The buildings construction market size is expected to see steady growth in the next few years. It will grow to $9180.1 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. 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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Scope Of Buildings Construction Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Buildings Construction Market Overview
Market Drivers –
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.
Market Trends –
Building construction companies are increasingly using green construction techniques to build energy-efficient buildings and reduce construction costs. Green construction refers to the practise of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. In the UK, certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled materials are being widely used in the UK. Other green construction techniques such as cross-ventilation for a more natural environment, green construction software such as Construction Suite to ensure green compliance, and the Green Globes management tool are also being used in the construction industry. For instance, some major companies using green construction techniques include Turner Construction Co., Clark Group, AECOM, Hensel Phelps, and Holder Construction.
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
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Regional Insights –
Asia-Pacific 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.
Key Companies –
Major companies operating in the buildings construction market include 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.
Table of Contents
1. Executive Summary
2. Buildings Construction Market Report Structure
3. Buildings Construction Market Trends And Strategies
4. Buildings Construction Market – Macro Economic Scenario
5. Buildings Construction Market Size And Growth
…..
27. Buildings Construction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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