5 Biggest Industries in the World in 2021

2. Construction

Market value: $12.5 trillion

Ranking 2nd on the list of the 10 biggest industries in the world in 2021 is the construction sector. The construction industry accounts for approximately 13% of the world’s GDP. It serves the world by building houses, schools, malls, mills, factories, roads, and infrastructures. Although the construction industry is worth trillions of dollars, the sector has grown only 1% in the last 20 years. The construction industry has faced challenges in 2020 mainly due to the temporary halt of manufacturing facilities for construction materials. But the industry is to come back bigger and stronger with nations pushing for zero-net emissions by 2050. Biden’s $2 trillion initiative to develop carbon-free power production by 2035 is one of the industry’s growth drivers.

D.R. Horton, one of the largest homebuilders in the United States, thrived through the pandemic, as demand remained high despite a small supply of affordable homes. D.R. Horton Inc made a net sales of $6.4 billion building 20,418 homes in the first quarter of 2021. Shares of D.R. Horton Inc (NYSE: DHI) increased by 189.8% over the past twelve months.

Lennar Corp (NYSE: LEN) is also a leading US-based house construction company. The Miami-based construction company built over 52,000 homes in 2020 making a total revenue of $22.5 billion. Shares of LEN increased by 226.5% over the past twelve months.

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