Overview and Scope
Buildings construction is the process of building, altering, repairing, improving, or demolishing residential and non-residential buildings or structures using a detailed design and plan.
Sizing and Forecast
The buildings construction market size has grown steadily in recent years. It will grow from <b>$7265.96 billion in 2023 to $7592.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. </b> The growth in the historic period can be attributed to population growth, economic conditions, urbanization, government infrastructure investment, advancements in construction technology, materials, and methods.
The buildings construction market size is expected to see steady growth in the next few years. It will grow to <b>$9180.1 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. </b> The growth in the forecast period can be attributed to sustainability and environmental regulations, digitalization and building information modeling (bim), resilience and disaster mitigation, housing affordability, remote work and office space adaptation. Major trends in the forecast period include prefab and modular construction, wellness-centric buildings, smart buildings, adaptive reuse, circular construction and recycling.
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Segmentation & Regional Insights
The buildings construction market covered in this report is segmented –
1) By Type: Residential Building Construction, Nonresidential Building Construction
2) By Building Type: Smart Buildings, Traditional Buildings
3) By End User Sector: Private, Public
Subsegments Covered: Single-Family Housing Construction (Individual Houses), Multifamily Housing Construction (Apartments), New Housing For-Sale Builders, Residential Remodelers, Institutional Buildings, Commercial Buildings
<b>Asia-Pacific</b> was the largest region in the building construction market in 2023. North America was the second-largest region in the building construction market. The regions covered in the building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The population profile of most countries is becoming older, which is increasing the demand for elderly-friendly infrastructure. For instance, according to World Health Organization (WHO), an specialized government agency, between 2020 to 2050, the number of people with 80 years of age or older is expected to triple and reach to 426 million and by 2050, the number of people aged 60 and over will double to reach 2.1 billion So, the demand for infrastructural improvements that are “elderly” friendly will increase during the forecast period. Houses and the wider surroundings had to be adapted to be made safer and more inclusive. Better residential as well as non-residential buildings had to be made more accessible to the elderly. This resulted in increased building construction activity.
Key Industry Players
Major companies operating in the buildings construction market include <b> China State Construction Engineering Corporation Ltd, China Evergrande Group, Country Garden Holdings Co Ltd, Sunac China Holdings Ltd, Greenland Holding Group, Daiwa House Group, Lennar Corporation, D.R. Horton Inc, Bouygues SA, The Metallurgical Corp of China, China Railway Group Limited, Bechtel, Fluor Corporation, The Whiting-Turner Contracting Company, Emcor Group, Turner Construction, Kiewit Corporation, STO Building Group Inc., AECOM, DPR Construction, Gilbane Building Company, Tutor Perini Corporation, Clark Construction Group LLC, Skanska USA, PCL Construction Enterprises Inc., McCarthy Holdings Inc., Hensel Phelps, Ryan Companies US Inc., Swinerton, Balfour Beatty US, The Boldt Company, JE Dunn Construction Group Inc., The Walsh Group Ltd., Mortenson, The Industrial Company, Webcor Construction, TDIndustries, The Haskell Company, KCI Technologies, Crossland Construction Company, Consigli Building Group Inc.</b>
The buildings construction market report table of contents includes:
1. Executive Summary
2. Buildings Construction Market Characteristics
3. Buildings Construction Product/Service Analysis -Product/Service Examples
4. Buildings Construction Market Trends And Strategies
5. Buildings Construction Market – Macro Economic Scenario
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26. Germany Buildings Construction Market
27. France Buildings Construction Market
28. Italy Buildings Construction Market
29. Spain Buildings Construction Market
30. Austria Buildings Construction Market
Top Major Players:
- China State Construction Engineering Corporation Ltd
- China Evergrande Group
- Country Garden Holdings Co Ltd
- Sunac China Holdings Ltd
- Greenland Holding Group
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