Building and Construction

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The global population reached nearly 7.8 billion people in 2020 and is predicted to surpass 8.5 billion 2030. With projections indicating an additional 2.5 billion urban population by 2050, the need for infrastructure and construction is predicted to grow. Developed countries exhibit a per capita consumption of nearly 330 tonnes of construction materials, whereas developing countries have a lower consumption of nearly 60 tonnes of per capita. Considering the predicted population increase and a potential increase in living standards in developing countries, the construction of prevailing building stock would need to be rebuilt twice over by 2050.

Sub-Saharan Africa is predicted to witness the highest growth, with its population predicted to reach 1.4 billion by 2030, adding over 300 million to the 1.1 billion people in the region as of 2020. Certain African countries are estimated to undergo significant population rises, with Ethiopia predicted to add 30 million people by 2030, reaching a population of 145 million, and Nigeria adding nearly 60 million individuals to its residents. More than half of the global population growth between now and 2050 is anticipated to occur in Africa, with the population of sub-Saharan Africa predicted to double by 2050 from present levels. India is set to add 125 million to its inhabitants by 2030, reaching 1.5 billion. It is predicted that the population of India will surpass China during 2027, making it the world’s most populated country.

Modern construction methods are estimated to become commonplace.

The adoption of modern construction methods, such as off-site manufacturing, is predicted to become commonplace and is set to revolutionize construction productivity. There is a rapid advancement of distributed factories employing 3D printing technologies to introduce new components for construction assembly with the aid of developed robotics, specifically in the residential sector. The future of construction will be significantly influenced by key drivers, with emerging Asia playing a substantial role. In addition, the impact of Net Zero initiatives and responses to climate change is predicted to bring about significant changes in the construction industry. The swift procedure of digitalization and the adoption of modern construction methods will yield profound consequences for the construction industry and its foremost stakeholders. These transformative forces are altering risk profiles, necessitating the sector to adapt to leverage the substantial growth potential in construction. Companies strategically positioned to harness these drivers of change are predicted to flourish and probably lead the industry into a fundamentally different future.

Construction Industry Could Undergo a Transformative Shift with Real-time Access to Collaboration and Information Capabilities

The construction industry plays an important role in shaping our daily lives – from our homes and schools to hospitals. It has not only built the world we know but is also constructing the necessary infrastructure to support a rapidly growing population. In response to this, the construction sector has been investing in innovative technologies, including 3D printing, robotics, and AI. Key trends in the industry involve building information modelling construction robotics, and the usage of improved building materials.

The adoption of green materials is a significant trend, with eco-friendly choices like hemp in construction blocks attaining prominence. Innovative materials, such as clay combines with hydrogel, offer cooling effects, specifically beneficial in warm climates for energy-efficient room cooling. Experimentation with concrete is ongoing, with efforts to develop its properties by combining it with graphene, delivering high strength and resistance to moisture. Another advancement involves replacing conventional gas concrete walls in rapid construction with ready-made blocks consisting of ceramic granite titles and thermal insulation materials. Young segments, like the market for 3D printers in construction are witnessing rapid development, rising at a rate of 69% per year.