Dublin, Ireland, September 8, 2025
News Summary
A major market study forecasts significant expansion in the global construction market, driven by housing, commercial development and infrastructure, with sustainability and advanced technologies accelerating change. Africa’s data‑centre construction is identified as a faster‑growing niche due to cloud demand and AI workloads. The specialist insurance sector is consolidating after an acquisition of a Dublin and Galway underwriting business focused on construction risks. A partial collapse of a derelict Dublin terrace with large unpaid levies highlights safety, fiscal and planning challenges posed by long‑term vacancy. Together the trends point to growth, innovation and evolving risk management needs.
Global Construction Market Sees 2025 Size of $13.4 Trillion, Expected to Reach $20.6 Trillion by 2033
The latest market release places the worldwide construction market at USD 13.4 trillion in 2025, with a path to a USD 20.6 trillion target by 2033. The forecast also shows a steady CAGR of 5.51% from 2025 through 2033. This broad sector includes everything from homebuilding to major infrastructure projects like highways, bridges, and airports, and it is a key driver of jobs, innovation, and urban growth around the globe.
What this means in plain terms: as populations urbanize and economies expand, workers in construction and related industries are busy upgrading cities and expanding services. The market’s size reflects activities across residential, commercial, and industrial projects, as well as large-scale infrastructure programs. With governments and private developers investing in new housing, offices, roads, and railways, demand is expected to stay strong into the next decade.
Growth Drivers and Technology Shifts
Industry observers highlight several forces behind the expected growth. Urbanization and infrastructure needs continue to push demand for new buildings and transport networks. Green building and energy efficiency are becoming standard requirements for many projects, often paired with the use of renewable materials. The market is also moving toward digital tools such as Building Information Modeling (BIM), 3D printing, and automated construction equipment. These technologies aim to boost precision, cut waste, and improve collaboration, which can help lower costs and lift project quality over time.
On the business side, the competitive landscape remains diverse, with major multinational companies alongside regional contractors and specialized service providers. Investment in research and development remains a priority as firms seek new construction methods, smart-building technologies, and eco-friendly solutions. With ongoing demand for housing, commercial space, and infrastructure, the market is positioned for continued expansion and new opportunities for collaboration and innovation.
Regional Spotlight: Africa Data Center Market Growth
A separate Africa-focused report notes the continent’s data-center construction market was valued at USD 1.26 billion in 2024 and is projected to rise to USD 3.06 billion by 2030, reflecting a strong CAGR of 15.94% from 2024 to 2030. The analysis points to increased cloud investments, AI-driven demand, and renewable energy adoption as key growth drivers in the data-center segment. The report also outlines regional dynamics, including geography-specific opportunities, competitive landscapes, and infrastructure considerations such as electrical and mechanical systems and cooling technologies.
Industry Moves: Construction Insurance and Market Capacity
In corporate moves within the construction insurance space, a major specialty insurer completed an acquisition in Europe. The deal brought a Dublin- and Galway-based managing general underwriting firm into a larger underwriting platform, expanding capabilities in latent defect insurance and owner-controlled insurance programs. The integrated business emphasizes risk modeling and capital backing as part of its growth strategy. The broader market notes a strong push toward specialized services that support complex construction projects and the associated risk management needs, reflecting ongoing consolidation and expansion in coverage for construction-related exposures.
Derelict Site Levies and Dublin Terrace Collapse
In Dublin, a case has drawn attention to derelict site management. A terrace of five Victorian cottages on 2-6 Dunville Terrace, facing the Grand Canal, partially collapsed after 8am on a Monday morning. The site, listed on the council’s Derelict Site Register since 2023, is owned by a federation and remains unpaid on derelict levies totaling more than €140,000. Levies accrue at 7% per year on market value, with monthly interest at 1.25% on any overdue amounts. Municipal officials indicate that these charges must be settled to progress related property sales on adjacent blocks, including a substantial nearby office project. The derelict terrace and its collapse have been attributed to ongoing responsibility for the site and are being addressed through public inquiries and planning processes. Community commentary has included calls for higher levies and stronger enforcement to deter long-term vacancy and neglect, especially amid ongoing housing pressures in the city region.
Across the sector, this sequence of events underscores how financial levers, planning permissions, and ownership responsibilities intertwine with construction activity. As the market evolves, stakeholders highlight the need for clear policies and reliable funding streams to support safe, sustainable development while safeguarding urban housing supply and public safety.
Looking ahead, the construction market is expected to stay on a growth path as infrastructure needs persist, urban development continues, and technological innovations spread across planning, execution, and risk management. The combination of strong demand, new financing structures, and smarter building practices points to a period of steady expansion with opportunities for efficiency gains and smarter project delivery in the years to come.
Key Takeaways for Readers
- Global construction market size: USD 13.4 trillion in 2025
- Forecasted market size by 2033: USD 20.6 trillion
- Overall CAGR (2025–2033): 5.51%
- Major growth drivers include urbanization, infrastructure, green building, and digital construction tools
- Africa data-center market shows rapid expansion potential (2024 value USD 1.26B to 2030 USD 3.06B) with a 15.94% CAGR
- Industry moves include acquisitions that expand latent defect coverage and risk management capabilities
- Derelict-site levies and derelict-property issues remain a policy and financial challenge in urban areas
Frequently Asked Questions
Q1: What is the size of the global construction market in 2025?
A1: The market is valued at USD 13.4 trillion in 2025.
Q2: What is the projected market size by 2033?
A2: The forecasted size is USD 20.6 trillion by 2033.
Q3: What is the expected CAGR for 2025–2033?
A3: The expected CAGR is 5.51% over the period.
Q4: What factors are driving growth in the construction market?
A4: Growth is driven by urbanization, infrastructure investment, green building requirements, and the adoption of digital construction tools such as BIM, 3D printing, and automated equipment.
Q5: What is the Africa data-center market forecast?
A5: The Africa data-center market is projected to grow from USD 1.26 billion in 2024 to USD 3.06 billion by 2030, a CAGR of 15.94% (2024–2030).
Q6: What recent industry moves involve Ryan Specialty?
A6: Ryan Specialty Group acquired 360° Underwriting, expanding latent defect insurance capabilities and owner-controlled insurance programs, with integration into the RSUM division.
Q7: What is happening with the derelict Dunville Terrace site in Dublin?
A7: The terrace at 2-6 Dunville Terrace has faced unpaid derelict-site levies totaling over €140,000. The site is derelict and tied to planning and sale activities for adjacent properties, with ongoing enforcement and rezoning discussions affecting the broader redevelopment plans.
Key Features Table
| Feature | Details |
|---|---|
| Global market size (2025) | USD 13.4 trillion |
| Projected market size (2033) | USD 20.6 trillion |
| CAGR (2025–2033) | 5.51% |
| Major segments | Residential, Commercial, Industrial; infrastructure projects |
| Key technologies | BIM, 3D printing, automated construction equipment |
| Africa market data center (2024–2030) | 1.26B -> 3.06B, CAGR 15.94% |
| Notable industry moves | Acquisitions expanding latent defect insurance and risk management capabilities |
| Derelict site issue in Dublin | €140k+ levies owed; derelict site on register; implications for redevelopment |
Deeper Dive: News & Info About This Topic
Additional Resources
- Reuters: Ireland faces major challenges to scale up construction (Central Bank)
- Wikipedia: Construction industry
- BBC: Article
- Google Search: global construction market 2025 2033
- GlobeNewswire: Africa Data‑Center Construction Market outlook
- Encyclopedia Britannica: data center
- Insurance Business: Ryan Specialty acquires 360 Underwriting
- Google Scholar: construction insurance Ireland
- Irish Times: Construction Industry Federation site sale and dereliction levies
- Google News: derelict site levies Dublin
