Before knowing the list of top 10 construction companies in the world let’s understand the importance of the construction industry. To reach directly the list of the world’s best construction companies directly click here.
Why Construction Companies Are Important?
To keep developing civilization, be it with facilities, technology, connectivity or whatever strike the mind randomly; the common thing behind all this is “construction”. When we look into the contribution of the construction sector we observe the following benefits:
- Construction of roads and bridges for speedy connectivity.
- Construction of hospitals for better life expectancy.
- Construction of supermarkets and malls for untroubled reach.
- Construction of schools, colleges and universities for better education.
- Construction of houses for easy living.
Valuation, Data And Facts Of Construction Companies
As per Oxford Economics, “the Global construction sector was valued at $ 10.7 trillion in the year 2020.” To the surprise in this valuation, more than half was contributed by emerging markets. This data is justified by the construction work going on in developing countries for a trouble-free and better tomorrow.
This trend of more contribution from developing countries will continue in future too. This statement is supported by the world’s leading firm Marsh McLennan; which analyses risk and according to that help in planning strategy, thus helping organisations be successful and society more resilient in near future.
As per the studies of Marsh McLennan by the year 2030; “the global construction market is expected to increase by $4.5 trillion. Of the new expected value of $15.2 trillion in 8 years, $8.9 trillion will be from emerging markets, which will be the biggest region comfortably in the construction sector.
As the potential for construction market growth is higher in emerging economies, substantial growth is expected in Africa, followed by Asia. At present in the development of the construction sector globally, 58.3 per cent contributions are from four countries namely
- United States of America
The two reasons behind this growth are the following:
Ever-increasing population: This is highly evident in China, Indonesia and India. The United States is also facing this situation because of immigration for a better life and job opportunity available in that country.
Urbanisation: Growth in construction due to this reason is high in countries of Africa and Asia. As per the estimations, 2.5 billion people will reside in urban areas by the year 2050.
Let’s know about the biggest construction companies in the world that are contributing to making our future better and bright.
Top 10 Construction Companies In The World
Here is the list of the world’s largest construction companies as per the updated data for the year 2023. This list contains names of the top 10 global construction companies on the parameter of work done and revenue earned.
1. ACS Actividades de Construcción y Servicios S.A.
At the top of the list is ACS which is considered the number 1 construction company in the world. The location of this company is in Madrid, Spain. About one lakh ninety thousand five hundred (1,90,500) people are employed by ACS. This company is founded in 1997. The revenue earned by ACS is €39 billion.
A notable Project constructed by this company is Torre Glòries, a 38-story skyscraper located between Avinguda Diagonal and Carrer Badajoz stands at 144.44 m high. This marks the gateway to Barcelona, Spain.
This company have a presence in Germany, India, Brazil, Chile, Morocco and Australia.
2. Hochtief Aktiengesellschaft
This is considered the second largest company and the location of Hochtief Aktiengesellschaft are in Essen, Germany. The company employs about forty-seven thousand (47,000) people. The company was founded in the year 1874. The revenue earned by Hochtief Aktiengesellschaft is €21.1 billion.
A notable Project constructed by Hochtief Aktiengesellschaft is the Bosphorus Bridge of Istanbul, Turkey. This bridge is a gravity-anchored suspension bridge which connects Europe and Asia.
VINCI is located in Rueil Malmaison, France, that employs about two lakh twenty-two thousand people (2,22,000). VINCI was founded in the year 1899. The revenue earned by VINCI is €48.05 billion. As per the latest calculations, VINCI is the third-largest global construction company.
A notable Project constructed by this company is Louvre Entrance.
4. China Communications Construction Group Ltd.
Fourth on the list is China Communications Construction Group Limited which is located in Beijing, China. In the present day, the organisation employs about one lakh forty-seven thousand people (147,000). The company was founded in the year 2005 and the revenue earned is $79.8 billion
A notable Project constructed by China Communications Construction Group Limited is the Yangtze River Highway in its own country. This is located in the city of Yichang and cost 895 million yuan in the year 1998.
Bouygues is the fifth in our list of top 10 construction companies in the world. The location of this company is in Paris, France. This organisation employs about one lakh thirty thousand five hundred (130,500) people. Bouygues was founded in the year 1952 and the revenue earned is €35.55 billion.
A notable Project constructed by Bouygues is Musée d’Orsay a museum famous among painters for its collection. The museum is situated on the left bank of the Sein in France.
Strabag is the sixth company in our list of top 10 construction companies in the world which is located in Vienna, Austria was founded in the year 1835. This company employs seventy-four thousand (74,000) people. Strabag has earned revenue of €15.7 billion.
A notable Project of Strabag is Alte Weser Lighthouse situated in the estuary of river Weser, hence named after it.
7. Power Construction Corp. of China
The seventh in the list of top 10 construction companies in the world is located in Beijing, China and employs almost one lakh thirty-three thousand (133,000) people. The company was founded in the year 2011 and has a revenue of ¥347.7 billion.
A notable Project of the Power Construction Corporation of China is Adama Wind Farm located in Oromia, Ethiopia. This is an on-shore wind power project.
8. China State Construction Engineering Corp. Ltd.
China State Construction Engineering Corporation Limited is the eighth company of the top 10 construction companies in the world located in Beijing, China. Employs three lakh thirty-five thousand people (3,35,000) are the highest in companies listed here. This company was founded in the year 1957 and has revenue of ¥203 billion
A notable Project done by China State Construction Engineering Corporation Limited is Shanghai World Financial Center.
9. Skanska AB
The ninth company on the list is Skanska AB which is located in Stockholm, Sweden. It employs only thirty-one thousand employees (31,000) in the company which is the lowest in this list. The company was founded in the year 1887 and has a revenue of KR160.3 billion.
A notable Project constructed by Skanska AB is MetLife Stadium in New Jersey.
The tenth and last construction company in the list of top 10 construction companies in the world is Ferrovial, located in Madrid, Spain. The company was established in the year 1952. This company have a revenue of $13 billion and employs about sixty-three thousand (63,000) people in this organisation.
A notable Project constructed by Ferrovial is the famous London Crossrail.
In the list of top 10 construction companies in the world majority of companies were from China. Out of ten companies
- 3 were Chinese firms.
- 2 were Spanish firms.
- 2 firms were from France.
- The rest were from Germany and Austria.
China has a population of 1.4 billion people and hence has huge demand domestically which is the reason behind the dominance of China in the list of top 10 construction companies in the world.
To meet the demand of the population seamlessly Republic of China has created houses much more than actually needed. According to Business Insider, in 2021, “around 65 million homes in China were unoccupied.” Hence, they were termed infamously as ‘ghost cities.
By reading the article it is clear that the growth of construction companies is constant and inevitable all around the world. The step of Governments during covid times to lift the ban on construction works in the first place; shows the importance of this industry. The reason behind this can be easily understood by the 3 main reasons:
- Development projects of infrastructure.
- Massive employment creates.
- Support the economy.
However, what everyone should be conscious of is that the infrastructure and development projects construction companies get through the Government is completed with the money of tax-payers. The public money used for infrastructures like roads, bridges, hospitals and schools to create a social economy should be utilised wisely without any wrong intent.