GITNUXREPORT 2026

Real Estate Construction Industry Statistics

The global real estate construction industry shows widespread growth despite rising costs and labor challenges.

Sarah Mitchell

Senior Researcher specializing in consumer behavior and market trends.

First published: Feb 13, 2026

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Statistic 1

U.S. commercial construction starts $516 billion in 2023.

Statistic 2

Global data center construction spending $250 billion in 2023.

Statistic 3

U.S. office construction put in place $85 billion in 2023.

Statistic 4

Infrastructure bill allocated $550 billion new spending for U.S. roads/bridges 2023.

Statistic 5

Europe's commercial real estate investment $200 billion in 2023.

Statistic 6

U.S. manufacturing construction boom $300 billion projects underway 2023.

Statistic 7

Airport construction globally $150 billion annual spend projected 2023-2027.

Statistic 8

UK infrastructure pipeline £650 billion through 2025 including commercial.

Statistic 9

Canada's commercial construction $120 billion in 2023.

Statistic 10

India infra capex ₹10 trillion in FY2023 for roads/rail/ports.

Statistic 11

U.S. warehouse/industrial construction $100 billion starts 2023.

Statistic 12

Retail construction square footage under construction 200 million sq ft U.S. 2023.

Statistic 13

China's high-speed rail added 1,500 km in 2023.

Statistic 14

Australia infrastructure spending AUD 120 billion in 2023.

Statistic 15

U.S. renewable energy construction $50 billion in solar/wind 2023.

Statistic 16

40% of U.S. nonresidential construction is manufacturing-related in 2023.

Statistic 17

Global hotel construction pipeline 3,200 projects/571,000 rooms in 2023.

Statistic 18

Brazil infrastructure investment R$100 billion in 2023.

Statistic 19

U.S. highway construction $50 billion obligated under IIJA in 2023.

Statistic 20

Germany's commercial property completions 5 million sqm in 2023.

Statistic 21

U.S. construction costs index rose 5.8% in 2023.

Statistic 22

Global steel prices for construction increased 15% in 2023.

Statistic 23

U.S. lumber prices averaged $450 per thousand board feet in 2023.

Statistic 24

Cement production costs up 8.2% globally due to energy prices in 2023.

Statistic 25

U.S. ENR Construction Cost Index reached 13,247 in March 2024.

Statistic 26

Diesel fuel costs for construction equipment averaged $4.20/gallon in U.S. 2023.

Statistic 27

Copper prices rose 2.5% to $8,500/ton impacting electrical costs in 2023.

Statistic 28

U.S. residential construction material costs up 6.1% YoY in Q1 2024.

Statistic 29

Asphalt prices increased 12% in Europe for road construction in 2023.

Statistic 30

China construction sand prices surged 20% in coastal regions 2023.

Statistic 31

U.S. labor costs represent 40% of total construction expenses in 2023.

Statistic 32

PVC pipe costs for plumbing up 10% globally in 2023.

Statistic 33

Insurance premiums for construction firms rose 9.5% in U.S. 2023.

Statistic 34

Glass prices for building facades increased 7% in 2023.

Statistic 35

U.S. heavy equipment rental rates up 5.2% in 2023.

Statistic 36

Concrete costs rose 6.4% in Australia 2023.

Statistic 37

Aluminum prices for construction up 4.8% to $2,500/ton in 2023.

Statistic 38

UK building material inflation at 2.1% in Q1 2024.

Statistic 39

India steel rebar prices averaged INR 55,000/ton in 2023.

Statistic 40

Global supply chain delays added 15% to project costs in 2023.

Statistic 41

U.S. electrical contractor margins squeezed by 3% due to wire costs 2023.

Statistic 42

Canada construction input prices up 4.7% YoY March 2024.

Statistic 43

Brazil cement prices increased 11% in 2023.

Statistic 44

U.S. single-family home construction costs averaged $428,000 in 2023.

Statistic 45

Europe gypsum board prices up 5% in 2023.

Statistic 46

U.S. construction employment reached 8.1 million in March 2024.

Statistic 47

Global construction workforce estimated at 281 million in 2023.

Statistic 48

U.S. construction unemployment rate was 4.0% in March 2024.

Statistic 49

Women represent 10.9% of the U.S. construction workforce in 2023.

Statistic 50

Average hourly earnings for U.S. construction workers rose 4.8% to $35.25 in March 2024.

Statistic 51

81% of U.S. construction firms reported labor shortages in 2023.

Statistic 52

U.S. construction added 186,000 jobs in 2023.

Statistic 53

Hispanic workers comprise 30% of U.S. construction workforce in 2023.

Statistic 54

Average age of U.S. construction worker is 42.7 years in 2023.

Statistic 55

24% of U.S. construction workers are self-employed as of 2023.

Statistic 56

UK's construction employment totaled 2.2 million in Q4 2023.

Statistic 57

India construction sector employs 71 million people, 7% of workforce in 2023.

Statistic 58

Australia construction workforce shortage of 90,000 workers projected by 2025.

Statistic 59

Canada construction employment up 2.4% to 1.5 million in 2023.

Statistic 60

Germany's construction employment stable at 2.4 million in 2023.

Statistic 61

China construction workforce over 50 million formal workers in 2023.

Statistic 62

Brazil construction unemployment rate 11.2% in Q4 2023.

Statistic 63

40% of U.S. contractors plan to hire more in 2024 per ABC survey.

Statistic 64

EU construction sector average wage €25/hour in 2023.

Statistic 65

South Africa construction employment down 5% to 500,000 in 2023.

Statistic 66

Japan construction workers average age 46 years in 2023.

Statistic 67

Mexico construction employment grew 3.5% to 1.2 million in 2023.

Statistic 68

15 million apprentices needed globally for construction by 2030.

Statistic 69

U.S. union membership in construction 12.6% in 2023.

Statistic 70

Vietnam construction labor force 7 million, shortage of 500,000 skilled workers.

Statistic 71

U.S. construction labor productivity declined 1.2% from 2021-2023.

Statistic 72

Australia construction wages grew 4.1% to AUD 38/hour in 2023.

Statistic 73

UK construction skills shortage affects 79% of firms in 2023.

Statistic 74

The U.S. construction industry spending reached $1.78 trillion in 2023, marking a 7.5% increase from 2022.

Statistic 75

Global construction output grew by 3.2% in 2023, projected to reach 4.1% in 2024.

Statistic 76

The real estate construction sector in Europe expanded by 2.8% in 2023, driven by residential demand.

Statistic 77

U.S. nonresidential construction put in place was $516 billion in December 2023.

Statistic 78

China's construction industry accounted for 29% of global construction output in 2022.

Statistic 79

Indian construction market size was $793 billion in 2023, expected to grow to $1.4 trillion by 2028 at CAGR 12%.

Statistic 80

U.S. construction industry added $2.1 trillion to GDP in 2022, 4% of total GDP.

Statistic 81

Middle East construction market valued at $243 billion in 2023, CAGR 6.5% to 2028.

Statistic 82

Australian construction industry output reached AUD 360 billion in FY2023.

Statistic 83

Brazil's construction sector grew 4.2% in 2023 after a 1.8% contraction in 2022.

Statistic 84

UK construction output increased by 0.1% in Q4 2023 compared to Q3.

Statistic 85

Canada's construction GDP grew 2.5% in 2023 to CAD 150 billion.

Statistic 86

Japan's construction orders rose 15.2% year-on-year in February 2024.

Statistic 87

South Korea's construction investment increased 3.8% in 2023.

Statistic 88

Mexico's construction sector expanded 5.1% in Q4 2023.

Statistic 89

U.S. construction industry market size was $1.67 trillion in 2023.

Statistic 90

Global green construction market projected to grow from $774 billion in 2024 to $1.6 trillion by 2032.

Statistic 91

Southeast Asia construction market to reach $1.1 trillion by 2028, CAGR 6.2%.

Statistic 92

Germany's construction production fell 2.5% in 2023.

Statistic 93

France construction output up 1.2% in 2023.

Statistic 94

Italy's construction sector grew 5.1% in 2023.

Statistic 95

Spain construction investment rose 4.8% in 2023.

Statistic 96

U.S. total construction spending forecast at $2 trillion by 2025.

Statistic 97

Africa construction market size $305 billion in 2023, CAGR 4.5% to 2027.

Statistic 98

Russia's construction industry grew 2.3% in 2023 despite sanctions.

Statistic 99

Turkey construction sector contracted 5.4% in 2023.

Statistic 100

Vietnam construction market to grow at CAGR 8.2% to $65 billion by 2027.

Statistic 101

Indonesia construction output up 4.7% in 2023.

Statistic 102

Thailand construction investment grew 3.9% in 2023.

Statistic 103

Philippines construction sector expanded 9.7% in 2023.

Statistic 104

New housing starts in U.S. totaled 1.41 million units in 2023.

Statistic 105

U.S. single-family housing permits issued 947,000 in 2023.

Statistic 106

Multifamily housing completions reached 442,000 units in U.S. 2023.

Statistic 107

Median sales price of new U.S. homes $417,700 in March 2024.

Statistic 108

U.S. housing inventory for sale at 4.2 months supply in Q1 2024.

Statistic 109

56% of U.S. new homes sold under $400,000 in 2023.

Statistic 110

UK's new home completions 214,000 units in 2023.

Statistic 111

Canada housing starts averaged 240,000 units annually in 2023.

Statistic 112

Australia residential building approvals 168,000 dwellings in 2023.

Statistic 113

India residential construction 250,000 new units in top 7 cities 2023.

Statistic 114

Median time to build U.S. single-family home 7.5 months in 2023.

Statistic 115

28% of U.S. new homes built by small builders (under 100 starts) in 2023.

Statistic 116

Germany's residential permits issued 265,000 units in 2023.

Statistic 117

France new housing deliveries 380,000 units in 2023.

Statistic 118

Spain residential construction grew 8.2% with 100,000 new homes in 2023.

Statistic 119

U.S. manufactured housing shipments 1.96 million since 2023 start projected.

Statistic 120

65% of U.S. millennials prefer townhomes in new construction surveys 2023.

Statistic 121

China residential floor space started 732 million sqm in 2023.

Statistic 122

Brazil new residential launches 45,000 units in top metros Q4 2023.

Statistic 123

U.S. homebuilder confidence index averaged 44 in 2023.

Statistic 124

42% of new U.S. homes include smart home tech pre-installed in 2023.

Statistic 125

Japan's housing starts down 6.1% to 790,000 units in 2023.

Statistic 126

Mexico residential construction permits up 12% to 120,000 in 2023.

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From towering cranes reshaping our skylines to a global spend exceeding $1.78 trillion in the U.S. alone, the real estate construction industry is a powerful economic engine, as revealed by a surge of data showing dramatic growth from America's residential boom to Asia's infrastructure dominance.

Key Takeaways

The U.S. construction industry spending reached $1.78 trillion in 2023, marking a 7.5% increase from 2022.
Global construction output grew by 3.2% in 2023, projected to reach 4.1% in 2024.
The real estate construction sector in Europe expanded by 2.8% in 2023, driven by residential demand.
U.S. construction employment reached 8.1 million in March 2024.
Global construction workforce estimated at 281 million in 2023.
U.S. construction unemployment rate was 4.0% in March 2024.
U.S. construction costs index rose 5.8% in 2023.
Global steel prices for construction increased 15% in 2023.
U.S. lumber prices averaged $450 per thousand board feet in 2023.
New housing starts in U.S. totaled 1.41 million units in 2023.
U.S. single-family housing permits issued 947,000 in 2023.
Multifamily housing completions reached 442,000 units in U.S. 2023.
U.S. commercial construction starts $516 billion in 2023.
Global data center construction spending $250 billion in 2023.
U.S. office construction put in place $85 billion in 2023.

The global real estate construction industry shows widespread growth despite rising costs and labor challenges.

Commercial and Infrastructure

U.S. commercial construction starts $516 billion in 2023.
Global data center construction spending $250 billion in 2023.
U.S. office construction put in place $85 billion in 2023.
Infrastructure bill allocated $550 billion new spending for U.S. roads/bridges 2023.
Europe's commercial real estate investment $200 billion in 2023.
U.S. manufacturing construction boom $300 billion projects underway 2023.
Airport construction globally $150 billion annual spend projected 2023-2027.
UK infrastructure pipeline £650 billion through 2025 including commercial.
Canada's commercial construction $120 billion in 2023.
India infra capex ₹10 trillion in FY2023 for roads/rail/ports.
U.S. warehouse/industrial construction $100 billion starts 2023.
Retail construction square footage under construction 200 million sq ft U.S. 2023.
China's high-speed rail added 1,500 km in 2023.
Australia infrastructure spending AUD 120 billion in 2023.
U.S. renewable energy construction $50 billion in solar/wind 2023.
40% of U.S. nonresidential construction is manufacturing-related in 2023.
Global hotel construction pipeline 3,200 projects/571,000 rooms in 2023.
Brazil infrastructure investment R$100 billion in 2023.
U.S. highway construction $50 billion obligated under IIJA in 2023.
Germany's commercial property completions 5 million sqm in 2023.

Commercial and Infrastructure Interpretation

Despite the constant talk of economic doom, the global construction industry, from data centers to high-speed rail, seems to have missed the memo and is spending trillions to quite literally build the future.

Construction Costs and Materials

U.S. construction costs index rose 5.8% in 2023.
Global steel prices for construction increased 15% in 2023.
U.S. lumber prices averaged $450 per thousand board feet in 2023.
Cement production costs up 8.2% globally due to energy prices in 2023.
U.S. ENR Construction Cost Index reached 13,247 in March 2024.
Diesel fuel costs for construction equipment averaged $4.20/gallon in U.S. 2023.
Copper prices rose 2.5% to $8,500/ton impacting electrical costs in 2023.
U.S. residential construction material costs up 6.1% YoY in Q1 2024.
Asphalt prices increased 12% in Europe for road construction in 2023.
China construction sand prices surged 20% in coastal regions 2023.
U.S. labor costs represent 40% of total construction expenses in 2023.
PVC pipe costs for plumbing up 10% globally in 2023.
Insurance premiums for construction firms rose 9.5% in U.S. 2023.
Glass prices for building facades increased 7% in 2023.
U.S. heavy equipment rental rates up 5.2% in 2023.
Concrete costs rose 6.4% in Australia 2023.
Aluminum prices for construction up 4.8% to $2,500/ton in 2023.
UK building material inflation at 2.1% in Q1 2024.
India steel rebar prices averaged INR 55,000/ton in 2023.
Global supply chain delays added 15% to project costs in 2023.
U.S. electrical contractor margins squeezed by 3% due to wire costs 2023.
Canada construction input prices up 4.7% YoY March 2024.
Brazil cement prices increased 11% in 2023.
U.S. single-family home construction costs averaged $428,000 in 2023.
Europe gypsum board prices up 5% in 2023.

Construction Costs and Materials Interpretation

Every line item on a construction budget from Beijing to Boston is screaming in unison that the entire industry's 2023 theme was, "Congratulations on planning that project; now please add 20% and try not to cry while filling up the diesel can."

Employment and Labor Force

U.S. construction employment reached 8.1 million in March 2024.
Global construction workforce estimated at 281 million in 2023.
U.S. construction unemployment rate was 4.0% in March 2024.
Women represent 10.9% of the U.S. construction workforce in 2023.
Average hourly earnings for U.S. construction workers rose 4.8% to $35.25 in March 2024.
81% of U.S. construction firms reported labor shortages in 2023.
U.S. construction added 186,000 jobs in 2023.
Hispanic workers comprise 30% of U.S. construction workforce in 2023.
Average age of U.S. construction worker is 42.7 years in 2023.
24% of U.S. construction workers are self-employed as of 2023.
UK's construction employment totaled 2.2 million in Q4 2023.
India construction sector employs 71 million people, 7% of workforce in 2023.
Australia construction workforce shortage of 90,000 workers projected by 2025.
Canada construction employment up 2.4% to 1.5 million in 2023.
Germany's construction employment stable at 2.4 million in 2023.
China construction workforce over 50 million formal workers in 2023.
Brazil construction unemployment rate 11.2% in Q4 2023.
40% of U.S. contractors plan to hire more in 2024 per ABC survey.
EU construction sector average wage €25/hour in 2023.
South Africa construction employment down 5% to 500,000 in 2023.
Japan construction workers average age 46 years in 2023.
Mexico construction employment grew 3.5% to 1.2 million in 2023.
15 million apprentices needed globally for construction by 2030.
U.S. union membership in construction 12.6% in 2023.
Vietnam construction labor force 7 million, shortage of 500,000 skilled workers.
U.S. construction labor productivity declined 1.2% from 2021-2023.
Australia construction wages grew 4.1% to AUD 38/hour in 2023.
UK construction skills shortage affects 79% of firms in 2023.

Employment and Labor Force Interpretation

While the world desperately builds its future, it's doing so on a shaky, understaffed, graying, and surprisingly well-paid scaffold—if you can find someone to hold the ladder.

Market Size and Growth

The U.S. construction industry spending reached $1.78 trillion in 2023, marking a 7.5% increase from 2022.
Global construction output grew by 3.2% in 2023, projected to reach 4.1% in 2024.
The real estate construction sector in Europe expanded by 2.8% in 2023, driven by residential demand.
U.S. nonresidential construction put in place was $516 billion in December 2023.
China's construction industry accounted for 29% of global construction output in 2022.
Indian construction market size was $793 billion in 2023, expected to grow to $1.4 trillion by 2028 at CAGR 12%.
U.S. construction industry added $2.1 trillion to GDP in 2022, 4% of total GDP.
Middle East construction market valued at $243 billion in 2023, CAGR 6.5% to 2028.
Australian construction industry output reached AUD 360 billion in FY2023.
Brazil's construction sector grew 4.2% in 2023 after a 1.8% contraction in 2022.
UK construction output increased by 0.1% in Q4 2023 compared to Q3.
Canada's construction GDP grew 2.5% in 2023 to CAD 150 billion.
Japan's construction orders rose 15.2% year-on-year in February 2024.
South Korea's construction investment increased 3.8% in 2023.
Mexico's construction sector expanded 5.1% in Q4 2023.
U.S. construction industry market size was $1.67 trillion in 2023.
Global green construction market projected to grow from $774 billion in 2024 to $1.6 trillion by 2032.
Southeast Asia construction market to reach $1.1 trillion by 2028, CAGR 6.2%.
Germany's construction production fell 2.5% in 2023.
France construction output up 1.2% in 2023.
Italy's construction sector grew 5.1% in 2023.
Spain construction investment rose 4.8% in 2023.
U.S. total construction spending forecast at $2 trillion by 2025.
Africa construction market size $305 billion in 2023, CAGR 4.5% to 2027.
Russia's construction industry grew 2.3% in 2023 despite sanctions.
Turkey construction sector contracted 5.4% in 2023.
Vietnam construction market to grow at CAGR 8.2% to $65 billion by 2027.
Indonesia construction output up 4.7% in 2023.
Thailand construction investment grew 3.9% in 2023.
Philippines construction sector expanded 9.7% in 2023.

Market Size and Growth Interpretation

While the global construction industry is quite literally laying a multi-trillion dollar foundation for the future, it’s clear some economies are building skyscrapers while others are just trying to patch the potholes.

Residential Construction

New housing starts in U.S. totaled 1.41 million units in 2023.
U.S. single-family housing permits issued 947,000 in 2023.
Multifamily housing completions reached 442,000 units in U.S. 2023.
Median sales price of new U.S. homes $417,700 in March 2024.
U.S. housing inventory for sale at 4.2 months supply in Q1 2024.
56% of U.S. new homes sold under $400,000 in 2023.
UK's new home completions 214,000 units in 2023.
Canada housing starts averaged 240,000 units annually in 2023.
Australia residential building approvals 168,000 dwellings in 2023.
India residential construction 250,000 new units in top 7 cities 2023.
Median time to build U.S. single-family home 7.5 months in 2023.
28% of U.S. new homes built by small builders (under 100 starts) in 2023.
Germany's residential permits issued 265,000 units in 2023.
France new housing deliveries 380,000 units in 2023.
Spain residential construction grew 8.2% with 100,000 new homes in 2023.
U.S. manufactured housing shipments 1.96 million since 2023 start projected.
65% of U.S. millennials prefer townhomes in new construction surveys 2023.
China residential floor space started 732 million sqm in 2023.
Brazil new residential launches 45,000 units in top metros Q4 2023.
U.S. homebuilder confidence index averaged 44 in 2023.
42% of new U.S. homes include smart home tech pre-installed in 2023.
Japan's housing starts down 6.1% to 790,000 units in 2023.
Mexico residential construction permits up 12% to 120,000 in 2023.

Residential Construction Interpretation

Despite a global patchwork of ambition—from America's cautious builders to Europe's steady output and Asia's sheer scale—the industry is collectively pouring foundations for a future where affordability remains a stubborn blueprint yet to be fully realized.

Sources & References

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