The Business Research Company’s report on the Multifamily Housing Construction (Apartments) Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the multifamily housing construction (apartments) market further?
The population growth is expected to propel the growth of the multi-family housing construction(apartments) market. Population growth is the annual average rate of change in population size for a certain nation, territory, or geographic area over a given time period. As there is an increase in population many numbers of people have to be accommodated which increases the multi-family housing construction as well. For instance, in November 2022, according to United Nation, a US-based intergovernmental organization, global population has reached 8 billion, marking a significant milestone in human development. After growing from 7 to 8 billion in 12 years, it is projected to take about 15 years—until 2037—for the population to reach 9 billion. Therefore, the population growth is driving the growth of multi-family housing construction market.
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What are the key factors influencing the forecasted market size of the multifamily housing construction (apartments) industry?
The multifamily housing construction (apartments) market size has grown strongly in recent years. It will grow from $869.46 billion in 2024 to $949.49 billion in 2025 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to demographic trends, economic conditions and urbanization, interest rates and financing, rental market dynamics, social and cultural shifts.
The multifamily housing construction (apartments) market size is expected to see rapid growth in the next few years. It will grow to $1400.32 billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to changing work and living patterns, affordability challenges, sustainable and green building practices, urban redevelopment and mixed-use projects, demographic changes and aging population. Major trends in the forecast period include technology integration in residential spaces, urbanization and mixed-use developments, technology integration in amenities, adaptable and flexible spaces, wellness and health-centric design.
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Who are the leading competitors in the multifamily housing construction (apartments) market?
Major companies operating in the multifamily housing construction (apartments) market include PulteGroup Inc., Turner Construction Company, AECOM Technology Corporation, Greystar Real Estate Partners LLC, Balfour Beatty US, The Whiting-Turner Contracting Company, Skanska USA Inc., Gilbane Building Company, Lendlease Corporation, The Michaels Organization LLC, Clark Construction Group LLC, Lincoln Property Company, JE Dunn Construction Company, Suffolk Construction Company Inc., Alliance Residential Company LLC, The Bozzuto Group, McCarthy Building Companies Inc., Swinerton Incorporated, Ryan Companies US Inc., The Weitz Company, Mortenson Construction, Wood Partners LLC, The Richman Group of Companies, Continental Properties Company Inc., Mill Creek Residential Trust LLC, JPI Companies, Brasfield & Gorrie LLC
Which emerging trends are set to transform the multifamily housing construction (apartments) market landscape?
Sustainability is a key trend gaining popularity in the multi-family housing construction market. Companies operating in the multi-family housing construction market are adopting new technologies to sustain their position in the market. For instance, in November 2023, SilverDoor, a UK-based serviced apartments company, launched carbon calculator specifically designed for the serviced apartment sector. The Carbon Calculator provides per-night CO2 emissions estimates based on specific building data, allowing users to understand the environmental impact of their accommodation choices. Users can compare the carbon emissions of serviced apartments with equivalent hotel stays, utilizing data from the Cornell Hotel Sustainability Benchmarking Index to provide a comprehensive benchmark. Accommodation operators can easily input their emissions data, which the calculator then processes to generate results tailored to different apartment types (e.g., studio, one-bedroom, two-bedroom). The tool leverages a proprietary methodology that considers various factors such as energy consumption, water usage, and laundry management to estimate CO2 emissions accurately.
How do different geographies compare in terms of market share and growth potential in the multifamily housing construction (apartments) market?
North America was the largest region in the multifamily housing construction (apartments) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global multifamily housing construction market(apartments) report during the forecast period. The regions covered in the multifamily housing construction (apartments) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the multifamily housing construction (apartments) market are experiencing the fastest growth?
The multifamily housing construction (apartments) market covered in this report is segmented –
1) By Construction Activity: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Cost Type: Construction Materials, Construction Equipment, Construction Services
3) By Application: Owned, Rental
Subsegments:
1) By New Construction: Ground-Up Construction, Modular Construction, High-Rise Apartments, Low-Rise Apartments
2) By Repair and Maintenance: Routine Maintenance, Emergency Repairs, Preventive Maintenance
3) By Refurbishment and Demolition: Renovation and Remodeling, Structural Upgrades, Demolition of Existing Structures, Site Preparation for New Development
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What defines the structure and scope of the multifamily housing construction (apartments) market?
Multi-family housing is the subcategory of housing that consists of many dwelling units inside the same building or in a complex. It is divided to accommodate more than one family living separately. They can range from a duplex to small homes or apartment buildings.
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