The international construction company has been boasting magnanimous projects in the past years. From skyscrapers to bridges, stadiums, modern structures, and unique landmarks, the biggest construction companies across the globe are continuously changing the environment in every country they’re working at. And now, we’re going to learn who these construction giants are and find out a bit about how they made it big in this saturated industry.
The construction industry keeps on growing every year despite the shortage in labor. The demand for new projects across the globe is still high despite the health crisis we faced in the past months. That means the industry stays strong and the IMF projects the global construction to grow by 3.3% this year and 3.4% in 2021.
Thanks to technology, the industry is able to survive whatever challenges it is facing. Automation for instance is filling up the labor shortage. Through construction project management software, it is able to successfully streamline processes that took long to finish like reporting issues from the site to the office as well as progress. Through BIM, companies are able to identify and correct mistakes in the plan and design even before the construction begins.
Overall, innovation has made it possible for construction companies to grow and make their work better. So if there’s one common secret that these top 10 construction companies have, that will have to be the technology that they use.
The Impact of the Biggest Construction Companies
Construction is one of the oldest industries that still exist up to this modern age. Unlike others that died as the world develops, construction keeps on becoming bigger and bigger. In fact, the global construction market is projected to grow to a $8 trillion industry by 2030.
That said, construction companies are one of the biggest contributors in our global economy. In the United States alone, the construction industry already recorded $1.32 trillion in spending in 2018. That makes the country one of the biggest construction players globally next to Europe and China.
Top 10 Biggest Construction Companies in the World
As we mentioned earlier, the biggest construction companies bringing change to our landscape can be found in the European continent and China and some are in the Middle East. With their continuously growing economy and population, it’s no wonder why new construction projects in these areas are so in demand.
So today, we listed down 10 of the highest grossing construction companies across the globe.
The China Communications Construction is currently the world’s biggest construction company which has a gross total revenue of $70 billion. It was just founded in 2005 and is based in Beijing, China. Among its projects, the Yangtze River Highway is probably its most prominent construction.
This publicly-traded construction firm is focusing on bigger projects like infrastructures and other related assets. They handle almost every phase in construction from design to development, and construction of infrastructures. Furthermore China Communications Construction is also taking part in dredging and the manufacture of heavy machinery. And apart from doing construction, Communications Construction Group also invests in other infrastructure projects carried out around the world.
Vinci SA is among the oldest construction companies in this list so it’s no wonder why it’s considered to be one of the biggest players in the construction scene. Its latest revenue recorded is $48.6 billion and among its crowning jewel is the Louvre Entrance. This France-based company was originally founded as Société Générale d’Enterprises in 1898. As it grew to a construction giant, it bought other smaller construction companies and it became Vinci SA.
At present, the company is focused on delivering services that address global issues usually on waste reduction, climate change, and energy efficiency. So, expect to see more sustainable buildings in the future under their name.
Another young company from China has made it big in just 9 years of operation. How did they do it? Their strong focus on the pre-construction phase of hydropower structures is the key. Its current revenue already reached $45.6 billion because of the big projects they are doing. Among their biggest accomplishments is the Adama Wind Farm.
Otherwise known as “PowerChina,” this firm is taking over the survey, design and contracting of hydraulic and water conservation projects. They are responsible for 80% of China’s major hydropower infrastructures. And in just a few years after it was founded in 2011, it has already been able to build over 200 large and medium-sized hydropower projects in China and other countries like Africa where the Adama Wind Farm is situated.
Falling a bit behind the PowerChina is the ACS Actividades de Construction of Spain. It opened its doors in 1997 and for over a decade of operation, it has already built numerous inspiring structures and Torre Glòries is one of them.
This Spanish construction company is heavily engaged in civil and engineering construction. They also provide telecommunications and infrastructure management services.
This company has a strong global presence. Its business is divided in two segments: Construction operations and Industrial Services.
Another company from the European continent is the Bouygues. Its current revenue is t $36.7 billion, which is a bit humble for a 1952-established company. But despite being surpassed by younger companies, Bouygues has already proven its excellence in the field and the Musée d’Orsay is just one of their many projects that will prove that.
This multinational company Bouygues Group has its construction services handled by Bouygues Construction and the Colas Group. And despite being “old” it never sticks to traditional methods and keeps embracing new innovations like 3D printing technology to speed up their construction process and to trim down costs. This is probably their biggest secret to their never ending success – going with the flow and embracing new builders trends.
This Chinese construction company is worth $28.49 billion yet it was founded in 1957. Its most prestigious project so far is the Shanghai World Financial Center.
China State Construction is an ambitious company and it’s poised to build the largest structure in Africa. They are also currently working with the Egyptian authorities to build a new capital that’s expected to fix the overcrowding problem in Cairo.
The massive company is focused on building and designing municipal structures, infrastructures, and real estate development so their operation is quite wide too.
- Hochtief Aktiengesellschaft
Hitting a revenue of $25.2 billion, this German company that’s already 146 years old is at the seventh spot of this greatest construction company list for so many reasons. Apart from taking over the main construction operation, Hochtief also offers construction-related services including airport management and operation of infrastructures as well as financing.
The company is so massive that it is currently operating in over 60 countries!
Hochtief patronizes sustainable construction as it views it as a smart business move. It also believes that applying eco-friendly strategies is the future of construction.
This Swedish construction company is making a revenue of $18.15 billion. It started its operation in 1887 and its most popular project so far is the MetLife Stadium.
Skanska focuses on providing construction services to the Commercial Property Development and Residential Development sector in the Nordic Region and other parts of Europe, as well as the United States. In fact, it has a branch in New York City and employs over 9,000 people.
This construction company places high importance on sustainable designs and is heavily involved in constructing public amenities in Harbor Way using sustainable principles. They aim to make Boston’s Watermark Seaport popular across the globe.
Based in Vienna, Austria, Strabag is making a revenue of $15 billion. And what’s more inspiring about this company is that it began operation in 1835 and is still around today. With over a century of building nations, there’s surely something in them that made them last long and great.
They are the maker of the Weser Lighthouse and other popular structures in Austria. They now have over 73,000 people employed in the company and are currently operating in over 700 different locations. Apart from their efforts in Austria, they are also involved in building new fire stations in Belgium.
The youngest in the list, TechnipFMC, was founded just in 2017 but it is already making a revenue of $13 billion! It grew so rapidly that it now has over 37,000 people employed. And if you know FPSO Dalia, they are the team behind it.
This UK-based construction company not only provides construction services but also ensures its clients of a lifelong commitment by offering life cycle services most especially to their clients in the energy industries.
Currently, the company’s operations are divided into three segments: Offshore, Onshore, and Surface Technologies. Their focus is on efficiency and innovation, embracing new builders trends that helps enhance their quality assurance and overall operation.
Traits That Makes a Great Construction Company
The companies we listed above aren’t great for no reason. They have a solid operational procedure, organized construction crew management,and technology that helped them succeed.
What else makes them great?
- These leading construction companies start with a vision and focus on realizing them with their procedures. They dream big and find ways to achieve them.
- After defining their vision, they quantify their expectations per department and project.
- Then they come up with an organized organizational chart. Without a clear structure of the team and list of accountability, crew members will keep on waiting for instructions on what to do next or what not to do yet. This limits their growth and efficiency.
- They embrace technology. Streamlining processes to cut down time is important in this fast paced industry. To grow, a company needs to hone its team from experience and taking a lot of projects is what can enhance their skills and knowledge. Thanks to innovations like BIM, construction project management software like Pro Crew Schedule, AR, AI, robotics, and other technologies designed for the industry, these companies, no matter how old, are able to withstand challenges and remain to have an edge over their competitors.
- And speaking of having an edge over the others, the companies listed above have obviously set themselves apart from the competition. Through technology, unique offers, clear procedures, and impressive results, they were able to win more projects that helped them hit the revenue they’re making right now.
These construction companies did not just grow over night. They reach the top of the hill due to their business integrity and high-standards in every aspect of their projects. And for others who want to be in the list of the greatest construction companies too, It’s not too late to be great. You have to make decisions that will define your future and deliver results that will make clients recognize you above others.