A recent research conducted by Timetric, a leading provider of online data, analysis and advisory services on key financial and industry sectors that United Arab Emirates will be one of the potential emerging markets in construction industry b y 2014.
The forecast report was made with a survey within the global construction industry whereas 53% of survey respondents are positive about revenue growth expectations over the next 12 months while 24% are less optimistic and the 22% expects no change in the revenue growth.
The confidence of the 53% optimistic respondents were supported by continuous and growing numbers of pipeline projects worldwide as executives also expects increasing levels of consolidations.
It reflects that the construction industry is confident on the revenue growth in 2014 than in 2012.
According to the report, increased investments in IT infrastructure, public and private-sector construction projects, and growing demand for sustainable construction are likely to be key growth drivers.
On the other hand, slow recovery in the global economy and weak market conditions, a growing desire for large construction companies to increase their global presence, and increased pressure of rising costs on small and medium-sized construction companies are considered the key drivers for mergers and acquisitions.
The report also identifies India, Brazil, China and Saudi Arabia to be the promising emerging markets for 2014.
Due to escalation of projects in infrastructure development in housing, roads, ports, aviation infrastructure and power generation, India has been recognized as a key emerging market in the global construction industry.
Other countries associated as primary expanding markets are US, Canada, Singapore, Australia and the UK.
France, Italy and Spain are expected a lower growth potential.