Buildings Construction Market Global Briefing 2018

Buildings Construction Market Global Briefing 2018
Starting Price : $ 1000.00 | Pages : 46 | Published : December 2017

SKU CODE : 2581 | Format :

The building construction industry includes establishments involved in the construction of residential and nonresidential buildings. This industry is further classified as follows - 1. Residential Building Construction i) New Single-Family Housing Construction , ii) Multifamily Housing Construction, iii) New Housing For-Sale Builders, iv) Residential Remodelers 2. Nonresidential Building Construction i) Industrial Building Construction and ii) Commercial And Institutional Building Construction

The global building construction market was estimated to be around $8450 billion as of 2017. The global building construction made up around 49% of the overall construction market in 2017. The building construction market was the largest market in the global construction market in 2017.

Rise In Modular Construction - Building manufacturers are using modular construction to ensure better construction quality management. Modular construction is a process in which a building is constructed off-site, produced in modules and then assembled on-site. Modular buildings are stronger, sustainable, more efficient and take lesser time for completion than conventionally constructed buildings. Offsite construction is suited for a number of structure types such as schools, dormitories, hospitals, office buildings hotels and retail stores. For example, in 2016, a 32-story residential tower in New York named 461 Dean, became the world’s tallest modular construction project to be completed. A 142-room AC Hotel in Oklahoma City is another example of a modular construction building. According to Modular Building Institute, the modular construction holds about 3% of the market share of new construction and it is expected to grow to 5% by 2020.


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