Market Size To Reach $9,180 Billion By 2028

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The buildings construction market has demonstrated steady growth, escalating from $7,265.96 billion in 2023 to an estimated $7,592.74 billion in 2024, exhibiting a notable compound annual growth rate (CAGR) of 4.5%. The buildings construction market is poised for sustained growth, reaching $9,180.1 billion by 2028, with a projected CAGR of 4.9%.

Driving Forces: Catering to Aging Populations and Residential Demand

• Elderly-Friendly Infrastructure: The global shift towards an aging population is generating increased demand for elderly-friendly infrastructure. Anticipated to triple between 2020 and 2050, the population aged 80 or older, along with a doubling of those aged 60 and over by 2050, necessitates infrastructural improvements. Adaptations to residences and surroundings for enhanced safety and inclusivity are propelling building construction activities.

• Residential Project Surge: The rising demand for residential projects is a significant driver for buildings construction market growth. The construction of diverse residential structures, including individual homes, multi-unit complexes, and apartment buildings, is contributing to the market expansion. Despite fluctuations, the total number of new housing units initiated demonstrates sustained activity, reflecting the buildings construction market’s resilience and potential for growth.

Explore the Global Buildings Construction Market with a Detailed Sample Report:

Market Dynamics: Challenges and Innovations
• Building Construction Material Costs: The buildings construction industry faces challenges due to increasing building construction costs driven by rising material prices, particularly for cement and clay products. This upward trend in material costs poses a potential hindrance to the expansion of the building construction market.

• Green Construction Techniques: Building construction companies are increasingly adopting green construction techniques to align with sustainability goals. This includes using sustainable materials and processes for energy-efficient and environmentally friendly buildings. Certifications like Leadership in Energy and Environmental Design (LEED) and the integration of green construction software and tools contribute to the industry’s evolution.

Global Perspectives and Strategic Partnerships
• Global Market Scenario: Asia-Pacific leads the building construction market in 2023, with North America following as the second-largest region. The comprehensive market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

• Strategic Partnerships: Major companies operating in the building construction market are forging strategic partnerships to enhance their capabilities and undertake significant projects. Examples include Skanska AB’s contract for Campus Ulleval in Oslo, Norway, and Bechtel’s joint venture with ENKA to build new motorways in North Macedonia. These partnerships exemplify collaborative efforts for mutual success and business expansion.

Segmentation Insights: Building for Diverse Needs

• Type: The market is segmented into Residential Building Construction and Nonresidential Building Construction.
• Building Type: It includes Smart Buildings and Traditional Buildings.
• End User Sector: Segments encompass Private and Public sectors, with subsegments covering Single-Family Housing Construction, Multifamily Housing Construction, New Housing For-Sale Builders, Residential Remodelers, Institutional Buildings, and Commercial Buildings.

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Buildings Construction Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Buildings Construction Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on buildings construction market size, buildings construction market drivers and trends, buildings construction market major players, competitors’ revenues, market positioning, and buildings construction market growth across geographies. The buildings construction market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Building the Future: The Construction Market