“How has globalization impacted on the construction industry in terms of issues such as: structure, characteristics of the industry and individual firms, building cycles and forecasting the future direction of the overall economy and the construction industry in particular”.
TABLE OF CONTENTS Page
1.0 Executive Summary
4.0 Structure 4.1 The Global Construction Industry 4.2 Issues Relating to the Globalization Structure
5.0 Characteristics 5.1 Characteristics of the Industry 5.2 Individual Firms
6.0 Building Cycles
7.0 Forecasting the Future Direction 7.1 Future Direction of the Construction Industry …show more content…
The global construction market is quite large with most of the relative contracts being awarded to the top 225 contractors (Langford & Male, 2001). While the world’s top 225 contractors are quite large, they only hold a small portion of the global market. In line of this, the Australian construction industry structure in terms of the global market is relatively small in terms of manufacturing building materials and construction projects.
4.2 Issues Relating to the Globalization Structure
The overall force on the international construction market determines issues that relate to the globalization in the construction industry. International construction industry structure faces serious challenges from global climate changes during its life cycle. The following issues relating to the international construction industry structure include: • Economic recession is felt globally effecting the international construction industry • Impact of international construction firms operating within developing countries (Ulluwishewa, 2009). • The competitive nature of local construction firms creates general difficulty in international firms entering into the regional markets. • Degree of world construction trade flows • Larger construction firms moving there headquarters offshore • Key local construction