Boston, MA -- (SBWIRE) -- 07/17/2012 -- Despite differing significantly from each other in terms of politics, geography, culture and type of economy, the BRIC countries - Brazil, Russia, India and China - were combined to demonstrate the growing importance of these nations in the global economy. Due to the developing phase of the BRIC economies, the construction industry plays a significant role for all member countries. The important and common factors significantly affecting the construction industry in the BRIC countries include growing population (except in Russia), rapid urbanization and industrial development. In addition, rising levels of disposable income are also driving growth with demand for improved facilities and public infrastructure.
As a result of these factors, the value added to the construction industry in BRIC recorded a CAGR of XX.XX% during the review period. The Chinese market, which accounted for XX.X% of the value added to the construction industry in BRIC in 2010, recorded the highest CAGR of XX.XX% during the review period, and in the process recorded an increase in its market share by X.X percentage points to XX.X% by 2010. Apart from increasing urbanization and the Western China Development program, the most significant factor driving growth in the Chinese market during the review period was the initiation and completion of several significant infrastructure projects as part of the country's preparations for the 2008 Olympic Games. With a XX.X% market share in 2010, India was the second-largest construction market within BRIC, followed by Brazil with XX.X% and Russia with XX.X%.
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- The construction industry in BRIC recorded robust growth during the review period, as a result of continued economic development, increasing populations with rising disposable incomes, and the availability of natural and capital resources.
- Infrastructure construction constitutes both the largest and fastest-growing construction market in the BRIC construction industry.
- In 2010, industrial construction represented the second-largest market in the BRIC construction industry, accounting for a 23.6% share of the overall construction industry.
- The residential construction market recorded a CAGR of 18.56% during the review period, and is projected to achieve a more moderate CAGR of 10.04% over the forecast period.
- During the review period, the commercial construction market recorded a CAGR of 17.83%, with the leisure and hospitality category recording the highest CAGR of 24.70% and the other commercial construction category recording the lowest CAGR of 13.90%.
- Educational buildings and healthcare buildings, the two largest categories in the institutional construction market in BRIC, together contributed 85.4% of the value added in the market in 2010.
Companies Mentioned in this Report: Odebrecht SA, Punj Lloyd Ltd, The Public Joint-Stock Company (OAO Stroytransgaz), China Railway Engineering Corp., China Railway Construction Corp. Ltd
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