Overview and Scope
A factory building is a place where products are manufactured and put together. These industrial buildings are defined with less than 20% office area structures, available truck loading docks, and at least 10 feet of clear height. It is a single-story building with heavy manufacturing and light assembly production facilities. They feature larger overhead rooms for a given amount of floor space.
Sizing and Forecast
The factory buildings market size has grown steadily in recent years. It will grow from $300.98 billion in 2023 to $308.38 billion in 2024 at a compound annual growth rate (CAGR) of 2.5%. The growth in the historic period can be attributed to industrialization and economic growth, government policies and incentives, supply chain optimization, labor availability and costs, market demand for products..
The factory buildings market size is expected to see steady growth in the next few years. It will grow to $342.68 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to global manufacturing trends, sustainable construction practices, advanced manufacturing technologies, e-commerce growth, resilience and risk mitigation.. Major trends in the forecast period include integration of robotics and automation, customization for diverse manufacturing needs, energy-efficient building systems, advanced materials and construction techniques, globalization and regionalization strategies..
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Segmentation & Regional Insights
The factory buildings market covered in this report is segmented –
1) By Type: Residential, Non-residential
2) By Material: Aggregates, Bricks, Cement
3) By Construction Type: New Construction, Renovation
4) By Application: Owned, Rental
5) By End User: Private, Public
Asia-Pacific was the largest region in the factory buildings market in 2023. The regions covered in the factory buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing government expenditures for infrastructural development are expected to propel the growth of the factory buildings market going forward. The government allots funds to infrastructure development which is meant to increase the level of investment in the country and possibly economic growth. The factory buildings are industrial construction which is a part of infrastructural development. Hence, the increasing government expenditures for infrastructural development will raise the demand for factory buildings. For instance, in January 2022, according to a press release published by State Council of the People’s Republic of China, the China’s fixed-asset investment up 4.9% in 2021. The investment in the primary, secondary, and tertiary sectors grew last year from the 2020 level by 9.1%, 11.3%, and 2.1% respectively. Therefore, the increase in government expenditure for infrastructural development is driving the growth of the factory buildings market.
Key Industry Players
Major companies operating in factory buildings are focused on developing innovative solutions to strengthen their position in the market. For instance, in February 2022., Black Buffalo 3D Corporation, a US-based, construction equipment supplier company, launched its technological product, NEXCON 1G 3D construction printer, which specializes in single- to three-story residential and non-residential applications, with the ability to print up to three stories depending on roof design. This technology is a stronger, more sustainable, and cost-effective way to build affordable housing projects, infrastructure projects like factories, and much more. Additionally, this technology gives builders a 70 percent reduction in materials costs, almost zero waste, and up to an 80 percent reduction in labor costs and build time.
The factory buildings market report table of contents includes:
1. Executive Summary
2. Factory Buildings Market Characteristics
3. Factory Buildings Market Trends And Strategies
4. Factory Buildings Market – Macro Economic Scenario
5. Global Factory Buildings Market Size and Growth
…
31. Global Factory Buildings Market Competitive Benchmarking
32. Global Factory Buildings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Factory Buildings Market
34. Factory Buildings Market Future Outlook and Potential Analysis
35. Appendix
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