakdown and analysis of the construction spending segments by technology.
“BRIC countries are attracting investors by introducing various incentive programs and initiatives in the construction projects. For instance, China offered farmland use tax exemptions on land used for infrastructural activities like the construction of roads, waterways, railways, and docks. Also, Brazil has proposed concession packages to upgrade and operate roads, railways, airports, and harbor terminals in the country,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Vendors are coming up with various innovative technologies in construction projects to ensure a rapid, efficient workflow. They are introducing new materials, design approaches and latest technologies in construction projects. Manufacturers have introduced lightweight laser scanners, customized drawings and usage of 3D printers, besides increasing the usage of cloud collaboration in construction sites.
The key vendors in the construction spending market in BRIC countries include Camargo Correa, China Communications Construction, China State Construction Engineering, DLF, GMR Infrastructure, LSR, Mostotrest PAO, and Odebrecht. Intense competition prevails in this market, where vendors compete on other parameters such as customer service and pricing. It is a capital-intensive market, where the entry of new players is limited owing huge initial investment costs.
A more detailed analysis is available in the Technavio report, Construction Spending Market in BRIC Countries 2016-2020.
We can customize reports by other regions and specific segments upon request.
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