Construction will play a significant role in helping the planet cope with two defining megatrends of the 21st century – ageing populations and climate change – according to Lux Research.
As a result, the seniors' housing market will more than double to $127 billion in 2023 in the G20 nations alone, and building of next-generation sea walls will soar to a $9 billion business, according to Lux Research.
“Ageing populations and rising healthcare costs are spurring innovations in senior housing, while warming oceans and rising sea levels are creating the need for next-generation sea walls and other climate-resilient construction,” Aditya Ranade, Lux Research senior analyst, said.
In his “Future of Construction: Influence of Megatrends” report, Ranade found rising sea levels will require integrated coastal management from cities, notably the building of stronger sea walls and smart levees.
North America and the Asia Pacific will drive this market over the next 10 years, while Europe will catch up after 2023, he said.
