The global building inspection services market is currently valued at US$ 9.4 billion. During the forecast period of 2022-2032, demand for building inspection services is expected to increase briskly at a CAGR of 6.9% and reach a market size of US$ 18.2 billion by the end of 2032.
The building inspection services market refers to the industry involved in the provision of professional inspection services for buildings and structures. Building inspections are conducted to assess the condition, safety, and compliance of buildings with relevant codes, regulations, and standards.
Building inspection services are typically carried out by qualified and experienced professionals, such as building inspectors or structural engineers. These professionals inspect various aspects of a building, including its structural integrity, electrical systems, plumbing, HVAC (heating, ventilation, and air conditioning) systems, fire safety measures, and overall safety and accessibility.
The market for building inspection services is driven by several factors:
- Regulatory requirements: Building inspections are often mandated by local building codes and regulations to ensure that buildings are safe, comply with construction standards, and meet specific requirements related to occupancy and usage. Regulatory compliance drives the demand for building inspection services.
- Real estate transactions: Building inspections are commonly performed during the buying and selling of properties to assess their condition and identify any potential issues or defects. Homebuyers and real estate investors often rely on building inspection reports to make informed decisions, which contributes to the demand for inspection services.
- Building maintenance and safety: Regular inspections are essential for maintaining the safety, functionality, and longevity of buildings. Property owners, managers, and tenants utilize building inspection services to identify maintenance needs, detect safety hazards, and ensure compliance with building codes.
- Construction industry: Building inspections are integral to the construction process, ensuring that new construction or renovation projects meet structural and safety standards. Inspections are conducted at various stages of construction to monitor compliance, identify potential issues, and facilitate project progress.
- Increasing focus on sustainability and energy efficiency: With growing environmental concerns, there is a rising emphasis on sustainable and energy-efficient buildings. Building inspection services may include assessments of energy efficiency measures, such as insulation, lighting, and HVAC systems, to identify areas for improvement and promote sustainable building practices.
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Key findings of the Building Inspection Services market study:
- The report provides a present market outlook on Building Inspection Services. Additionally, the Building Inspection Services market share is anticipated to grow with a CAGR of 6.9% in the forecast period.
- Regional breakdown of the Building Inspection Services market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Building Inspection Services vendors in detail.
- Region-wise and country-wise fragmentation of the Building Inspection Services market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Building Inspection Services market.
- Building Inspection Services price, market share, and Trends forecast for assessment period 2022-2032
Why is Demand for Building Inspection Services High in the United States?
Over the projection period of 2022–2032, the market for building inspection services in the United States is anticipated to grow at a CAGR of 6.9%. The expansion of the market is being driven by an increase in infrastructure construction in the United States. Building inspection services are anticipated to grow in popularity as infrastructure development accelerates in order to guarantee that the structures are secure for human habitation.
Every year, the United States invests around 2.3% of its GDP in infrastructure development. In the upcoming years, market growth is anticipated to be stimulated by the government’s rigorous regulations governing the timely completion of building inspections in the nation. In order to safeguard the health and safety of New Jersey residents, the state’s municipalities and the Division of Codes and Standards
Competitive landscape analysis
Due to the existence of several service providers, the worldwide market for building inspection services is extremely fragmented. Because of the fierce rivalry among market competitors, they are turning to various techniques, such mergers and acquisitions, to remain competitive.
For illustration:
- A testing and inspection business with a basis in Spain, Applus+, purchased the Saudi Arabia-based SAFCO Group in December 2020. The goal of the purchase is to broaden its service offering in the Middle Eastern area.
- In order to provide homeowners with the necessary protection services, Cingo, a Dublin-based house inspection business, joined with The Cornerstone Inspection Group in April 2019.
Some of the leading companies operating in the market are :
- A Buyer’s Choice Home Inspections
- Allied Building Inspection Services
- Amerispec Inspection Services
- BPG
- BrickKicker
- Building Inspection Service, Inc.
- Elite Group Inspections
- HM Services, LLC
- Hometeam Inspection Service
- Landmark Inspections
- National Property Inspections, Inc
- Next Day Inspect
- Pillar To Post
- US Inspect Group, Inc.
- Water Intelligence
- World Inspection Network International LLC
- The Real Estate Inspection Company
What insights does the Building Inspection Services report provide to the readers?
- Building Inspection Services fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Building Inspection Services
- Various regulations imposed by the governments on the consumption of Building Inspection Services in detail.
Segmentation of Building Inspection Services Industry Research
· By Service :
- Residential Inspection
- Pre-Listing Inspection
- Builder’s Warranty Inspection
- New Construction Inspection
- Pre-Closing Inspection
- Commercial Inspection
- Commercial Draw Inspections
- Retail or Office Space Inspection
- Special Purpose Facilities (Gym, Theatres, Hospitals) Inspection
- Others (not covered elsewhere)
- Specialty Inspection
- Sewer and Septic System Inspection
- Roof Inspection
- Lawn Irrigation Inspection
- Property Preservation Inspection
- Yearly maintenance Inspection
- Others (not covered elsewhere)
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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