The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest railway infrastructure construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. RRTS Delhi to Alwar Rail Corridor
The project involves the construction of a 164km rail corridor that runs from Delhi to Alwar through Rewari in India.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
The project aims to provide enhanced transport infrastructure in Haryana and Delhi as part of plans for the economic development of the region.
2. Mianyang-Suining Railway Line
The project involves the construction of a 136km railway line between Mianyang and Suining in Sichuan, China.
Construction work commenced in Q3 2024 and is expected to finish in Q3 2027.
The project aims to reduce traffic congestion, travel time and distance between the cities.
3. Hangzhou Metro Line 12: Phase I
The project involves the construction of a 26km metro line in Hangzhou, Zhejiang, China.
Construction work started in Q3 2024 and is forecast to complete in Q4 2028.
The objective of the project is to build a rail system to reduce traffic congestion and travel distance.
4. Shenzhen Metro Line 19
The project involves the construction of a 33km metro railway line in Shenzhen, Guangdong.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2031.
The objective of the project is to build a rail system to reduce traffic congestion and travel distance in the region.
5. Beijing Metro Line M101: Phase I
The project involves the construction of a 19km metro rail line in Beijing, China.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
The objective of the project is to improve the traffic system and reduce travel time and distance.
For more details on the latest construction projects, buy the profiles here.
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