How Has the Buildings Construction Market Size Evolved in Recent Years?
The buildings construction market has seen considerable growth due to a variety of factors.
• The market size for building construction has consistently expanded over recent years. It is projected to increase from $7502.78 billion in 2024 to $7864.83 billion in 2025, with a compound annual growth rate (CAGR) of 4.8%.
Factors such as population growth, changes in economic conditions, urbanization, government spending on infrastructure, and advancements in construction technologies, materials, and techniques have contributed to the growth observed in the past years.
What are the Market Size and Expected Growth Rates for the Buildings Construction Market Size Evolve over the Forecast Period?
The buildings construction market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the building construction market is anticipated to experience robust expansion in the coming years. By 2029, the market will reach a value of $9750.27 billion, with a compound annual growth rate (CAGR) of 5.5%.
The projected growth during this period can be attributed to factors such as sustainable practices, environmental regulations, digital transformation including building information modeling (bim), resilience and disaster mitigation tactics, housing affordability, and the shift towards remote work causing changes in office space usage. Significant trends in this forecast period include the rise of prefab and modular construction, buildings focused on wellness, the emergence of smart buildings, adaptive reuse practices, and the increasing interest in circular construction and recycling.
What Are the Critical Driver Fuelling The Buildings Construction Market's Growth?
The aging demographic across many nations is driving the need for infrastructure that caters to the elderly. World Health Organization (WHO), a recognised governmental entity, predicts a significant rise in the elderly population. From 2020 to 2050, the population of 80-year-olds and above is projected to triple, reaching 426 million. Furthermore, by 2050, it's expected that the number of individuals over 60 years old will double to around 2.1 billion. Consequently, the need for infrastructural enhancements that are convenient for the elderly is likely to surge in the years to come. Safety and inclusivity measures must be incorporated in residential and wider environments. Enabling better access to both residential and non-residential buildings for the elderly has catalysed increased construction activity.
What Are The Key Segments Within The Global 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
Pre-Book The Buildings Construction Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The Buildings Construction Market?
Major firms in the building construction market are turning their attention to the creation of inventive solutions such as excavators for building construction. The aim is to increase productivity, safeguard construction sites, and lower operational expenses. Building construction excavators are heavy-duty machinery designed explicitly for excavation and earth-moving tasks on construction sites. In September 2024, KOBELCO Construction Machinery Co. Ltd, an established construction machinery producer from Japan, unveiled their SK80 excavator, specifically designed to boost productivity and efficiency in construction work. The newly released model boasts advanced features such as a robust engine, an upgraded hydraulic system, and superior operator comfort. The SK80 is designed to respond to the escalating demand for compact yet formidable excavators in the Indian market, rendering it ideal for a range of uses including urban construction and infrastructure expansion.
Who Are the Key Players In 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.
What Are The Regional Insights Into The Buildings Construction Market?
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.
