- The construction sector can be broadly classified into five categories: Commercial, Industrial, Infrastructure, Institutional and Residential.
- The reasons for this growth can be attributed to various macroeconomic factors conducive to the construction sector.Key Macroeconomic Trends Driving Growth in UAE Industrial Construction SectorUAE is one of the most diversified economies in the Gulf region.
- Looking at the Middle East, UAE can be seen as one of the fastest growing economy, with its construction industry ranked third among the construction industries of the Middle East countries.
- The construction industry is third largest economic activity after oil and trade, in the UAE, including approximately 6000 companies with most of the construction activities taking place in Abu Dhabi and Dubai.
- The industry’s output value in real terms is forecast to rise at a CAGR of 6.52% in the next five years period; up from 3.55% during the period 2010-2014.The promising future of the construction industry can be seen by observing its past trend.
Mortenson Construction Enters Energy Storage Market
- Mortenson Construction, a recognized leader in energy and transmission infrastructure in North America, today announced it is entering the energy storage market.
- The company will serve various roles in the engineering, construction and integration of energy storage systems interconnected to local energy grids and behind-the-meter commercial applications.
- Driving this activity is increasing renewable energy generation, supportive policies and regulations, and growth of smart grids and energy infrastructure.
- About Mortenson
Founded in 1954, Mortenson is a U.S.-based, family-owned construction and development services company.
- Storage systems can provide near instantaneous injections of power to facilities and infrastructure without the inefficiencies of bringing additional power generation online.