The world’s population is set to hit almost 10 billion by 2050. This will lead to new homes, schools, offices, shops, government buildings, hospitals, and all kinds of supporting infrastructure.
We will create new towns and cities to support the lives of people across the globe. In fact, the International Energy Agency estimates that the global built floor area will increase by around 20% by the year 2030.
That’s the equivalent of adding the surface area of the city of Paris to the planet every week through 2050.
Yes, you read that correctly: that’s almost 1,400 new cities the size of Paris (in terms of square footage) by 2050.
I see this as a good thing; the world needs better infrastructure and buildings, especially for the burgeoning population. However, for all of this, we will need construction machinery.
The construction industry is already one of the world’s largest economic ecosystems. In fact, one report forecasts that the global construction machine market will grow to €97 billion by 2042.
While construction is good and needed, the sheer size of the sector comes with a heavy environmental toll.