In this article, we will look into the 20 largest construction companies in the world. If you want to skip our detailed analysis, you can go directly to the 5 Largest Construction Companies in the World.
Construction Sector: An Analysis
According to a report by the Business Research Company, the global construction market was worth $14.39 trillion in 2022. It is expected to grow at a compound annual growth rate (CAGR) of 6.6% and reach $25.93 trillion by 2027. The growth can be attributed to growing urbanization, rising population, and increased government incentives.
The construction sector is one of the significant contributors to the economy of the United States. According to the Associated General Contractors of America (AGC), in the first quarter of 2023, there were over 919,000 construction establishments in the US. The industry has over 8 million employees and develops around $2.1 trillion worth of structures annually.
According to the monthly construction spending report by the US Census Bureau for January, construction spending in the US dropped slightly in January compared to December. The spending in January reached $2.1 trillion, representing a modest decline of 0.2% from December. The private construction sector’s spending remained at $1.6 trillion, while the residential sector witnessed an increase of 0.2% and reached $900.8 billion in January 2024. The public construction experienced a significant decline of 0.9% in the first month of 2024. Despite the mixed outlook for January, the construction sector witnessed a significant increase on a year-over-year basis. The construction spending in January 2024 increased by 11.7%, compared to January 2023. You can also look at 20 US Cities with the Most Million-Dollar Homes and 20 Best States for Construction Jobs in the US.
Major Players in the Market
Some of the major players in the global construction market include Vinci SA (OTC:VCISF), Lennar Corporation (NYSE:LEN), and Ferrovial SE (OTC:FERVF).
Vinci SA (OTC:VCISF) is a leading construction company, operating across 120 countries. On March 11, the company announced that its railway construction subsidiary, ETF, has won a new railway contract from the SNCF Réseau, a state-owned railway company in France. The contract is worth €700 million. The contract includes renovating more than 800 km of track and ballast across France by 2030. Over 150,000 work hours will be dedicated to the training and professional integration during the program. This contract will add to Vinci SA’s OTC:VCISF) railway construction capabilities
Lennar Corporation (NYSE:LEN) is one of the largest construction companies in the world, providing residential construction services. On March 25, the company announced the grand opening of the highly anticipated Medley Club at Angeline Actvie Adult Amenity Center. The 6,200-acre community is built exclusively for homeowners aged 55 and above in Land O’ Lakes, Florida. The new medley club by Lennar Corporation (NYSE:LEN) is built on an area of 12,029 square feet. It boasts amenities such as a fitness center, yoga studio, cafe, social gathering rooms, and bar.
Ferrovial SE (OTC:FERVF) is a leading construction and infrastructure company. On March 26, the company, in collaboration with Oreco Balgon, announced the completion of the construction of the Halo elevator in Vigo, Spain. The elevator will connect the city’s Areal district with the commercial zone around Vialia Square. It will also improve the mobility of pedestrians in the city by providing a path for crossing the AP-9 highway. The elevator project by Ferrovial SE (OTC:FERVF) cost €15.7 million. The elevator comprises a 36-meter-high concrete tower with two elevators leading to a 190-meter-long walkway. With a capacity of 17 people, the elevator takes 30 seconds to connect the lower and upper parts of the city.
With this context, let’s have a look at the largest construction companies in the world.
A construction team in a mining datacenter building work site with plans and equipment in hand.
Methodology
To create our list of the 20 largest construction companies in the world, we extensively reviewed various rankings on the internet and screened for construction companies by using the Yahoo Finance stock screener to ensure we did not miss any major companies in the global construction market. Then, we collated a list of the 35 largest construction companies. Finally, we ranked the companies in ascending order of their market cap as of March 26, 2024, and their annual revenue for private companies. Please note that we have converted the market cap and revenues of companies in foreign currencies to USD according to their exchange rates, as of March 26.
20 Largest Construction Companies in the World
20. Skanska AB (publ) (OTC:SKBSY)
Market Cap as of March 28: $7.65 billion
Skanska AB (publ) (OTC:SKBSY) is ranked among the largest construction companies in the world. Headquartered in Stockholm, the company specializes in commercial property development, residential development, infrastructure development, civil engineering, and project development. As of March 28, Skanska AB (publ) (OTC:SKBSY) is valued at $7.65 billion.
19. Daito Trust Construction Co., Ltd. (OTC:DIFTY)
Market Cap as of March 28: $7.68 billion
Daito Trust Construction Co., Ltd. (OTC:DIFTY) is a leading construction company in Japan. It specializes in designing and constructing factories, warehouses, apartments, and office buildings. The company operates across multiple business segments, including real estate and construction, among others. As of March 28, Daito Trust Construction Co., Ltd. (OTC:DIFTY) has a market cap of $7.68 billion.
18. HOCHTIEF Aktiengesellschaft (OTC:HOCFF)
Market Cap as of March 28: $8.68 billion
HOCHTIEF Aktiengesellschaft (OTC:HOCFF) is a German construction company, operating across Australia, North America, and Europe. As of March 28, HOCHTIEF Aktiengesellschaft (OTC:HOCFF) has a market cap of $8.68 billion. It is one of the largest construction companies in the world.
17. Obayashi Corporation (OTC:OBYCF)
Market Cap as of March 28: $8.92 billion
Obayashi Corporation (OTC:OBYCF) is a Japanese construction company, engaging in domestic building construction, overseas construction, and real estate, among others. Founded in 1936, the company operates across 16 countries and regions. As of March 28, Obayashi Corporation (OTC:OBYCF) is valued at $8.92 billion.
16. DPR Construction
Annual Revenue (2023): $9.60 billion
DPR Construction is ranked 16th on our list of the largest construction companies in the world. The company is a leading contract and construction manager, engaging in large-scale constructions and projects. The company generated an annual revenue of $9.60 billion in 2023, according to Forbes.
15. Kajima Corporation (OTC:KAJMY)
Market Cap as of March 28: $9.82 billion
Founded in 1861, Kajima Corporation (OTC:KAJMY) is a leading construction company, providing commercial, residential, and institutional construction services. As of March 28, Kajima Corporation (OTC:KAJMY) boasts a market cap of $9.82 billion.
14. Eiffage SA (OTC:EFGSF)
Market Cap as of March 28: $10.95 billion
Eiffage SA (OTC:EFGSF) is ranked 14th on our list. The company operates and engages in business segments, including public-private partnerships, construction, and public works. Its construction services include road construction, industrial construction, building design, infrastructure maintenance, building maintenance, and civil engineering. Eiffage SA (OTC:EFGSF) boasts a market cap of $10.95 billion, as of March 28.
13. ACS Actividades De Construccion Y Servicios ADR (BME:ACS)
Market Cap as of March 28: $12.03 billion
ACS Actividades De Construccion Y Servicios ADR (BME:ACS) is a major construction and engineering services company in Spain. Founded in 1997, the company engages in the development of residential and non-residential buildings, industrial infrastructure, and public space maintenance. As of March 28, ACS Actividades De Construccion Y Servicios ADR (BME:ACS) is valued at $12.03 billion.
12. Toll Brothers, Inc. (NYSE:TOL)
Market Cap as of March 28: $13.48 billion
Toll Brothers, Inc. (NYSE:TOL) is one of the largest construction and home building companies in the US. The company operates across 60 markets in the US and has over 50 years of experience. It engages in operations, including luxury home building, architecture, mortgage, real estate, landscape, and smart home solutions. Toll Brothers, Inc. (NYSE:TOL) has a market cap of $13.48 billion, as of March 28.
11. Kiewit Corporation
Annual Revenue (2023): $13.70 billion
Kiewit Corporation is one of the largest construction companies in the world. The company operates across North America and provides construction and engineering services in sectors such as industrial, mining, chemical, and transportation. In 2023, the company generated $13.70 billion in revenue, according to the Forbes.
10. China Railway Construction (SHA:601186)
Market Cap as of March 28: $14.85 billion
China Railway Construction (SHA:601186) is one of the top construction companies in China, operating across segments including construction, survey, design, and real estate. It engages in the development of infrastructure such as highways, railways, and real estate projects. As of March 28, China Railway Construction (SHA:601186) has a market cap of $14.85 billion.
9. Sekisui House, Ltd. (OTC:SKHSY)
Market Cap as of March 28: $14.87 billion
Headquartered in Japan, Sekisui House, Ltd. (OTC:SKHSY) is ranked 9th on our list. The company offers services such as the construction, sale, purchase, design, remodeling, contracting, and supervision of construction projects. As of March 28, Sekisui House, Ltd. (OTC:SKHSY) is valued at $14.87 billion.
8. Bouygues SA (OTC:BOUYY)
Market Cap as of March 28: $15.30 billion
Bouygues SA (OTC:BOUYY) is a leading construction company in France. The company engages in commercial, residential, and highway construction projects. As of March 28, Bouygues SA (OTC:BOUYY) is valued at $15.30 billion.
7. Daiwa House Industry Co., Ltd. (OTC:DWAHF)
Market Cap as of March 28: $19.39 billion
Daiwa House Industry Co., Ltd. (OTC:DWAHF) is ranked 7th on our list. It is a leading construction and real estate company in Japan. It builds and develops rental housing, commercial and business facilities, condominiums, and houses. As of March 28, Daiwa House Industry Co., Ltd. (OTC:DWAHF) is valued at $19.39 billion.
6. PulteGroup, Inc. (NYSE:PHM)
Market Cap as of March 28: $25.45 billion
PulteGroup, Inc. (NYSE:PHM) is ranked 6th among the largest construction companies in the world. Headquartered in Georgia, the company provides homebuilding, real estate, and construction services. As of March 28, PulteGroup, Inc. (NYSE:PHM) has a market cap of $25.45 billion.
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Disclosure: None. 20 Largest Construction Companies in the World is originally published on Insider Monkey.