IMARC Group, a leading market research company, has recently releases report titled “Buildings Construction Market Report by Type (Residential, Non-Residential), Construction Type (New Construction, Renovation), End User (Private, Public), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the buildings construction market share. The global buildings construction market size is expected to exhibit a growth rate (CAGR) of 5.13% during 2024-2032.
Factors Affecting the Growth of the Buildings Construction Industry:
- Growing Population:
The rising global population catalyzes the expansion of the construction sector. Additionally, the increasing number of individuals is increasing the demand for residential, commercial, and infrastructural developments. It necessitates the construction of additional housing to accommodate the rising demand for homes, and the expansion of business facilities to support economic activities. Moreover, the surge in population requires the enhancement of public infrastructure, including schools, hospitals, and transportation systems, to maintain societal well-being and economic stability. As urbanization accelerates, especially in emerging economies, the construction industry is developing sustainable, efficient, and affordable projects that can satisfy the numerous needs of a growing populace.
- Technological Advancements:
Technological advancements are significantly reshaping the construction industry, ushering in a new era of efficiency, cost-effectiveness, and speed. Additionally, various innovations in construction technology, such as building information modeling (BIM), drones, and 3D printing, are transforming the way projects are planned, executed, and monitored. BIM facilitates detailed digital representations of physical and functional characteristics of spaces, enabling better decision-making and more efficient project management. Drones offer aerial photography that can assist in site surveys, inspections, and progress monitoring, reducing the time and labor required for these tasks. Besides this, 3D printing technology allows for the rapid prototyping and manufacturing of construction materials and components, potentially reducing waste and enabling the creation of more complex architectural structures.
- Rising Infrastructure Investments:
Government investments in infrastructure projects are stimulating the construction industry. Additionally, infrastructure development, including the construction and renovation of roads, bridges, airports, and utilities, is essential for supporting economic growth, improving connectivity, and enhancing the quality of life. Moreover, various governments are recognizing the importance of infrastructure in driving progress and are therefore allocating significant resources to these projects. It creates immediate demand for construction services and spurs long-term economic development by improving access to markets, reducing transportation costs, and attracting business investments. Additionally, infrastructure projects serve as catalysts for further development in surrounding areas, leading to increased demand for residential and commercial construction across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/buildings-construction-market/requestsample
Leading Companies Operating in the Global Buildings Construction Industry:
- 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
Buildings Construction Market Report Segmentation:
By Type:
- Residential
- Non-residential
Based on the type, the market has been bifurcated into residential and non-residential.
By Construction Type:
- New Construction
- Renovation
On the basis of construction type, the market has been categorized into new construction and renovation.
By End User:
- Private
- Public
Based on the end user, the market has been segmented into private and public.
Regional Insight:
- 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
On the basis of the region, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
Global Buildings Construction Market Trends:
At present, the integration of Internet of Things (IoT) technology into building systems is leading to the emergence of smart buildings. These structures leverage sensors, data analytics, and automation to optimize energy usage, improve occupant comfort, and enhance operational efficiency. Moreover, modular and prefabricated construction methods are gaining popularity due to their ability to reduce construction time and costs which involves assembling building components off-site and then transporting and installing them on-site, leading to faster project delivery.
Besides this, the growing emphasis on environmentally friendly construction practices led to the adoption of green building materials, energy-efficient designs, and sustainable construction techniques, thus contributing to the market growth.
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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