The sales of the 100 largest corporations increased by 3.4 percent compared to 2022 to the equivalent of 1.84 trillion euros, according to a recent report by the consulting firm Deloitte on Monday. In Austria, the sector has been in recession for some time. Nevertheless, the domestic construction companies Strabag and Porr made it into the top 100 once more and even moved up places.
In 2022, the sector grew by 6.3 percent year-on-year. At that time, growth was driven by Chinese construction companies, which were once more mainly responsible for the increase in 2023. Ranks one to six are occupied exclusively by Chinese companies.
The leader is China State Construction Engineering Corp. Ltd with sales of a good 320 billion US dollars. Overall, the People’s Republic is represented by 8 companies in the top 10 and three more in the top 100 ranking. Together, these generated 54 percent of the total industry sales in 2023.
“For more than two decades, China has impressed the world with phenomenal economic dynamism; many experts now speak of a stuttering economic engine. This trend is also noticeable in the Chinese construction industry, as growth rates – following the highs in the past – have remained more or less the same,” commented Gabriele Etzl, Partner and Head of Real Estate at Deloitte Legal, on the development in a press release.
Last year, the European company with the highest sales was the French Vinci Group, which came in 7th place with sales of a good 74.5 billion dollars. The Austrian representatives Strabag and Porr once more ranked among the top 100 construction companies in the world by sales in 2023. Strabag took 20th place (following 21st place in 2022), Porr climbed from 55th to 51st place. “The construction industry in Austria is putting the brakes on. It remains to be hoped that the recently put together economic stimulus package for residential construction will have an effect and be boosted by the construction industry,” says Etzl.
