Nonresidential Building Construction Global Market Sees Growth Rate Of 12% Through 2022

The global non-residential building construction market size is expected to grow from $2.67 trillion in 2021 to $2.99 trillion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The growth in the non-residential building construction 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 non-residential building construction market is expected to reach $4.48 trillion in 2026 at a CAGR of 10.7%.

What is the Global Nonresidential Building Construction Market?

The non-residential building construction market consists of sales of nonresidential building construction services and related goods by entities (organizations, sole traders and partnerships) that construct non-residential buildings (including new work, additions, alterations, maintenance, and repairs). The establishments in this market include non-residential general contractors, non-residential for-sale builders, non-residential design-build firms, and non-residential project construction management firms. The non-residential building market includes new work, additions, alterations, maintenance, and repairs.

Get a Sample of the global nonresidential building construction market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5477&&type=smp

What drives the Global Nonresidential Building Construction 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. 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 drive the non-residential building construction market during the forecasted period.

Get the full global nonresidential building construction industry report here:

Global Nonresidential Building Construction Market Segments
The global nonresidential building construction market is segmented:
By Type: Institutional Buildings, Commercial Buildings
By End User Sector: Private, Public
By Building Type: Non- Residential Smart Buildings, Traditional Buildings
By Geography: The regions covered in the nonresidential building construction 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 nonresidential building construction market.

Nonresidential Building Construction Global Market Report 2022provides market size and growth forecasts for the global nonresidential building construction market, global nonresidential building construction market share, nonresidential building construction market segments and geographies, nonresidential building construction market competitive landscape including leading competitors’ revenues, profiles and market shares. The nonresidential building construction market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Nonresidential Building Construction Industry Playersinclude Shanghai Construction Group Co., Ltd., Bouygues SA, Greenland Holding Group, Obayashi Corporation, and Daiwa House Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.