Global Nonresidential Building Construction Market Size 2024, Forecast To 2033
11 Mar, 2024
The nonresidential building construction market has demonstrated steady growth, increasing from $2876.12 billion in 2023 to $2964.59 billion in 2024, with a compound annual growth rate (CAGR) of 3.1% in the historic period. This growth is attributed to factors such as strong economic growth in emerging markets, a low-interest rate environment, and rapid growth in the elderly population. Projecting forward to 2028, the market is expected to see steady growth, reaching $3377.41 billion at a CAGR of 3.3%. The forecasted growth is driven by factors such as the rapidly growing urban population, increasing population growth, a rise in disposable income, increasing infrastructure development expenditure by governments, and the resumption of work from the office post-COVID-19. Key trends in the forecast period include green construction projects, the use of autonomous construction vehicles, a rise in modular construction, the use of advanced building materials to improve construction, construction robotics, and an increase in 3D construction printing.
Global Nonresidential Building Construction Market Key Driver
The burgeoning urban population worldwide is anticipated to drive the demand for both residential and commercial infrastructure in the coming years. With the UN projecting that over 60% of the global population will reside in urban areas by 2050, regions like Asia, including Indonesia, Vietnam, and the Philippines, are poised for significant growth. South Asia, in particular, is expected to witness a substantial urban population increase, estimated at 250 million by 2030 according to the World Bank. This urbanization trend is set to propel the non-residential building construction market forward. The market size for non-residential building construction was D units in 2023, forecasted to reach E units by 2024, and further expand to F units by 2028.
Get A Free Sample Of The Global Nonresidential Building Construction Market ReportGlobal Nonresidential Building Construction Market Segments
The nonresidential building construction market covered in this report is segmented –
1) By Type: Institutional Buildings, Commercial Buildings
2) By Building Type: Non-Residential Smart Buildings, Traditional Buildings
3) By End-User Sector: Private, Public
By Geography:The regions covered in the nonresidential building construction market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Asia-Pacific was the largest region in the non-residential building construction market in 2023. North America was the second-largest region in the non-residential building construction market. The regions covered in the nonresidential building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Nonresidential Building Construction Industry Players
China State Construction Engineering Co., Ltd., Shanghai Construction Group Co., Ltd., Hochtief AG, Vinci S.A., Bouygues SA, Greenland Holding Group, Skanska Group, Obayashi Corporation, AECOM, Bechtel Corporation, R.R.Enterprises, Ramky Infrastructure Limited, Katerra India Private Limited, Rain City Industries Pty. Ltd., J.M. Industries Pty. Ltd., Jeshy Building Concepts Pty Ltd, Dixon Construction Limited, F J Ventures Limited, BNP Paribas Fortis, Operateur de Reseaux d'Energies, Deme Offshore Be, CAJOT LORRAINE, SAS AGENCE LORRAINE DE VIABILITE, PJ Hegarty & Sons U.C., Ballast Nedam Groep N.V., Voorbij Funderingstechniek B.V., Vroom Funderingstechnieken B.V., Van Wijnen Arnhem B.V., Dana Holdings, Swietelsky, Habau, Castagner Immobiliare S.R.L., V & R Edilcons Srl, Blueair Instal Srl, Dalmata Business Srl, Quanta Ten Estate Developments Srl, Zentec Construct Srl, Turner Corp, Clark Group, Swinerton, Hensel Phelps, Lendlease, Gilbane Building Co, Battle Lake Design Group, Alberta, Renewed Materials, Inc., Eco Caminhos, Construcciones Planificadas, WTorre Empreendimentos, Line Investments & Property LLC (LIP), Emaar, AF construction, La’ Ala Al-Kuwait Real Estate Co., Gav Yam Land Corporation Ltd., Al Sraiya Holding Group, Al Futtaim Colas, Kharafi National, Baran Group, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI design studio
Get The Full Global Nonresidential Building Construction Market Report
Nonresidential Building Construction Market Overview
Non-residential construction is the process of building, altering, repairing, improving, or demolishing any non-residential building or structure such as industrial buildings, commercial buildings, buildings for public entertainment.
Nonresidential Building Construction Global Market Report 2023 provides data on the global nonresidential building construction market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The nonresidential building construction market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.