PPB September 2021

by Audrey Sellers Cons t ruc t i on The Roar And Rumble Of The Rising Construction Market T he pandemic threw a wrench into the construction market, but companies are digging out of the disruption. This year, the global construction market is projected to reach $12.5 trillion, up nine percent from 2020, according to Research and Markets. By 2025, the market could top $16.6 trillion. North America is a major contributor to the construction industry, accounting for 26 percent of construction worldwide. This region is second only to Asia Pacific, which comprised 42 percent of the market in 2020. Dodge Data and Analytics forecasts total construction starts in the United States to climb to $877 billion in 2022, exceeding the 10-year high of $856 billion in 2019. A building boom is under way. Here’s how promotional products distributors can gain a foothold in this market. GROW 58 | SEPTEMBER 2021 |