MARKET DATA AND INSIGHTS

Global connectivity

Global output

Globally, the change in the volume of work in 2024 is dominated by the relative cooling of the market in China, set against moderate growth in the Middle East and South Africa through to the end of 2025. The global picture in 2025 is moderately more upbeat.

Market activity

Market activity and movements across sectors are projected to be similarly muted this year. The strong advances over the medium term are in the apartments and infrastructure sectors.

Influences on construction escalation

When viewed through a global lens, materials costs are driving tender price inflation, along with labour availability (as opposed to wage inflation) and general inflation.

Tender price forecast

A simple average of tender price uplifts in RLB’s Tender Price Index of global cities shows an increase in cost very close to the current overall level of collective commodities pricing. In a muted market, input costs are the key driver.

Global output

The market disruption and price volatility the construction sector experienced worldwide in the wake of the pandemic demonstrated the connected nature of its supply chains. More than ever, construction materials and labour are linked across nations, regions and the globe.

Analysing global influences on local markets is therefore important, not only from an overall workload perspective but to understand sector differences and their impacts. Use our data and insights on these influences to inform your procurement and project management strategies.