Construction market set for steady rise as data‑centres and insurance deals reshape priorities

Global Construction Market at a Glance: Size, Growth and Long‑Term Trends

Global construction activity is forecast to rise from about USD 13.4 trillion in 2025 to roughly USD 20.6 trillion by 2033, driven by a steady 5.51% annual growth over the period. This broad market covers homes, offices, factories and the big, road, rail and airport projects that connect cities. In plain terms, the sector acts as a major engine of economic development, offering jobs and pushing advances in materials, technology and project planning methods.

The market’s footprint is not limited to new builds. It also includes maintenance, upgrades, and long‑term infrastructure programs. As cities grow and industries modernize, construction teams are increasingly focused on delivering projects that blend durability with efficiency. Across the sector, the push toward better design and smarter construction methods is reshaping how work gets done on sites of all sizes.

Key themes shaping the forecast include a shift toward sustainability and the adoption of digital tools and new construction technologies. Green building rules, energy‑efficient designs, and the use of renewable materials are becoming standard on many schemes. At the same time, digital aids such as Building Information Modeling (BIM), 3D printing, and automated equipment are helping teams plan with more precision, cut waste, and coordinate more effectively with all project partners. These innovations are often linked to cost savings and higher quality outcomes in the longer run.

Where the Growth Is Happening: Segments and Technologies

The market spans a wide range of activities, from residential construction and commercial structures to large‑scale infrastructure projects like highways, bridges and airports. Market data highlight a diversified competitive landscape, with global firms, regional builders and specialist service providers all playing roles. Companies are increasing research and development to roll out new building methods, smart building systems and low‑carbon solutions.

Among the technology trends, BIM is helping teams plan more accurately, 3D printing is enabling quicker, more flexible production of components, and automated construction equipment is enhancing site productivity. These technologies are linked with better collaboration among stakeholders, reduced waste and potential savings that help projects stay on time and on budget.

African Data Center Market Shows Strong Acceleration

In a region‑focused view, the data center construction market in Africa is growing rapidly. The market was worth about USD 1.26 billion in 2024 and is projected to reach roughly USD 3.06 billion by 2030, reflecting a CAGR of 15.94% from 2024 to 2030. This surge is driven by rising cloud investments, stronger demand for computing power, and a broader shift toward renewable energy solutions in data center operations.

Analysts point to key drivers such as the spread of cloud services and the role of artificial intelligence in data center design and operation. The regional focus also highlights infrastructure requirements—electrical and cooling systems, mechanical infrastructure and general construction disciplines—that shape how data center campuses are built and upgraded. The Africa outlook underscores the importance of ongoing investment in support infrastructure to meet growing digital needs.

Acquisition Highlights: Ryan Specialty’s Expansion Into Ireland

A recent market development involves a major insurer and broker group acquiring a Dublin‑based underwriter that focuses on commercial construction insurance. The deal places the acquired company under a broader underwriting management framework, with management and technical leadership emphasizing cultural fit and a shared commitment to service levels in the Irish market. The new arrangement is expected to broaden product offerings and draw on the parent group’s platform and resources to support growth in Ireland’s construction insurance space.

The acquired business has built its niche around risk‑based products for the construction sector, including policies that address latent defects and owner‑controlled programs. Since its founding in the mid‑2010s, the firm has relied on a proprietary approach to risk modelling to help manage risk concentration and secure strong capital backing. The integration into the wider underwriting group is viewed as a natural fit that could extend services and support to brokers working with construction clients since 2019. Executives noted their aim to preserve service standards while expanding the range of capabilities available in the Irish market.

Local Challenge: Unpaid Derelict Site Levies in Dublin

In Dublin, a notable local issue involves a terrace of five Victorian cottages at a prominent canal frontage that partially collapsed after an early morning incident. The site has been on a derelict list since last year, and the managing federation for the construction industry has reportedly not paid more than a modest levy tied to the market value of the properties. The levy wheels into action as a charging mechanism designed to fund repair or redevelopment work and to deter long‑term dereliction. The unpaid balance is in the vicinity of six figures in euros, and the levy accrues interest over time.

The collapsed structure caused disruption to nearby pedestrian and cycling routes and drew attention to the broader issue of how derelict sites are managed, funded, and brought back into use. Local officials say the federation remains responsible for the site and for resolving the public concerns associated with the collapse, including plans to move forward with future redevelopment on adjacent properties. Community figures have called for stronger incentives and higher levies to encourage timely rehabilitation and reuse of vacant sites in housing‑hungry areas.

What These Points Mean for the Construction Sector

Taken together, these data points illustrate a sector that is growing in size and complexity. The global market remains large and expansive, with significant growth expected in specialized areas such as data centers in rapidly developing regions. At the same time, sector‑level governance and funding are key to maintaining safety, urban renewal and housing supply, as shown by the Dublin derelict site case. Technology adoption and sustainability requirements are reshaping how projects are planned, funded and delivered, while strategic moves by insurers and underwriters help support a more robust risk management framework for construction projects around the world.

Notes on the Source Material

The figures and trends summarized here reflect multiple market releases and regional outlooks. They describe size, growth rates and project timelines for the construction market globally, with dedicated notes on Africa’s data center market and on notable corporate movements in the construction insurance sector. The material also includes references to derelict site issues in Dublin and related policy considerations. A link to the full report is provided in the source materials for readers seeking deeper detail.

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