What Has Driven the Growth of the Retail And Other Commercial Buildings Market in Recent Years?
The retail and other commercial buildings market has seen considerable growth due to a variety of factors.
• The market size for retail and other commercial structures has witnessed a consistent expansion in the past few years. The growth is expected to continue, seeing the market value increase from $414.25 billion in 2024 to $428.23 billion in 2025, with a compound annual growth rate (CAGR) of 3.4%. The rise observed during the historical period is credited to factors such as economic progress and consumer expenditure, urban growth and population concentration, evolving consumer trends and shopping choices, trends in commercial real estate investment, and regulatory policies and zoning laws set by the government.
What Are the Future Growth Projections for the Retail And Other Commercial Buildings Market?
The Retail And Other Commercial Buildings market is expected to maintain its strong growth trajectory in upcoming years.
• Over the course of the next few years, the market size of retail and other commercial buildings is projected to experience consistent expansion. The market is expected to hit a worth of $494.36 billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 3.7%.
The anticipated growth during this forecast period can be ascribed to factors like the integration of e-commerce and omnichannel retail, acceptance of sustainable building procedures and green certification, adjustment to fluctuating work patterns, mixed-use development and urban renewal, as well as health and safety concerns in architectural design. Key trends during this period include a focus on health and safety protocols, rising importance of mixed-use projects, addition of biophilic design features, emphasis on contactless and cashless business, and design influenced by e-commerce trends.
What Are The Core Factors Supporting Growth In The Retail And Other Commercial Buildings Market?
The considerable increase in the retail area is poised to push the evolution of the retail and other commercial structures market in the future. Commercial retail space pertains to areas used for selling merchandise or providing services to consumers, such as shopping plazas, strip malls and stand-alone shops. The growth of major retail organizations like Amazon, Walmart, and Target have instigated high growth in the retail domain. This upturn is predicted to fuel the new construction of retail outlets and similar structures. For example, in July 2022, the Wall Street Journal, a US-based international daily that focuses on business and economy, reported that Amazon expanded its warehouse space substantially to fulfill customer demand. The warehouse space surged from 165 million square feet to a staggering 379 million square feet. Additionally, in 2022, WeWork India, a space-as-a-service platform based in India, leased 3.62 lakh square feet of office space as a part of its plan to expand its flexible workspace. Consequently, the remarkable increase in retail area is boosting the development of the retail and other commercial buildings market.
What Are The Major Segments Within The Global Retail And Other Commercial Buildings Market?
The retail and other commercial buildings market covered in this report is segmented –
1) By Building Type: Smart Buildings, Traditional Buildings
2) By Application: Residential Buildings, Non-Residential Buildings
3) By End-User: Offices, Retail, Leisure, Other End-Users
Subsegments:
1) By Smart Buildings: Energy-Efficient Buildings, IoT-Integrated Buildings, Automated Control Systems, Green Buildings
2) By Traditional Buildings: Conventional Retail Spaces, Office Buildings, Warehouses, Mixed-Use Developments
Pre-Book The Retail And Other Commercial Buildings Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Retail And Other Commercial Buildings Market?
Product innovation is emerging as a significant trend in the retail and other commercial buildings market. Major players in this sector are concentrating on the creation of novel solutions to solidify their market standing. As an illustration, Contruent, a US-based firm delivering capital project management solutions for large-scale constructions, introduced Contruent Enterprise in February 2023. This SaaS-based program enables project owners and those involved in engineering, procurement, and construction to execute projects with greater accuracy and speed. The software enhances the handling of construction projects' timeline and budget with a customizable dashboard. It features elements such as integrated cost and schedule, engineering, contract management, and field administration.
Who Are the Key Players In The Retail And Other Commercial Buildings Market?
Major companies operating in the retail and other commercial buildings market include:
• Kneeland Construction Corporation
• JL Schwieters Construction
• Bechtel Corporation
• Fluor Corporation
• The Whiting-Turner Contracting Company
• Emcor Group Inc.
• Turner Construction Co.
• Gilbane Building Company
• Hensel Phelps Construction Co.
• The Walsh Group
• Balfour Beatty Inc.
• Swinerton Inc.
• McCarthy Building Companies
• Dunn Construction Group Inc.
• Holder Construction Group LLC
• CBRE Group Inc.
• Cushman & Wakefield plc
• Jones Lang LaSalle Incorporated
• Colliers International India Property Services Pvt Ltd.
• Lincoln Property Company
• Hines Interests Limited
• Prologis Inc.
• Newmark Group Inc.
• Kimco Realty Corporation
• Kittle Property Group Inc.
• Houlihan-Parnes Realtors LLC
• Brookfield Properties Pvt. Ltd.
• Robert A.M. Stern Architects LLP
• Elkus Manfredi Architects
• M. Arthur Gensler Jr. & Associates Inc.
• Tishman Speyer Properties L.P.
• Lewis Management Corp.
• Neoscape Inc.
What Is The Most Dominant Region In The Retail And Other Commercial Buildings Market?
Asia-Pacific was the largest region in the retail and other commercial buildings market in 2024. The regions covered in the retail and other commercial buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
