Transformation of the Global Construction Market and Sustainable Construction Concept

Igor Aleksandrovich Fil'kevich
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Igor Aleksandrovich Fil'kevich: RUDN University, Moscow, Russia

Russian Foreign Economic Journal, 2026, issue 02, 46-55

Abstract: The article examines the structural shift s in the global construction market driven by the concept of sustainable construction. The study analyzes environmental, economic, and institutional factors shaping the industry’s transformation, including increasing decarbonization requirements, the expansion of green finance instruments, and the adoption of international environmental certification standards. Particular attention is paid to the shifting geography of construction activity, the redirection of investment flows toward developing countries in Asia and Africa, and the faster growth of the sustainable infrastructure segment compared to the overall market. Based on statistical data, the paper demonstrates that despite the increasing adoption of energy-efficient technologies and circular economy principles, a significant infrastructure and investment gap persists, hindering progress toward sustainable development goals. The findings indicate the emergence of a new phase in the evolution of the global construction market, where sustainability becomes a key determinant of competitiveness and long-term industry development.

Keywords: sustainable construction; global construction market; sustainable infrastructure; ESG; green finance; decarbonization; urbanization; infrastructure gap (search for similar items in EconPapers)
JEL-codes: F10 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2026_02_46-55

DOI: 10.64545/2072-8042-2026-2-46-55

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