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Building & Construction

What is the construction industry?

The construction industry is among the most vital and time-honoured sectors. It is a segment focused on building structures and related services. Also, it includes architecture, repair, engineering, material production, and building element manufacturing. It is a sector with a diverse and extensive inter-sector network and high stability. It is because of the importance of buildings. For instance, the sector has links to the chemical, transportation, and financial industries. Also linked to it are the electrical, energy, environment, retail, mining, and engineering sectors. In addition, it applies to the architecture, defence, energy, geodesy, medical, and pharmaceutical industries. Likewise, it applies to the residential, government, HoReCa, business, sports, and other sectors.

How extensive is the industry?

As a result, it is one of the most vital and high-revenue sectors. For instance, it has recently reached a market size of $16.15 trillion. Also, the industry spans over 1,841,000 enterprises. It similarly employs 174 million professionals.

Is the industry innovative?

The construction industry is among the segments that place high emphasis on innovation. This is because of the importance of ensuring that structures are safe for use. Generally, novel solutions result from discussing the latest challenges. Such include, for instance, sustainability. These are discussed during various trade expositions. They are held in innovative or time-honoured countries. Examples include the People’s Republic of China and the United Kingdom. They also feature the Kingdom of Sweden and the Swiss Confederation. Examples additionally incorporate the Federative Republic of Germany and the Italian Republic. Likewise, the Kingdom of Spain also hosts such trade expositions. Many of the construction events take place every one to two years. Some exceptions are held every three years. Such events often attract hundreds of thousands of participants.