The Retail And Other Commercial Buildings by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Retail And Other Commercial Buildings, The retail and other commercial buildings market size has grown steadily in recent years. It will grow from $409.69 billion in 2023 to $422.45 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to economic growth and consumer spending, urbanization and population density, consumer trends and shopping preferences, commercial real estate investment trends, government policies and zoning regulations.
The retail and other commercial buildings market size is expected to see steady growth in the next few years. It will grow to $481.01 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to e-commerce integration and omnichannel retail, sustainable building practices and green certification, adaptation to changing work patterns, mixed-use developments and urban revitalization, health and safety considerations in building design.. Major trends in the forecast period include focus on health and safety measures, popularity of mixed-use developments, incorporation of biophilic design elements, contactless and cashless transactions, e-commerce influenced design
The strong growth in retail space is expected to propel the development of the retail and other commercial buildings market going forward. Retail space is commercial space for selling goods or services to customers, such as shopping centers, strip malls, and stand-alone stores. The expansion of major retailers such as Amazon, Walmart, and Target has driven strong growth in the retail space. This growth will drive new construction of retails and other such structures construction. For instance, in July 2022, according to the Wall Street Journal, a US-based business and economic-focused international daily newspaper, Amazon, a US-based e-commerce company accelerated the expansion of its warehouse space to meet consumer demand. The warehouse space increased from 165 million square feet to 379 million square feet. Furthermore, in 2022, WeWork India, an India-based space-as-a-service platform, taken 3.62 lakh square feet lease of office space as part of its expansion plan for flexible workspace. Therefore, the strong growth in retail space is driving the growth of the retail and other commercial buildings market.
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The retail and other commercial buildings market covered in this report is segmented –
1) By Building Type: Smart Buildings, Traditional Buildings
2) By Application: Residential Buildings, Non-Residential Buildings
3) By End-User: Offices, Retail, Leisure, Other End-Users
Product innovation is a key trend gaining popularity in the retail and other commercial buildings market. Major companies operating in the retail and other commercial buildings market are focused on developing innovative solutions to strengthen their position in the market. For instance, in February 2023, Contruent, a US-based capital project management solution company for large construction projects, launched Contruent Enterprise, a SaaS-based solution that empowers owners and engineering, procurement, and construction to complete projects quickly and more precisely. The software improves scheduling and budget management of the construction projects with a customizable dashboard and other components such as integrated cost and schedule, engineering, contract management, and field management.
The retail and other commercial buildings market report table of contents includes:
1. Executive Summary
2. Retail And Other Commercial Buildings Market Characteristics
3. Retail And Other Commercial Buildings Market Trends And Strategies
4. Retail And Other Commercial Buildings Market – Macro Economic Scenario
5. Global Retail And Other Commercial Buildings Market Size and Growth
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26. South America Retail And Other Commercial Buildings Market
27. Brazil Retail And Other Commercial Buildings Market
28. Middle East Retail And Other Commercial Buildings Market
29. Africa Retail And Other Commercial Buildings Market
30. Retail And Other Commercial Buildings Market Competitive Landscape And Company Profiles
Top Major Players:
- Kneeland Construction Corporation
- JL Schwieters Construction
- Bechtel Corporation
- Fluor Corporation
- The Whiting-Turner Contracting Company
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