2023 Construction Cost Data
Industrial/Commercial Construction Cost Data
Compass International, Inc. is a professional commercial construction cost estimating and consulting firm established in 1992 to provide services to Owners, Financial Institutions, Design Professionals and Construction Organizations.
Compass International services include the publication of eight annual Industrial and Commercial construction cost databases, project and construction management, estimation reviews, audits, and validation services, as well as value engineering, strategic planning, and in-house training for up to 25 mid-senior level staff.
GLOBAL CONSTRUCTION NEWSLETTER
Q4 2024
The Global Construction Industry is set to embark on an amazing expansion in the next 15 years growing from $11.5 trillion today to a $20 trillion market, a 75% increase. India, China, USA, Brazil, Saudi Arabia, Vietnam & Canada will be the main countries that fuel this dramatic expansion. The Global construction markets are forecast to grow in the 4th Q of 2024. This growth will be marginal, however this is a positive trend when looking back over the last three years. Infrastructure and industrial related construction will be the construction sectors that drives this growth. The ongoing Israeli, Hezbollah and Hamas conflict has a real possibility of turning into a full-blown war that could escalate to initiate Iran & the USA increasing their military involvement.
Appraising the Global Construction Industry in 2024 is not any easy task, however a number of experts / economists and Compass International are reasonably bullish on the remainder of 2024 Construction prospects – as long as no new major events such as regional wars, a new COVID strain, social unrest & fuel / material price spikes.
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This real-world cost data format will help you in your estimating efforts. Check back regularly as we update these every few months!
