The Business Research Company’s latest report Specialty Trade Contractors Market Report 2020 covers Specialty Trade Contractors market drivers, Specialty Trade Contractors market trends, Specialty Trade Contractors market segments, Specialty Trade Contractors market growth rate, Specialty Trade Contractors market major players, and Specialty Trade Contractors market size. The report provides in-depth analysis of the impact of COVID-19 on the Specialty Trade Contractors industry, along with revised market numbers due to the effects of the coronavirus.
Specialty Trade Contractors Market Report 2020 is the most comprehensive report available on this market and will help gain a truly perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The specialty trade contractors market is expected to decline from $4413.5 billion in 2019 to $4333.2 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $5159.7 billion in 2023.
The specialty trade contractors market is segmented by type into foundation, structure, and building exterior contractors, building equipment contractors, building finishing contractors, other specialty trade contractors, by application into residential building construction, nonresidential building construction, utility system construction, others, by ownership into chained, standalone, by mode into online, offline. Subsegments covered are excavation and demolition, roofing, concrete work, water well drilling, electrical contractors and other wiring installation contractors, plumbing, heating and air-conditioning contractors, other building equipment contractors, drywall and insulation contractors, painting and wall covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors, other building finishing contractors, site preparation contractors, all other specialty trade contractors.
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