Published on 21 Dec 2022 on Insider Monkey via Yahoo Finance
15 Biggest Construction Companies in the World
In this piece, we will take a look at the 15 biggest construction companies in the world. For more companies, head on over to 5 Biggest Construction Companies in the World.
The construction industry is a pivotal sector of any economy, and it is also one that is often used by governments to stimulate economic growth. This sector employs millions of people, and government spending leads to more employment and spending in the economy as houses, apartment complexes, road works, and other buildings are built. This in turn also ends up supporting a variety of different industries involving building materials such as wood, cement, and steel.
Therefore, it's no surprise that the construction industry is also one of the largest in the world - deemed more valuable than lucrative sectors such as crude oil and automotive. For instance, a research report from Exactitude Consultancy outlines that this sector was worth $11 trillion last year and it will grow at a compounded annual growth rate (CAGR) of 7.3% between then and 2029 to sit at an estimated worth of $17 trillion. The research firm attributes this growth to rising global populations and more people heading to the cities to earn and live.