According to the report published by Allied Market Research, the global building construction market size generated $5,412.80 billion in 2021 and is estimated to hit $11,121.90 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Covid-19 scenario-
- The Covid-19 outbreak impacted the global building construction market negatively.
- Activities regarding manufacturing of various construction materials were halted or restricted. Construction and transportation activities along with their supply chains were hampered on a global level. This led to a decline in manufacturing of construction materials, thereby leading to reduced demand in the market.
- Conversely, industries across the world are gradually resuming their regular manufacturing operations and the market is getting back to normalcy.
The report offers detailed segmentation of the global building construction market based on type, construction type, application, end user and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the residential segment accounted for more than half of the total market share in 2021, and is projected to rule the roost by the end of 2031. The same segment would also cite the fastest CAGR of 7.8% throughout the forecast period. The other type discussed in the report is non-residential.
Based on construction type, the new construction segment contributed to more than two-thirds of the total market revenue in 2021, and is expected to lead the trail by 2031. The renovation segment, on the other hand, would grow at the fastest CAGR of 8.2% from 2022 to 2031.
Based on application, the rental segment contributed to more than half of the total market share in 2021, and is expected to lead the trail through 2031. Moreover, the same segment would grow at the fastest CAGR of 7.7% from 2022 to 2031. The report also discusses the owned segment under application.
Based on end user, the private segment captured the largest share of more than two-thirds of the global market in 2021, and is likely to maintain its dominancy through the forecast period. The same segment would also grow at the fastest CAGR of 7.7% from 2022 to 2031. The report also discusses the public segment under the end user section.
Based on region, the market across Asia-Pacific contributed to nearly half of the total market share in 2021, and is expected to maintain a noteworthy growth during the forecast period. The LAMEA, on the other hand, would grow at the fastest CAGR of 8.5% from 2022 to 2031. The other two provinces discussed in the report include Europe and North America.
Top Players:
The key market players analyzed in the global building construction market report include ACS, Actividades De Construction Services, Bouygues SA, China Evergrande Group, China State Construction Engineering Corporation Ltd., Country Garden Holdings Co. Ltd., Daiwa House Group, D.R. Horton Inc., Fluor Corporation, Greenland Holding Group, HOCHTIEF, Lennar Corporation, Power Construction Corp of China, Skanska, Sunac China Holdings Ltd., The Metallurgical Corp of China, and VINCI.
The report analyzes these key players of the global building construction market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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