Global Building Finishing Contractors Market Report 2022 – Market Forecast, Trends And Strategies
3 Jan, 2022
The global building finishing contractor market is expected to grow from $1.20 trillion in 2021 to $1.36 trillion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The growth in the building finishing 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 finishing contractors market is expected to reach $2.11 trillion in 2026 at a CAGR of 11.7%.
What is the Global Building Finishing Contractors Market?
The building finishing contractors market consists of sales of building finishing contractors services and related goods by entities (organizations, sole traders and partnerships) that undertake the specialty trades needed to finish buildings. The work performed may include new work, additions, alterations, maintenance, and repairs. Building finishing contractors include drywall and insulation contractors, painting and wall covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors and other building finishing contractors.
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What drives the Global Building Finishing Contractors Market?
The population profile of most countries is becoming older, increasing the demand for elderly-friendly infrastructure. For instance, there were 703 million people worldwide who were 65 or older. The number of elderly people is expected to quadruple to 1.5 billion by 2050. Globally, the proportion of the population aged 65 and up climbed to 9% in 2019. This number is expected to climb to 16% by 2050, implying that one in every six individuals on the planet would be 65 or older. Houses and the wider surroundings had to be adapted to be made safer and more inclusive. Local shops and town centers had to be made more accessible and had to be made accessible to the elderly. Public transport facilities also had to be revised based on the increased demand from the elderly. This will result in increased demand for building finishing contractors activity during the forecast period.
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https://www.thebusinessresearchcompany.com/report/building-finishing-contractors-global-market-reportGlobal Building Finishing Contractors Market Segments
The global building finishing contractors market is segmented:
By Type: Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing 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 finishing contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global building finishing contractor market.
Building Finishing Contractors Global Market Report 2022 provides market size and growth forecasts for the global building finishing contractors market, global building finishing contractors market share, building finishing contractors market segments and geographies, building finishing contractors market competitive landscape including leading competitors’ revenues, profiles and market shares. The building finishing contractors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Building Finishing Contractors Industry Players include Fletcher Building Ltd., NCI Building Systems Inc., and Interserve Plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.