Real Estate & Construction
Development of the industry economy
With a nominal construction volume of almost 400 billion euros and nearly two million employees, the German construction industry is a major sector of the German economy. Thanks to well-filled order books and a year-end rally in 2020, the sector came through the Corona pandemic unscathed and was able to go about its business without a care in the world.
Sales in the main construction sector increased by 5.9% in nominal terms in 2020. By contrast, developments in commercial and road construction were less rosy due to sales problems and cost-cutting measures. However, the share of gross value added in construction exceeded the 6% mark for the first time since 1997 in the crisis year 2020.
- Use of digital technologies to capture data, automate tasks and document construction progress.
- Design of education & training via virtual reality (hazard avoidance).
- Sustainable concepts (smart city) and modular construction (tighter capacities) are gaining importance