Global construction is set to boom over the next few years. According to the Statista Research Department the global construction industry is projected to double in 2030 compared to 2020, expecting to reach 14.4 trillion U.S. dollars.
This is huge news considering various factors such as the recent pandemic, as well as the recession on the horizon. Not to mention the Russian invasion against Ukraine. All considerable impactful components, yet construction is still coming out on top.
When you look at huge projects underway or forthcoming on a global scale though, such as Saudi Arabia’s Neom city or China’s South-to-North Water Diversion Project. Note, these will both cost billions! You’ll see why the future of construction is bright!
CONSTRUCTION BOOMING COUNTRIES
The countries booming when it comes to construction investment are China, the US and India. Not surprising though when you consider the size of their growing populations. As well as other factors such as economic stability, and a simple change in needs.
You may be scratching your heads at the fact China is ahead of the US currently. Up until 2010, the US was in the lead in terms of construction growth with a market value of $1,313 billion compared to China’s $1,035 billon. It was the recession of 2010 that caused the US to suffer with the housebuilding sector’s fall in most part. This resulted in a slowdown for the US construction industry. During this time China surpassed the US and continues to take the lead.
THE UK AND BREXIT
According to the Office of National Statistics, Great Britain experienced a record 16.3% fall in 2020 to £99,651 million down from £119,087 million in 2019. The main factor for this drop was the impact of the Coronavirus (COVID-19) pandemic. Leading to the UK government’s restrictions such as social distancing and furloughing of staff, meaning the country came to a standstill.
Construction new orders were at a record low in 2020, driven down by private housing, private commercial and public new work sectors. The only positive growth sectors for Great Britain were infrastructure and public new housing.
Another factor for the UK’s slow construction market growth included of course Brexit and the uncertainty surrounding this topic. Meaning investors held back waiting patiently to see how everything unfolded.
The future is bright for the UK though, as the drop isn’t expected to last long. The UK’s housing crisis remains rife and will provide a catalyst for many construction projects. These will include housing as well as a number of “mega-build” projects, plus of course rail and airport development. There’s no other time to buy a digger from the UK than now.
Some even predict the UK will not only return to form in the construction market, but that the UK will actually become one of the biggest contributors to the construction industry’s 14.7% share of all global economic output by 2030. Watch this space.
THE WORLD’S LEADING CONSTRUCTION PROJECTS
There are some hefty construction projects underway which are rather exciting, including a futuristic city!
Have you ever wondered what a futuristic city might look like by 2030? Let’s take a look at NEOM, which means ‘new future’. This exciting project is set to accommodate nine million residents from all over the world by 2030. Costing an estimated £371bn, this dubbed ‘living laboratory’ will comprise of towns, ports and enterprise areas.
The purpose of this construction project is to provide a more sustainable way of life. Ensuring residents have access to their basic daily needs such as food, education and healthcare all within a 5 minute walking distance.
The travel infrastructure will make it possible for NEOM residents and visitors to head from one end of the city to the other all within 20 minutes. Meaning there will be no requirement at all for cars or other vehicles. Thus NEOM will be a zero carbon city.
The NEOM developers state this will be a city with augmented reality technology at its core. The purpose is to ensure services are autonomous, saving residents and guests time, effort and money.
Designed by world leading architects, NEOM’s main building, ‘The Line’ claims to be built at 500m tall. This is impressive as ‘The Line’ building will be higher than the Empire State building or Eiffel Tower. It also aims to be 200m wide and 170km long. The building will be housed within a mirrored glass façade, meaning it will blend into the landscape. Focused on being eco-friendly, NEOM claim their ‘The Line’ building will have year-round temperature micro-climate with natural ventilation and 100% renewable energy and water supplies.
So for a city which claims to be a place for commerce and communities to thrive like never seen before, we are keen to see this construction project reach completion.
SOUTH-TO-NORTH WATER DIVERSION PROJECT
Another interesting construction project which caught our attention is China’s South-to-North Water Diversion Project. It’s the largest of its kind ever undertaken and is planned for completion in 2050. Expecting to cost around $62bn, the purpose of this project is to eventually divert 44.8 billion cubic metres of water annually to the population centres of the drier north. This will link China’s four main rivers.
So what do all of these construction projects mean when it comes to construction machinery?
According to Construction Europe, UK construction equipment sales rose by 70%. The Association of Construction Equipment Statistics released latest figures, which covers sales in the UK and Northern Ireland, revealing that more than 18,000 units of equipment were sold during the period of the first half of 2021.
The most popular machinery sold in the UK included telehandlers, crawler excavators and mini/midi excavator equipment. If you want to buy a digger from the UK, now might just be the perfect time.
Despite supply chain shortages due to Brexit and the Coronavirus (COVID-19) pandemic, the UK still held their own in construction machinery output. If you’re looking to buy a digger from the UK, look no further than BuyADigger.com.
TOP EXCAVATOR MANUFACTURING COMPANIES IN THE WORLD
Some of the top excavator manufacturers in the world include Volvo CE, Caterpillar, Thwaites, Hydrema and Hitachi. However, in our humble opinion nothing beats two well-known and well-established brands. At the top of our list are JCB and Komatsu.
The brand name for Joseph Cyril Bamford Excavators Ltd, JCB is a British born manufacturer of digger equipment. Well-known and well-respected, JCB exports 75% of its machines to around 140 countries worldwide. Best known for the invention of the JCB 3CX backhoe loader, you will find this versatile machine on many construction sites across the world.
Komatsu is very much up there when it comes to exceptional leading technology and excavator equipment. Already established in helping the industry to be forward-thinking and environmentally conscious, Komatsu hybrid digger sales are remarkable to say the least. Focusing their attention on fully electric machinery, Komatsu is paving the way for unparalleled success.
BUY A DIGGER FROM THE UK
When it comes to purchasing excellent quality machinery, the UK does not fall short. With leading UK brands such as JCB and Thwaites. As well as a pedigree of manufacturing arms including Marubeni-Komatsu located in the North of England, the UK construction machinery market is stronger than ever. Benefit from excellent quality machines at affordable prices and with financing options available.