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What is the current market size and future outlook for the buildings construction market?
The buildings construction market size has grown steadily in recent years. It will grow from $7502.78 billion in 2024 to $7864.83 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to population growth, economic conditions, urbanization, government infrastructure investment, advancements in construction technology, materials, and methods.
The buildings construction market size is expected to see strong growth in the next few years. It will grow to $9750.27 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to sustainability and environmental regulations, digitalization and building information modeling (bim), resilience and disaster mitigation, housing affordability, remote work and office space adaptation. Major trends in the forecast period include prefab and modular construction, wellness-centric buildings, smart buildings, adaptive reuse, circular construction and recycling.
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How has the buildings construction market evolved, and what factors have shaped its growth?
The population profile of most countries is becoming older, which is increasing the demand for elderly-friendly infrastructure. For instance, according to World Health Organization (WHO), an specialized government agency, between 2020 to 2050, the number of people with 80 years of age or older is expected to triple and reach to 426 million and by 2050, the number of people aged 60 and over will double to reach 2.1 billion So, the demand for infrastructural improvements that are ”elderly” friendly will increase during the forecast period. Houses and the wider surroundings had to be adapted to be made safer and more inclusive. Better residential as well as non-residential buildings had to be made more accessible to the elderly. This resulted in increased building construction activity.
What are the major segments of the buildings construction market?
The buildings construction market covered in this report is segmented –
1) By Type: Residential Building Construction, Nonresidential Building Construction
2) By Building Type: Smart Buildings, Traditional Buildings
3) By End User Sector: Private, Public
Subsegments:
1) By Residential Building Construction: Single-Family Housing Construction, Multi-Family Housing Construction, Manufactured (Mobile) Home Construction, Other Residential Building Construction
2) By Nonresidential Building Construction: Commercial And Institutional Building Construction, Industrial Building Construction, Agricultural Building Construction, Other Nonresidential Building Construction
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Which companies dominate the buildings construction market?
Major companies operating in the buildings construction market include China State Construction Engineering Corporation Ltd, China Evergrande Group, Country Garden Holdings Co Ltd, Sunac China Holdings Ltd, Greenland Holding Group, Daiwa House Group, Lennar Corporation, D.R. Horton Inc, Bouygues SA, The Metallurgical Corp of China, China Railway Group Limited, Bechtel, Fluor Corporation, The Whiting-Turner Contracting Company, Emcor Group, Turner Construction, Kiewit Corporation, STO Building Group Inc., AECOM, DPR Construction, Gilbane Building Company, Tutor Perini Corporation, Clark Construction Group LLC, Skanska USA, PCL Construction Enterprises Inc., McCarthy Holdings Inc., Hensel Phelps, Ryan Companies US Inc., Swinerton, Balfour Beatty US, The Boldt Company, JE Dunn Construction Group Inc., The Walsh Group Ltd., Mortenson, The Industrial Company, Webcor Construction, TDIndustries, The Haskell Company, KCI Technologies, Crossland Construction Company, Consigli Building Group Inc.
How will evolving trends contribute to the growth of the buildings construction market?
Major companies operating in the building construction market are focusing on developing innovative solutions, such as building construction excavators to improve productivity, enhance site safety, and reduce operational costs. Building construction excavators refer to heavy machinery specifically designed for excavation and earthmoving tasks in construction projects. For instance, in September 2024, KOBELCO Construction Machinery Co., Ltd., a Japan-based construction machinery manufacturer, launched the SK80 excavator, designed to enhance productivity and efficiency in construction projects. This new model is equipped with advanced features such as a powerful engine, an improved hydraulic system, and enhanced operator comfort. The SK80 aims to meet the growing demand for compact yet powerful excavators in the Indian market, making it suitable for various applications, including urban construction and infrastructure development.
What are the key regional dynamics of the buildings construction market, and which region leads in market share?
Asia-Pacific was the largest region in the building construction market in 2023. North America was the second-largest region in the building construction market. The regions covered in the building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Buildings Construction Market Report 2025 Offer?
The buildings construction market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Buildings construction is the process of building, altering, repairing, improving, or demolishing residential and non-residential buildings or structures using a detailed design and plan.
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