Canadian construction Market [Canadian Construction]

Canadian construction Market

CanadaConstructionExpenditures Res Nonres Government CSC2011A recent report projects that world construction output will grow 70% from its current level of US$ 7.5 trillion to $ 12.7 trillion by 2020, increasing from 13.5% of global GDP to 14.6% in 2020. According to Global Insight IHS currently less than 10 % of this is considered to be green construction, but this is projected to increase dramatically in the next ten years.

As an example, an increasing proportion of infrastructure spending is going to renewable energy including wind, solar, biomass, hydro and geothermal, which in turn in many countries is driving increased investment in smart grids. Significant investment is also going into electrifying transportation, including electric and hybrid automobiles, and into reducing emissions from buildings through electrification, co-generation, and energy conservation. All of these things involve design, construction, and maintenance of infrastructure including buildings, highways and roads, electric power plants, water treatment plants, and electric power, telecommunications, and water and wastewater networks.

One of the major challenges that the construction industry faces is how are we going to find the skilled workforce that is going to do all this ? A recent report discusses this issue in Canada.

The total annual expenditure in Canada on construction and maintenance for government, commercial, and residential is more than $220 billion. This industry directly employs 1.2 million workers (6 percent of Canadian employment), and contributed more than 12 percent of the Canadian gross domestic product (GDP).

During the period 1996 to 2008 in Canada there was rapid expansion in all categories of construction, followed by a decline during the the latest recession. According to a Construction Sector Council (CSC) forecast, increasing construction expenditure is expected to resume and is expected to continue to increase through 2018.

CanadaUtilitiesCapitalInvestment New Sustaining CSC2011 CanadaUnemploymentRate CSC2011
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