Although challenges related to managing the spread of COVID-19 continue to linger worldwide, in most sectors, business practices have adjusted to the "new normal." Some sectors, such as construction, may even be facing a sustained period of growth, according to fresh research from Allianz Global Corporate & Specialty (AGCS). Its new report, "Managing the new age of construction risk," says population growth paired with a housing boom and increased infrastructure investment are all trends contributing to a positive outlook for the construction industry. Global construction output is forecast to be valued at $15 trillion by 2030, according to AGCS. Included in that mix will be an uptick in sustainable building projects, which are predicted to represent $24.7 trillion by 2030, according to AGCS and the International Finance Corporation. AGCS forecasts the world's top construction markets by 2030 to be:

1. China (24%)
2. United States (14%)
3. India (7%)
4. Japan (4%)
5. Indonesia (4%)
6. Australia (3%)
7. Germany (3%)
8. United Kingdom (3%)
9. France (1.8%)
10. Canada (1.7%)

All of this building could translate into increased risks and potential insurance claims for builders, subcontractors, engineers and any other professionals who operate within the construction business. The slideshow above illustrates 10 trends contributing to the potential expansion of construction-industry risks, according to AGCS. See also:

• How to navigate the 2021 construction insurance market
• Construction firms embracing online training, safety data
• Construction constrained: Market dynamics under U.S. infrastructure plan