The global building equipment contractors market is expected to grow from $2.50 trillion in 2021 to $2.79 trillion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The growth in the building equipment contractors market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The building equipment contractors market is expected to reach $4.17 trillion in 2026 at a CAGR of 10.5%.
What is the Global Building Equipment Contractors Market?
The building equipment contractors market consists of sales of building equipment contractors services and related goods by entities (organizations, sole traders and partnerships) that install or service equipment that forms part of a building’s mechanical system (e.g., electricity, water, heating, and cooling). The work performed may include new work, additions, alterations, maintenance, and repairs.
Get a Sample of the global building equipment contractors market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5460&&type=smp
What drives the Global Building Equipment Contractors Market?
A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings, during the forecast period. According to the UN World Urbanization Prospects report, globally it is projected that more than two-thirds (60%) of the world's population will be living in cities by 2050. For instance, large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drives the building equipment contractors market during the forecasted period.
Get the full global building equipment contractors industry report here
https://www.thebusinessresearchcompany.com/report/building-equipment-contractors-global-market-report
Global Building Equipment Contractors Market Segments
The global building equipment contractor market is segmented:
By Type: Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors
By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Others
By Service Provider: Large Chain Companies, Independent Contractors
By Mode: Online, Offline
By Geography: The regions covered in the building equipment contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Building Equipment Contractors Global Market Report 2022 provides market size and growth forecasts for the global building equipment contractors market, global building equipment contractors market share, building equipment contractors market segments and geographies, building equipment contractors market competitive landscape including leading competitors’ revenues, profiles and market shares. The building equipment contractors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Building Equipment Contractors Industry Players include KONE Corporation, Comfort Systems USA, Inc., Balfour Beatty plc, Fletcher Building Ltd., Vinci SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
