IMARC Group, a leading market research company, has recently releases report titled “Buildings Construction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global buildings construction market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Buildings Construction
Building construction refers to the process of creating structures in the residential, commercial, or industrial sectors. It involves a series of systematic steps, ranging from planning and design to excavation, foundation laying, framing, and finishing. It includes modern amenities, energy-efficient features, and improved safety standards, leading to an overall enhancement in the quality of life for occupants. It provides essential shelter and accommodation for people, meeting one of their basic needs for housing, which is vital for comfort, safety, and well-being. It builds vital infrastructure like roads, bridges, and utilities, enhancing connectivity and accessibility, which in turn fosters economic activity. It can increase property values, benefiting homeowners and contributing to an enhanced building structure.
How Big Is the Buildings Construction Market?
The global buildings construction market size is expected to exhibit a growth rate (CAGR) of 5.13% during 2024-2032.
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What are the growth prospects and trends in the buildings construction industry?
As the population is growing worldwide, there is an increase in the demand for residential, commercial, and industrial spaces. This demographic expansion is fueling the need for new construction projects to accommodate the growing population. Besides this, rapid urbanization is encouraging people to move to cities in search of better opportunities. Urban areas require infrastructure development, leading to increased construction activities in metropolitan regions.
In addition, innovations in construction technology, such as Building Information Modeling (BIM), prefabrication, and sustainable construction practices, are driving efficiency and cost-effectiveness in building construction. Moreover, environmental awareness is leading to a rise in green building practices and sustainable construction. Governing agencies of several countries are imposing stricter regulations and incentives to encourage eco-friendly construction methods.
They are also allocating significant budgets to improve and expand infrastructure, including roads, bridges, airports, and utilities, which is contributing to the growth of the market. Additionally, changes in building codes, zoning regulations, and safety standards can impact construction practices and may require updates or modifications to existing structures. Furthermore, aging infrastructure in many developed countries necessitates repair and rehabilitation, creating opportunities for construction companies to engage in renovation and maintenance projects.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Residential
- Non-residential
Breakup by Construction Type:
- New Construction
- Renovation
Breakup by End User:
- Private
- Public
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bouygues S.A.
- China State Construction Engineering Corporation
- Daiwa House Industry Co. Ltd.
- Gilbane Inc.
- Hochtief AG (Actividades de Construcción y Servicios S.A.)
- Kiewit Corporation
- Larsen & Toubro Ltd.
- Power Construction Corporation of China
- Shapoorji Pallonji And Company Private Limited
- Skanska AB
- STRABAG International GmbH
- Vinci SA
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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