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
Q3 2024
Global construction markets are forecast to grow in the next 3rd and 4th quarter of this year, 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.
Evaluating 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.
The chances of a full-blown global recession /economic downturn remains reasonably high as move into the 3rd Q of 2024. On the positive side, the Global Construction sector is showing some signs of growth and is (for the most part) positioned for a recovery from the last lackluster COVID / supply chain years. Rising tensions in the Middle East and the ongoing Russia vs. Ukraine conflict / standoff are potential road blocks to future growth in 2024. However, the Global Construction Industry is resilient and is forecast to reach $11.5 trillion by the years’ end in 2024 and to possibly hit $14 trillion by 2026. Difficult conditions remain in place, the Global Construction industry will continue to face challenges in 2024. The Global Construction industry is expected to grow between 2.8% and 3.4% in the same period.
FREE RESOURCES
Free Estimating Templates
This real-world cost data format will help you in your estimating efforts. Check back regularly as we update these every few months!
