The Office And Factory Buildings by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Office And Factory Buildings, The office and factory buildings market size has grown steadily in recent years. It will grow from $881.87 billion in 2023 to $900.18 billion in 2024 at a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period can be attributed to economic growth, urbanization, infrastructure development, regulatory changes, demographic shifts.
The office and factory buildings market size is expected to see steady growth in the next few years. It will grow to $986.16 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. The growth in the forecast period can be attributed to workplace culture shifts, emerging markets, regulatory reforms, remote work adaptation, sustainability trends.. Major trends in the forecast period include 3d printing in construction, vertical integration, agile work environments, biophilic design, mobility and accessibility.
Rapid industrialization is expected to propel the growth of the office and factory buildings market going forward. Industrialization refers to the process of moving a country’s or region’s economy away from a reliance on agriculture and towards one that is driven by industry. Industrialization increases the need for various office and factory buildings that could make great contributions to housing demand with prefabrication, and modular construction in factories and then assembling them on the job site, which could increase the quality of project implementation and reduce the project time. For instance, in December 2021, according to a report shared by Eurostat, a Luxembourg-based government agency, the production of manufactured goods grew by 8 percent in 2021 compared to 2020. Additionally, in 2021, manufacturing contributed $2.3 trillion to U.S. GDP, amounting to 12.0 percent of the total U.S. GDP. Therefore, rapid industrialization is driving the growth of the office and factory buildings market.
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The office and factory buildings market covered in this report is segmented –
1) By Type: Residential, Non-residential
2) By Construction Type: New Construction, Renovation
3) By Application: Owned, Rental
4) By End User: Private, Public
Technological advancement is a key trend gaining popularity in the office and factory buildings market. Major companies operating in office and 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 commercial 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, infrastructure, 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 office and factory buildings market report table of contents includes:
1. Executive Summary
2. Office And Factory Buildings Market Characteristics
3. Office And Factory Buildings Market Trends And Strategies
4. Office And Factory Buildings Market – Macro Economic Scenario
5. Global Office And Factory Buildings Market Size and Growth
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26. South America Office And Factory Buildings Market
27. Brazil Office And Factory Buildings Market
28. Middle East Office And Factory Buildings Market
29. Africa Office And Factory Buildings Market
30. Office And Factory Buildings Market Competitive Landscape And Company Profiles
Top Major Players:
- Power Construction Corporation of China
- China State Construction Engineering Co. Ltd
- Bouygues Construction
- Lennar Corporation
- Kiewit Building Group Inc
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