The construction market is expected to reach over $19519.26 billion in 2027 at a CAGR of 6.0%!
Building construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to World Green Building Trends Survey, about 60% of construction firms across the globe were involved in green construction projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled material are being widely used in the UK. Other green construction techniques such as cross-ventilation for more natural environment, green construction software such as Construction Suite to ensure green compliance, and Green Globes management tool are also being used in the construction industry. For instance, some, Major companies using green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps and Holder Construction.
Construction Market Coverage
The construction market consists of sales of construction services and related goods by entities (organizations, sole traders and partnerships) that construct buildings or engineering projects (e.g., highways and utility systems). Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The construction market includes new work, additions, alterations, maintenance, and repairs. The construction market is segmented into buildings construction; heavy and civil engineering construction; specialty trade contractors and land planning and development. Only goods and services traded between entities or sold to end consumers are included.
The Business Research Company covers 81 markets overall in the construction market providing global market numbers, market growth, market-specific drivers and restraints, trends, and other market specific information. The construction market is segmented in the following manner:
- 1. Buildings Construction
The building construction market consists of sales of buildings construction services and related goods by entities (organizations, sole traders and partnerships) that construct buildings. Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The building construction market includes new work, additions, alterations, maintenance, and repairs. The buildings construction market is segmented into residential building construction and non-residential building construction. Only goods and services traded between entities or sold to end consumers are included.
The Buildings Construction Market is sub-segmented into –
- 1.1. Residential Building Construction
- 1.2. Nonresidential Building Construction
- 1.3. 3D Printing Building Construction
- 2. Heavy And Civil Engineering Construction
The heavy and civil engineering construction market consists of sales of heavy and civil engineering construction services and related goods by entities (organizations, sole traders and partnerships) that undertake heavy and civil engineering construction projects (e.g., highways and dams), and by specialty trade contractors, whose primary activity is the production of a specific component for such projects. The work performed may include new work, additions, alterations, or maintenance and repairs. The sales revenues earned from construction projects involving water resources (e.g., dredging and land drainage) and projects involving open space improvement (e.g., parks and trails) are included in this market. Establishments whose primary activity is the subdivision of land into individual building lots usually perform various additional site-improvement activities (e.g., road building and utility line installation) and their sales revenues are included in this market. The heavy and civil engineering construction market is segmented into utility system construction; highway, street, and bridge construction and other heavy and civil engineering construction. Only goods and services traded between entities or sold to end consumers are included.
The Heavy And Civil Engineering Construction Market is sub-segmented into –
- 2.1. Utility System Construction
- 2.2. Highway, Street, And Bridge Construction
- 2.3. Other Heavy And Civil Engineering Construction
- 3. Specialty Trade Contractors
The specialty trade contractors market consists of sales of specialty trade contractors services and related goods by entities (organizations, sole traders and partnerships) that perform specific activities (e.g., pouring concrete, site preparation, plumbing, painting, and electrical work) involved in building construction or other activities that are similar for all types of construction, but that are not responsible for the entire project. The work performed may include new work, additions, alterations, maintenance, and repairs. The production work performed by establishments in this market is usually subcontracted from establishments of the general contractor type or for-sale builders, but especially in remodeling and repair construction work also may be done directly for the owner of the property. Specialty trade contractors usually perform most of their work at the construction site, although they may have shops where they perform prefabrication and other work. The sales revenues of establishments primarily engaged in preparing sites for new construction are also included in this market. The specialty trade contractors market is segmented into foundation, structure, and building exterior contractors; building equipment contractors; building finishing contractors and other specialty trade contractors. Only goods and services traded between entities or sold to end consumers are included.
The Specialty Trade Contractors Market is sub-segmented into –
- 3.1. Foundation, Structure, And Building Exterior Contractors
- 3.2. Building Equipment Contractors
- 3.3. Building Finishing Contractors
- 3.4. Other Specialty Trade Contractors
- 4. Land Planning And Development
The land planning and development market consists of sales of land planning and development services and related goods by entities (organizations, sole traders and partnerships) that service land and subdivide real property into lots, for subsequent sale to builders. Servicing of land may include excavation work for installation of roads and utility lines. The land planning and development market is segmented into residential land planning and development; commercial and institutional land planning and development and industrial land planning and development. Only goods and services traded between entities or sold to end consumers are included.
The Land Planning And Development Market is sub-segmented into –
- 4.1. Residential Land Planning And Development
- 4.2. Commercial And Institutional Land Planning And Development
- 4.3. Industrial Land Planning And Development
How Can We Help?
The Business Research Company`s Construction Market Research Practice provides marketing, planning and strategy departments with a wider range of market, business, customer and competitor intelligence services across different segments of the construction industry. The construction market research services and solutions The Business Research Company provides are as follows —
- Construction Market Sizing, Forecast and Trend Analysis
- Construction Market Competitor Analysis
- Construction Market Supply Chain Analysis
- Construction Market Customer Research
- Construction Market Partner or Distribution Research
- Construction Market Entry Strategy Research Study
- Construction Industry Analysis and Profiling
- Construction Market Regulations
