Global construction seen up 70 pct by 2020-report

* Global market estimated to be worth $12.7 trln by 2020

* Construction in emerging markets to rise 110 pct * China to lead construction market by 2018

* Western Europe one of lowest-growth regions

By Lorraine Turner

LONDON, Nov 12 (Reuters) - Global Constuction output will recover to grow 70 percent by 2020, powered by emerging nations such as China and India, according to a new report published on Thursday.

China is set to overtake the United States as the largest construction market by 2018, in spite of the U.S. economy showing its first signs of growth in more than a year, and North America set to be the highest-growth region in construction amongst developed countries. [ID:nN29354547]

The global construction market is estimated to be worth $12.7 trillion by 2020, with emerging countries, particularly in Asia, dominating output and more than doubling their share of the market to $7 trillion, said the report.

This comes after one of the sharpest downturns in the sector in the wake of the global recession. Output has plummetted $650 billion per year since 2007 in developed countries.