Overview and Scope
Non-residential construction is the process of building, altering, repairing, improving, or demolishing any non-residential building or structure such as industrial buildings, commercial buildings, buildings for public entertainment.
Sizing and Forecast
The nonresidential building construction market size has grown steadily in recent years. It will grow from $2876.12 billion in 2023 to $2964.59 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rate environment and rapid growth in the elderly population.
The nonresidential building construction market size is expected to see steady growth in the next few years. It will grow to $3377.41 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to rapidly growing urban population, increasing population growth, a rise in disposable income, increasing infrastructure development expenditure by governments and the resumption of work from office post covid-19. Major trends in the forecast period include green construction projects, use of autonomous construction vehicles, a rise in modular construction, use of advanced building materials to improve construction, construction robotics and a rise in 3d construction printing.
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The nonresidential building construction market covered in this report is segmented –
1) By Type: Institutional Buildings, Commercial Buildings
2) By Building Type: Non-Residential Smart Buildings, Traditional Buildings
3) By End-User Sector: Private, Public
Asia-Pacific was the largest region in the non-residential building construction market in 2023. North America was the second-largest region in the non-residential building construction market. The regions covered in the nonresidential building construction 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
A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings during the forecast period. According to the UN World Urbanization Prospects report, globally, it is projected that more than two-thirds (60%) of the world’s population will be living in cities by 2050. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam, and the Philippines, which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, the urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drive the non-residential building construction market during the forecasted period.
Key Industry Players
Major companies operating in the nonresidential building construction market report are China State Construction Engineering Co., Ltd., Shanghai Construction Group Co., Ltd., Hochtief AG, Vinci S.A., Bouygues SA, Greenland Holding Group, Skanska Group, Obayashi Corporation, AECOM, Bechtel Corporation, R.R.Enterprises, Ramky Infrastructure Limited, Katerra India Private Limited, Rain City Industries Pty. Ltd., J.M. Industries Pty. Ltd., Jeshy Building Concepts Pty Ltd, Dixon Construction Limited, F J Ventures Limited, BNP Paribas Fortis, Operateur de Reseaux d’Energies, Deme Offshore Be, CAJOT LORRAINE, SAS AGENCE LORRAINE DE VIABILITE, PJ Hegarty & Sons U.C., Ballast Nedam Groep N.V., Voorbij Funderingstechniek B.V., Vroom Funderingstechnieken B.V., Van Wijnen Arnhem B.V., Dana Holdings, Swietelsky, Habau, Castagner Immobiliare S.R.L., V & R Edilcons Srl, Blueair Instal Srl, Dalmata Business Srl, Quanta Ten Estate Developments Srl, Zentec Construct Srl, Turner Corp, Clark Group, Swinerton, Hensel Phelps, Lendlease, Gilbane Building Co, Battle Lake Design Group, Alberta, Renewed Materials, Inc., Eco Caminhos, Construcciones Planificadas, WTorre Empreendimentos, Line Investments & Property LLC (LIP), Emaar, AF construction, La’ Ala Al-Kuwait Real Estate Co., Gav Yam Land Corporation Ltd., Al Sraiya Holding Group, Al Futtaim Colas, Kharafi National, Baran Group, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI design studio
The nonresidential building construction market report table of contents includes:
1. Executive Summary
2. Nonresidential Building Construction Characteristics
3. Nonresidential Building Construction Trends And Strategies
4. Nonresidential Building Construction – Macro Economic Scenario
5. Global Nonresidential Building Construction Size and Growth
…..
32. Global Nonresidential Building Construction Competitive Benchmarking
33. Global Nonresidential Building Construction Competitive Dashboard
34. Key Mergers And Acquisitions In The Nonresidential Building Construction
35. Nonresidential Building Construction Future Outlook and Potential Analysis
36. Appendix
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