China Will Soon Have 50% of the Global Building Market

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by: Wisdomsmith

Figures about China boggle the mind. Here’s another one (the second line).

China has the world’s largest construction market. Over the next decade, China will build half of the world’s new buildings and is currently adding 2 billion square meters of floor space annually.

Currently, 44 billion square meters of buildings exist in China. In order to meet China’s Green Building Standard many of those buildings need renovations for energy conservation. Additionally, it is estimated that by 2020, there will be an additional 30 billion square meters of new construction. This is about 3 billion square meters per annum.

How much is India’s annual building market in contrast? Havent come across a statistic like that. DLF in FY09 delivered 7 mn sq feet (or about 0.7 million sq mtr) of finished area. If DLF has say 0.5% market share in India (random number, but DLF is India’s no 1 building company, it is reasonable to expect a market share of that much atleast), total market may be 140 mn sq mtr.

So is China’s building market about 15x India’s market?