Infrastructure investments in emerging nations could top $43 trillion over the next 15 years according to the world’s second-biggest reinsurer, Swiss Re Ltd. One may not automatically associate an industrial fastener supplier with the growth of emerging nations, but the two are actually very connected. Urbanization in emerging markets is expected to be a major driver in global construction growth through 2025. Many undeveloped nations lack infrastructure such as bridges, roads, power plants, and industrial centers. This is where construction and concrete companies come in to build up these emerging economic markets with the help of investors. And this is also where large scale industrial fasteners come into play.
In America, there are certainly big projects like bridges, tunnels, and power plants. However, the rate at which they are being built is nowhere near as fast and large as in an emerging nation because in America we already have established infrastructure. Across the globe, new nations are expanding economically, driving the demand for housing and urban development. Jeremy Leonard of Global Construction Perspectives & Oxford Economics noted that “Emerging markets will continue to grow significantly more rapidly than the developed world,” which will attract many major construction companies and their need for industrial fasteners for these large-scale projects. For example, according to the Global Construction 2025 report, Qatar is expected to see an average annual construction market growth rate of +10%, which is the fastest out of the 46 key countries surveyed. Coburn-Myers is proud to be a part of infrastructure construction in emerging nations as the global economy continues to grow.