A COMPARATIVE STUDY ON THE CONSTRUCTION MARKET OF NORTH AMERICAN CONTINENT

The construction industry contributes a huge chunk to the world GDP. However, it has been affected by the ongoing economic downtown and financial debt crisis, with building construction in all regions apart from Asia and Latin America drop from a very high level to a record low. In North America, the construction spending is continuous to be constrained in the United States, while the construction market in the US remains stagnant over the next few years. On the contrary, the Canadian and Mexican construction markets are expected to constrain growth, though they are also affected from the recession. The current study will present the current construction market in North America. The purpose is to find the potentials for international business within the construction industry in the United States, Canada and Mexico. Besides describing the current market scenario in each country and its effect on the construction sector, we will go ahead to identify main drivers for the construction output. The report will also reflect on the conduciveness of the construction sector on embarking internal projects. Lastly, various operational and commercial challenges that the firm may encounter will be discussed.