A new report from Timetric, a global provider of online market data for the construction and infrastructure industries, reveals that the industrial sector is seeing considerable recovery with the total global value of industrial construction projects tracked by CIC standing at US$2.28 trillion.
This increase is largely due to the industrial production growth and increased commodity and oil prices.
The report finds that domestic demand is the key factor driving industrial production, with the emerging markets and developing economies leading the recovery in commodity exports and industrial production.
Asia-Pacific has the highest value of projects with US$1.13 trillion, while India has the highest value of global project investment with a value of US$376.7 billion.
However, the highest value project tracked by CIC is the US$30.0 billion Nanjing Semiconductor Manufacturing Plant in China.
The highest value of projects worth US$1.06 trillion are at the planning stage. The highest value of projects will be underway in 2019 with a value of US$542.5 billion.
The highest value of completions for the projects will occur in 2020, with a value of US$614.4 billion.
Read the article online at: https://www.worldcement.com/special-reports/08032018/construction-sector-sees-growth-due-to-emerging-markets/