International
20:29 12 August 2020
Post by: WBJ

Pandemic may slow down global construction market

Pandemic may slow down global construction market
Source: Pikrepo

In 2019, the combined revenues of the 100 largest construction companies in the world amounted to $1.46 billion and increased by 5 pp. compared to the previous statement. Although the global demand for infrastructure in the next 30 years will still be huge, according to the latest, third edition of the Deloitte Global Powers of Construction 2019 report, this slight slowdown combined with the outbreak of the SARS-CoV-2 coronavirus pandemic negatively affected the forecasts for the year 2020 and raised levels of industry uncertainty for years to come.

Global Powers of Construction 2019" is an analysis and ranking of the world's largest companies operating in the construction sector. It takes into account, among others their market positions, revenues, stock market capitalization, degree of internationalization and profitability. The total revenues obtained by companies in the Deloitte Top 100 ranking increased by 5 percent in 2019, but only 10 companies in the ranking can boast double-digit growth. In the previous edition of the survey, such a result was achieved by as many as 45 enterprises.

"Our latest report shows the signs of a slowdown in the market and the impact of the Covid-19 pandemic on this situation. Although the forecasts are more pessimistic, both global and local demand for infrastructure is still very high," Łukasz Michorowski, Partner in the Audit & Assurance department, expert advisory services for the real estate and construction sector of Deloitte, said.

As in previous years, the ranking is dominated by Chinese companies, and their revenues account for 44 percent of the  whole. Invariably, the ranking is led by China State Construction Engineering, which recorded revenues of over $205.5 million. The other two places on the podium were also taken by Chinese companies – China Railway Group ($123.1 million) and China Railway Construction ($120.2 million). These three concerns account for 31 percent. total revenues of enterprises included in the ranking.

(WBJ)


deloitte
china
construction
pandemic
łukasz michorowski

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