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 road infrastructure construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. I-45 North Houston Highway Improvement
The project involves the reconstruction of 39.1km of I-45 North between Houston’s Downtown and the North Sam Houston Tollway in Texas, the US.
Construction work started in Q4 2024 and is expected to be completed in Q1 2032.
The project aims to improve the roadway up to federal safety standards and to enhance mobility. Buy the profile here.
2. G0611 Chuanzhusi to Wenchuan Expressway
The project involves the construction of a 200.60km expressway from Chuanzhusi to Wenchuan in Sichuan, China.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2027.
3. Guangzhou North Second Ring Expressway Reconstruction and Expansion
The project involves the construction of the 38.30km Guangzhou Second Ring Road Reconstruction Expressway in Guangzhou, China.
Construction work started in Q4 2024 and is forecast to complete in Q4 2028.
The project aims to build an expressway to increase highway mobility and reduce traffic, travel times, and distances. Buy the profile here.
4. Dongzhi-Poyang Expressway: Anhui Section
The project involves the construction of a 53.32km highway from Dongzhi to Poyang: Anhui Section in Anhui, China.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2027.
5. Mamre Road Upgrade
The project involves the upgrade of 10km of Mamre Road from M4 Motorway to Kerrs Road in New South Wales, Australia.
Construction work started in Q4 2024 and is expected to be completed in Q4 2029.
The upgrade is part of a plan to progressively upgrade arterial roads in western Sydney to deliver a more efficient, reliable network that meets the future needs of the community and the economy. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
