Buildings Construction Global Market To Reach Value Of About $8751.56 Billion In 2025
4 May, 2021
The building construction market consists of sales of buildings construction services and related goods by entities (organizations, sole traders and partnerships) that construct buildings. Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The building construction market includes new work, additions, alterations, maintenance, and repairs.
Global Buildings Construction Market Size And Drivers:
The global buildings construction market is expected to grow from $5878.86 billion in 2020 to $6454.05 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth 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 market is expected to reach $8751.56 billion in 2025 at a CAGR of 8%.
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Trends In The Global Buildings Construction Market
Building construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to World Green Building Trends Survey 2015, about 51% of construction firms in the UK were involved in green construction projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled material are being widely used in the UK. Other green construction techniques such as cross-ventilation for more natural environment, green construction software such as Construction Suite to ensure green compliance, and Green Globes management tool are also being used in the construction industry.
Global Buildings Construction Market Segments:
The global buildings construction market is further segmented based on type and geography.
By Type: Residential Building Construction, Non-Residential Building Construction
By End User Sector: Private, Public
By Building Type: Smart Buildings, Traditional Buildings
Sub segments covered: Single-Family Housing Construction (Individual Houses), Multifamily Housing Construction (Apartments), New Housing For-Sale Builders, Residential Remodelers, Institutional Buildings, Commercial Buildings
By Geography: The global buildings construction market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific buildings construction market accounts for the largest share in the global buildings construction market.
Read More On The Report For The Global Buildings Construction Market At:https://www.thebusinessresearchcompany.com/report/buildings-construction-global-market-report-2020-30-covid-19-impact-and-recovery
Buildings Construction Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides buildings construction market overviews, analyzes and forecasts market size and growth for the global buildings construction market, buildings construction market share, buildings construction market players, buildings construction market segments and geographies, buildings construction market’s leading competitors’ revenues, profiles and market shares. The buildings construction market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.