Peoria, Ill. ? Caterpillar Inc. expects its sales and revenue will rise 49 percent this decade as the industry expands and more roads and houses are built to keep pace with an expanding world population.

President and chief executive Glen A. Barton said the heavy-equipment maker’s annual sales and revenues would grow to $30 billion this decade from $20.15 billion in 2002.

“We are taking aggressive steps in the right direction to assure our continued competitive leadership in today’s global marketplace,” Barton told industry analysts gathered Thursday in Arizona. The company issued a news release on his remarks Friday.

Peoria, Ill.-based Caterpillar Inc. expected the construction industry would grow by nearly 30 percent during the next decade.

Caterpillar said U.S. housing was expected to grow by 1.7 million units a year during the next decade.

Despite the forecasts, Caterpillar shares fell 96 cents to close at $70.13 Friday on the New York Stock Exchange.