Architectural, Engineering Consultants And Related Services Market Definition And Segments

An architectural firm provides services such as planning, designing, and supervising the complex task of building construction. An engineering firm can provide extensive consultation to a company needing expert advice and solutions. The company can accept the project and work on evaluating, designing, simulating, and testing the product. The main types of architectural and engineering consultants and related services are engineering services, architectural services, surveying and mapping services, geophysical services, laboratory testing services, building inspection services, and drafting services. Engineering services are defined as those provided for system, assembly, or product deployments that are comparable in material, design, and scope to those stated for this program. The different service providers include large enterprises as well as small and medium-sized enterprises and are used in various applications such as road, rail, port, airport, pipeline, power, and others. The architectural, engineering consultants and related services market covered in this report is segmented – 1) By Type: Engineering Services, Architectural Services, Surveying and Mapping Services, Geophysical Services, Laboratory Testing Services, Building Inspection Services, Drafting Services 2) By Service Provider: Large Enterprise, Small And Medium Enterprise 3) By Application: Road, Rail, Port, Airport, Pipeline, Power, Other Applications Sub segments: Civil Engineering Services, Electrical Engineering Services, Mechanical Engineering Services, Other Engineering Services, Landscape Architectural Services, Building And Structural Architectural Services, Geophysical Data Collection, Geophysical Data Sales, Integrated Geophysical Services, Other Geophysical Services The architectural, engineering consultants and related services market size has grown steadily in recent years. It will grow from $1512.86 billion in 2023 to $1576.06 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to a rise in demand for environmentally safe and certified buildings, strong economic growth in emerging markets, a rise in construction activity, globalization, and government subsidies and funding. The architectural, engineering consultants, and related services market size is expected to see steady growth in the next few years. It will grow to $1850.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to faster economic growth, increasing investment in smart cities, increasing infrastructure development expenditure by governments, and green construction. Major trends in the forecast period include faster economic growth, increasing investment in smart cities, increasing infrastructure development expenditure by governments, and green construction.

Environmental Sustainability Driving Growth In Architecture And Engineering Services

The rise in demand for environmentally safe and certified buildings is expected to drive the architecture and engineering services market. Consumers, state governments, and NGOs are working towards making residential and commercial buildings more energy-efficient and self-sufficient. Private constructors and real estate developers are redesigning projects to fulfill these demands, leading to many benefits such as an increase in rental and resale value, home-owner satisfaction, lower operating costs, and regional or international recognition. The US Green Building Council launched the Leadership in Energy and Environmental Design (LEED) certification program to establish a set of rating systems that define the construction, design, and maintenance of residential projects. According to a study by the US Green Building Council (USGBC), LEED-certified buildings have managed to reduce carbon, energy, waste, and water waste by almost 30–97% and operating costs by more than 9%.

Urbanization Drives Demand For Architectural, Engineering Consultants And Related Services

The growing trend of urbanization is expected to boost the growth of the architectural, engineering consultants, and related services market going forward. Urbanization refers to the process by which an increasing proportion of a country's or region's population moves from rural areas to cities or urban centers, resulting in the growth and expansion of urban areas. With the expansion of urban populations, there is a growing need for new infrastructure, including roads, bridges, public transportation systems, water supply, sewage, and utilities. Architectural and engineering consultants are essential in planning, designing, and overseeing these projects. For instance, in July 2022, according to a report published by the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the population of the world is anticipated to reach 8 billion people in 2022, up 0.9% from the forecast of 2021. Therefore, the growing trend of urbanization is driving the growth of the architectural, engineering consultants, and related services market. Major companies operating in the architectural, engineering consultants, and related services market report are Downer EDI Limited, WSP Global Inc., John Wood Group PLC, Jacobs Engineering Group, Inc., Fluor Corporation, Babcock International, Kiewit Corporation, Zaha Hadid Architects, The African Engineering Company (SAFI), Beijing Engineering Corp Ltd., Architecture BRIO, Architecture Discipline, Camargo Correa, Cutler. Architecture, Dutco Balfour Beatty, Zvi Hecker Architekt, Redcon Construction Company, HPP Architects, Power China Kunming Engineering Corp. Ltd., Soned Afrique, Thabimndeni Construction & Projects CC, Mourik General Contractors, WTorre Empreendimentos, BCHO Architects Associates, JSWD Architekten, Construcciones Planificadas, Cabinet of Engineering for Development (CAÏD), Queiroz Galvao, China Construction Engineering Design Group Corp. Ltd., Gensler San Francisco, BDP – Building Design Partnership, ZAS Architects + Interiors Inc., Allford Hall Monaghan Morris, Allies and Morrison, khatib & alami, kadawittfeldarchitektur, Iroje KHM Architects, MRV Engenharia, APEX Project Bureau, Arch-BOX, PTW Architects, JEMS Architekci, Julius Berger Nigeria PLC, Danya Cebus Ltd., HDR Omaha, Lubrik Construction Company, Oiltek Engineering Co. Ltd., La’ Ala Al-Kuwait Real Estate Co, Bechtel Corporation, Aecom, Ingarden & Ewy – Architekci, Polish Architecture, Gulf Coast Electromechanical Company (UAE), Orascom Contstruction, China Architecture Design & Research Group, Andrade Gutierrez, Reynolds Construction Company, NV5, Shikun & Binui, Nakheel, Ecomo, WorleyParsons Limited, CP Kukreja Architects, Zaher Architects, Hager Design International Inc., AF construction, Maki & Associates, Grandio, Oderbrecht, Perkins and Will Chicago, Al Habtoor Group LLC, Ashtrom Group Ltd., Eco-Beam, Sou Fujimoto Architects, Design Plus Architects, Arabian Bemco Contracting Co, KPMB Architects, Al Rashid Trading & Contracting Co, Al Rajhi Hydraulic Center, Harry Seidler & Associates, SalfaCorp, Gav Yam Land Corporation Ltd., Estim Construction Co. Ltd., Foster + Partners, Cadence Architects, Unsangdong Architects, Stantec, KBR, Inc., Turner Construction, Shigeru Ban Architects, Peter Stutchbury Architecture, Marco Casamonti & Partners

Resilience And Recovery Of The Architectural And Engineering Services Market In The Post-Covid Era

The outbreak of COVID-19 disease (COVID-19) has acted as a restraint on the architectural, engineering, and related services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ‘lockdown’. The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the architectural, engineering, and related services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Innovative Applications Of 5D Building Information Modeling (BIM) In Architectural And Engineering Consultancy

Architectural and engineering consultants are using 5D building information modeling (BIM) to create dynamic building designs that can be altered at later stages of the project. BIM software is a tool used to design buildings and structures, including lighting, HVAC systems, and mechanical, electrical, and plumbing systems. It can also be used for clash detection, cost estimation, and safety analysis. 5D building information modeling (BIM) involves creating architectural designs that can be modified and customized in real-time. This system collects data from different project teams and helps collaborate with the entire construction chain, eliminating project delays. For instance, construction management company The Korte Company is using 5D BIM technology for project design, planning, and cost estimation, thereby enabling faster decision-making. The Maharashtra Metro Rail Corporation in the Indian state of Maharashtra is using 5D BIM in its construction projects worth $3 billion to reduce costs and litigation.

Development Of Products To Drive The Revenues Of Architectural, Engineering Consultants And Related Services Market

Major companies operating in the architectural, engineering consultants, and related services market are developing new products such as partner diversity consulting programs to meet larger customer bases, more sales, and increase revenue. A partner diversity consulting program is a service provided by consulting firms that specialize in diversity, equity, and inclusion (DEI) strategies. For instance, in March 2023, HKS Inc., a US-based Architectural services provider, launched HKS xBE, a new partner diversity program, that provides xBE firms (a phrase that includes all disadvantaged businesses) and their members with access to chances to network, look for new jobs, and foster innovation within the architectural and design professions. The unique parts make up the program with xBE Rise, a 12-week seminar, and xBE Network, which attempts to diversify the firm's numerous relationships for architecture and design projects. Western Europe was the largest region in the architectural, engineering consultants and related services market in 2023. North America was the second largest region in the architectural, engineering consultants and related services market. The regions covered in the architectural, engineering consultants and related services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the architectural, engineering consultants and related services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The architecture, engineering, and other related services market consists of revenue earned by entities by providing support to the planning and designing of construction-related businesses of all sizes across all industries. Business entities that are engaged in providing architecture, engineering, and other related services are generally referred to as architectural firms or engineering consultancy firms. Architecture, engineering, and related services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global architectural, engineering, and related services market research report is one of a series of new reports from The Business Research Company that provides global architectural, engineering, and related services market statistics, including global architectural, engineering, and related services industry global market size, regional shares, competitors with a global architectural, engineering, and related services market share, detailed global architectural, engineering, and related services market segments, market trends and opportunities, and any further data you may need to thrive in the global architectural, engineering, and related services industry. This global architectural, engineering, and related services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Building And Road Construction Equipment Market Definition And Segments

Building and road construction equipment refers to self-propelled or towed equipment used directly in building and road construction. The main product types of building and road construction equipment are motor graders, road rollers, wheel loaders, concrete mixers, bulldozers, and other product types. Motor graders are being used to finish grade the rough grading performed by heavy CE like scrapers and bulldozers. The equipment categories are earthmoving equipment, material-handling equipment, heavy construction vehicles, and other equipment categories. The various applications involved are building construction and road construction. The building and road construction equipment market covered in this report is segmented – 1) By Product Type: Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer, Bulldozers, Other Product Types 2) By Equipment Category: Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Other Equipment Categories 3) By Application: Building Construction, Road Construction The building and road construction equipment market size has grown rapidly in recent years. It will grow from $181.99 billion in 2023 to $202.35 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to economic growth, infrastructure development, urbanization, replacement and modernization. The building and road construction equipment market size is expected to see rapid growth in the next few years. It will grow to $300.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to infrastructure investment, smart construction, sustainable construction practices, urbanization trends, rental market expansion. Major trends in the forecast period include technological advancements, autonomous and remote-controlled equipment, digital twin technology, customization and versatility.

Infrastructure Development's Impact On Building And Road Construction Equipment Market

Infrastructure development in emerging and developed countries propelled the building and road construction equipment market. Emerging and developed countries' governments and private sector are focusing on developing the infrastructure to keep up the GDP, meet the growing population needs, meet the levels of urbanization, and increase connectivity by developing highways and expressways. For instance, the total Indian investment in road construction was worth $22.4 billion with private investment accounting for 14% of the total investments. Furthermore, according to the World Bank, the private sector infrastructure investment commitments for low- and middle-income countries were valued at $76.2 billion in 2021, which was a 49% increase from 2020 globally. Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time-consuming which further acts as a major driver for the growth of the building and road construction equipment market.

Construction Activity Surge Propels Growth In Building And Road Construction Equipment Market

An increase in construction activities is expected to propel the growth of the building and road construction equipment market going forward. Construction refers to the activity of putting together various elements to create a structure for a specific location using a detailed design and plan. Building and road construction equipment benefit from construction activities as they guarantee timely project completion, boost brand value, produce quality work, reduce costs, allow for numerous duties, assure safety, and facilitate technological developments. For instance, in June 2021, according to Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to the US Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2 percent. Therefore, the increase in construction activities is driving the growth of the building and road construction equipment market. Major companies operating in the building and road construction equipment market include Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Terex Corporation, Atlas Copco Group, Deere and Company, Sany Heavy Industry Co. Ltd., Wacker Neuson SE, CNH Industrial NV, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Wirtgen Group, Kobelco Construction Machinery Co. Ltd., Manitowoc Company Inc., Bell Equipment Ltd., Astec Industries Inc., Bopparder Maschinenbau-Gesellschaft mbH, Case Construction Equipment, FAYAT Group, Gomaco Corporation Inc., HAMM AG, JLG Industries Inc., Konecranes Oyj, Kubota Corporation, LiuGong Machinery Corp. Ltd., Manitou Group, Palfinger AG, Putzmeister Holding GmbH, Sennebogen Maschinenfabrik GmbH, Tadano Ltd., Takeuchi Mfg. Co. Ltd.

Challenges Posed By High Costs In The Building And Road Construction Equipment Market

The high cost of equipment and initial setup is expected to hinder the building and road construction equipment market. The cost of equipment consists of the purchase price, sales tax, shipping cost, installation cost, and financing charges at the time of acquisition of the equipment. A new full-size excavator can cost between $100,000 and $500,000, where companies are required to make high investments, as the purchase also involves additional costs, adding to the financial burden on companies and hindering the construction and road construction equipment market.

Advancements In Technology Drive Innovation In Building And Road Construction Equipment Manufacturing

The manufacturing companies in the building and road construction equipment market are concentrating on upgrading their technologies. The technology advancements aim to increase the safety, productivity, and connectivity of equipment and decrease maintenance issues and costs. For instance, in October 2021, according to Kobelco Construction Equipment India, an Indian-based manufacturer of large equipment and machines, launched the Next-Gen excavators in the 14T class. This excavator has a fuel-efficient ECO mode of operation, an international standard cab with high pressure and sound suppression for enhanced comfort, lighter hydraulic controls appropriate for extended periods of operation with little fatigue, and upgraded hydraulic filters. These features increase productivity, protect the environment, and ensure the operator and other construction site workers' safety when using the excavators.

Innovative Technologies Reshaping The Building And Road Construction Equipment Market

Major companies operating in the building and road construction equipment market are increasing their focus on introducing innovative technologies, such as concrete spraying equipment, to gain a competitive edge in the market. Concrete spraying equipment, also known as shotcrete equipment or gunite machines, is specialized machinery used in construction for the application of shotcrete or sprayed concrete. For instance, in June 2023, according to Normet, a US-based manufacturer of construction equipment, launched the Spraymec MF 050 VC SD for cleaner. The Spraymec MF 050 VC SD runs on Normet SmartDrive battery-electric technology, ensuring a comfortable experience for operators and eco-friendly operations with no local emissions. It features an advanced dosing system and a low-pulsation concrete spraying pump with a maximum capacity of 10.5 m3 (battery-powered) or 27 m3/h (electric). This machine, made specifically for underground mining, combines Normet SmartDrive with state-of-the-art spraying technology for effective and customized performance.

K-Tec Earthmovers Inc. And Ashland Industries Join Forces To Expand Earthmoving Equipment Offerings

In February 2022, K-Tec Earthmovers Inc. (K-Tec), a Canadian company that manufactures efficient earthmoving scrapers for construction and mining sites merged with Ashland Industries (Ashland), a USA-based manufacturer of earthmoving equipment for the agricultural, industrial, and construction sectors. The merger is expected to allow both companies to offer an extensive product line of earthmoving scrapers in the industry. The combination also expects to provide shorter lead times for customers and accelerated product design and launch. Asia-Pacific was the largest region in the building and road construction equipment market in 2023. Western Europe was the second-largest region in the building and road construction equipment market. The regions covered in the building and road construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the building and road construction equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The building and road construction equipment market consists of sales of asphalt mixing plants, forklift trucks, crawler excavators, truck cranes, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The building and road construction equipment market research report is one of a series of new reports from The Business Research Company that provides building and road construction equipment market statistics, including building and road construction equipment industry global market size, regional shares, competitors with a building and road construction equipment market share, detailed building and road construction equipment market segments, market trends and opportunities, and any further data you may need to thrive in the building and road construction equipment industry. This building and road construction equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Building Equipment Contractors Market Definition And Segments

Building equipment means all machinery, systems, appliances, equipment, and other equipment in a building or the infrastructure required to operate it. The main types of building equipment contractors are electrical contractors and other wiring installation contractors, plumbing, heating, and air-conditioning contractors, and other building equipment contractors. Plumbing refers to any system that transports fluids for a variety of purposes. To transport fluids, plumbers employ pipes, valves, plumbing fittings, tanks, and other devices. The different service providers include large chain companies and independent contractors and are available in various modes, such as online and offline. The building equipment contractors are involved in residential construction, non-residential building construction, utility system construction, and others. The building equipment contractors market covered in this report is segmented – 1) By Type: Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors 2) By Service Provider: Large Chain Companies, Independent Contractors 3) By Mode: Online, Offline 4) By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Other Applications The building equipment contractors market size has grown strongly in recent years. It will grow from $2,804.37 billion in 2023 to $2,988.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to construction industry growth, urbanization and infrastructure development, government investment, environmental regulations. The building equipment contractors market size is expected to see strong growth in the next few years. It will grow to $3,942.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to sustainable building practices, mart building technologies, prefabrication and modular construction, workforce shortages, the need for infrastructure upgrades and maintenance . Major trends in the forecast period include telematics and iot integration, building information modeling (bim), renewable energy installations, robotics and automation, advanced safety measures.

Rapid Urbanization Fuels Growth Of 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, the 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 building equipment contractor market during the forecasted period.

Rising Construction Industry Fueling Growth In The Building Equipment Contractors Market

The growth in the construction industry is expected to propel the growth of the building equipment contractor market. The construction industry involves the planning, design, and physical construction of buildings, infrastructure, and other structures to meet various societal and commercial needs. Building equipment contractors provide specialized expertise and services in the installation, maintenance, and repair of essential building systems and equipment, contributing to the efficient and functional operation of the construction industry. For instance, in February 2023, according to the Office for National Statistics, a UK-based statistics authority, annual construction output increased by 5.6% in 2022 compared with 2021, which follows a record increase in 2021 of 12.8%. Therefore, the growth in the construction industry is driving the building equipment contractor market. Major companies operating in the building equipment contractors market include KONE Corporation, Comfort Systems USA Inc., Balfour Beatty PLC, Fletcher Building Ltd., Vinci SA, Mitsubishi Electric Corp, Morgan Sindall Group PLC, Integrated Electrical Services Inc., Astaldi S.p.A., Johnson Controls International PLC, Honeywell International Inc., Siemens AG, Schneider Electric SE, United Technologies Corporation, Ingersoll-Rand PLC, Carrier Global Corporation, Daikin Industries Ltd., LG Electronics Inc., Trane Technologies PLC, Lennox International Inc., Rheem Manufacturing Company, Goodman Manufacturing Company L.P., York International Corporation, American Standard Companies Inc., A.O. Smith Corporation, Bradford White Corporation, Navien Inc., Rinnai Corporation, Noritz Corporation, Bosch Thermotechnology Corp., Viessmann Manufacturing Company Inc., Weil-McLain, Burnham Holdings Inc., Taco Comfort Solutions, Grundfos Pumps Corporation, Armstrong Fluid Technology, Bell & Gossett, Wilo USA LLC.

COVID-19 Disruption Impacting Building Equipment Contractor Market Expansion

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the non-residential building construction market in 2020 as supply chains were disrupted due to trade restrictions and construction activities were affected due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Construction companies depend on the supply of raw materials and equipment from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, companies had to halt construction activities due to a lack of equipment and raw materials. The outbreak continues to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the non-residential building construction market will recover from the shock over the forecast period as it is a ‘black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Smart Wearables Revolutionizing The Building Equipment Contractors Market For Enhanced Operations And Safety Management

Major companies operating in the building equipment contractor industry are increasingly focusing on developing smart wearables and technologies to improve efficiency, safety, and productivity on construction sites. Smart wearables are paving their way into the building equipment contractor market and are being used by supervisors for monitoring operations. Wearable devices generally include a computer or electronic device worn on the body, personal protective equipment, or clothing. Wearables like the smart cap, badges, and biosensors evaluate real-time data like location, impact, motion, temperature, and vital signs. For instance, in 2023, Masimo, a US-based medical technology company, launched the Masimo Freedom smartwatch. It was created to revolutionize the wearable technology sector and give the freedom to control your personal health and privacy through accurate and ongoing health tracking. It also includes a cutting-edge hardware feature intended to lessen radiation and free you from privacy invasion.

Comfort Systems Usa Inc. Partnered With Xoi Technologies To Launch The Fix Technical Support Center

In January 2022, Comfort Systems USA Inc., a US-based national heating, ventilation, and cooling (HVAC) company, partnered with XOi Technologies to deploy an advanced end-to-end engagement solution to better equip commercial and industrial technicians on the job. The FIX solution, which uses cutting-edge data-driven augmented reality technology, allows comfort systems workers to use, collect, and analyze key job data, making their time on site more efficient and productive. The technology enables service teams to improve efficiency, transparency, and customer experience while also developing extensive and easily available institutional knowledge bases to support real-time decision-making and data-driven continuity. XOi Technologies is a US-based technology company. It offers a cloud-based mobile application that empowers field service companies. Asia-Pacific was the largest region in the building equipment contractors market in 2023. North America was the second-largest region in the building equipment contractors market. 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. The countries covered in the building equipment contractors market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The building equipment contractors market includes revenues earned by entities by elevators, escalators, service station equipment, and central vacuum cleaning systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The building equipment contractors market research report is one of a series of new reports from The Business Research Company that provides building equipment contractor market statistics, including building equipment contractor industry global market size, regional shares, competitors with a building equipment contractor market share, detailed building equipment contractor market segments, market trends and opportunities, and any further data you may need to thrive in the building equipment contractors industry. This building equipment contractor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Building Finishing Contractors Market Definition And Segments

Building finishing is specialized construction work related to the plastering, pointing, painting, varnishing, white and color washing, or distempering in a building. The main types of building finishing contractors are drywall and insulation contractors; painting and wall-covering contractors; flooring contractors; tile and terrazzo contractors; finish carpentry contractors; and other building finishing contractors. Drywall and insulation contractors specialize in drywall, plaster, and building insulation. The building finishing services are provided by large chain companies and independent contractors and are available in various modes, such as online and offline. The building finishing contractors are involved in various applications, such as residential construction, non-residential building construction, utility system construction, and others. The building finishing contractors market covered in this report is segmented – 1) By Type: Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing Contractors 2) By Service Provider: Large Chain Companies, Independent Contractors 3) By Mode: Online, Offline 4) By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Other Applications The building finishing contractors market size has grown strongly in recent years. It will grow from $1,394.81 billion in 2023 to $1,487.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to construction industry growth, real estate development, urbanization and infrastructure projects, building renovations, architectural and design trends. The building finishing contractors market size is expected to see strong growth in the next few years. It will grow to $1,971.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to sustainability and green building, smart building integration, health and safety standards, infrastructure resilience, population growth and housing. Major trends in the forecast period include sustainable finishing materials, smart home integration, biophilic design, modular and prefabricated finishing, adaptive reuse.

Rising Global Aging Population Drives Demand For Building Finishing Contractors Market

The population profile of most countries is becoming older, which is increasing the demand for elderly-friendly infrastructure. For instance, according to World Health Organization (WHO), an specialized government agency, between 2020 to 2050, the number of people with 80 years of age or older is expected to triple and reach to 426 million and by 2050, the number of people aged 60 and over will double to reach 2.1 billion. 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.

Rising Construction Industry Fueling Growth In The Building Finishing Contractors Market

The growth in the construction industry is expected to propel the growth of the building finishing contractor market going forward. The construction industry involves the planning, design, and physical construction of buildings, infrastructure, and other structures to meet various societal and commercial needs. Building finishing contractors offer a wide range of services that are essential to completing a construction project. These services may include interior and exterior painting, flooring installation, drywall installation, roofing, insulation, plumbing, and electrical work. For instance, in February 2023, according to the Office for National Statistics, a UK-based statistics authority, annual construction output increased by 5.6% in 2022 compared with 2021, which follows a record increase in 2021 of 12.8%. Therefore, the growth in the construction industry is driving the building finishing contractor market. Major companies operating in the building finishing contractors market include Fletcher Building Ltd., NCI Building Systems Inc., Interserve PLC, APi Group Inc., Performance Contracting Group Inc., Cleveland Construction Inc., Irex Corp of Lancaster, Sherwin-Williams Company, Pittsburgh Plate Glass Industries, Inc., RPM International Inc., The Valspar Corporation, Benjamin Moore & Co., Behr Process Corporation, Rust-Oleum Corporation, Akzo Nobel N.V., Axalta Coating Systems Ltd., Badische Anilin und Soda-Fabrik SE, The Dow Chemical Company, DuPont de Nemours, Inc., Eastman Chemical Company, 3M Company, Avery Dennison Corporation, Bostik SA, Data Acquisition and Processing Products Inc., Franklin International Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., ITW Performance Polymers & Fluids, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Pidilite Industries Ltd., Sika AG, United States Gypsum Corporation, Armstrong World Industries Inc., CertainTeed Corporation, Georgia-Pacific LLC.

Health And Safety Challenges Restrains Building Finishing Contractors Market Expansion

Health and safety issues have always been a major concern in the building finishing contractor industry. Construction activities always face worker safety issues with them working at height, working in confined spaces, working underground and close proximity to falling materials; handling loads manually; handling hazardous substances; using plant and equipment; fire and exposure to live cables. For instance, according to 25 Construction Safety Statistics for 2021, the American construction industry comprises 6% of the US workers but witnesses around 20% of the fatalities, the highest number of fatalities compared to any other industry. Inadequate safety and health measures have a negative impact on both the construction and built environments, resulting in fatalities, injuries, and diseases.

Predictive Analytics Boosting Building Finishing Contractors Market Growth

Predictive analytics is playing a prominent role in the building finishing contractors’ market to simplify risk management, manage financials and resources, and allocate budgets. Predictive analytics refers to a technique used to process large data sets and infer actionable information and behavioral patterns. The software analyses data collected from subcontractors, materials suppliers, and design plans to examine and control risk factors. Predictive analytics helps the project manager to predict and avoid delays in manpower availability and equipment shortages; collects weather data; and predicts the conditions for the company to take preventive actions against weather changes to avoid loss of material and labor costs. Some of the software tools used by building finishing contractors include GanttPRO, Acculynx, Jonas Premier, CoConstruct, Buildertrend, Knowify, Procore, PlanGrid, ProCOntractor, and BIM 360.

Transforming Construction Material Procurement With Mistry.Store’S New App Boost Building Finishing Contractors Market

Major companies in the building finishing contractor market are developing innovative solutions such as digital platforms for building materials to streamline procurement, enhance project efficiency, and sustain their position in the market. The Building Material Platform app simplifies construction material sourcing and management for contractors and builders. For instance, in April 2023, Mistry. Store, an India-based building material platform, launched a new app exclusively for home-building professionals such as architects, designers, and contractors. The app is available on both Android and iOS and provides professionals with a streamlined experience, including access to Mistry’s more than 1500 product catalog, a simplified order placement and delivery mechanism, expense and project management tools, and a dashboard to view all earnings and transactions. Asia-Pacific was the largest region in the building finishing contractors market in 2023. Western Europe was the second-largest region in the building finishing contractors market. 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. The countries covered in the building finishing contractors market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The building finishing contractors market includes revenues earned by entities by drywall and insulation contractors, painting and wall covering contractors, flooring contractors, tile and terrazzo contractors, finish carpentry contractors, and other building finishing contractors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The building finishing contractors market research report is one of a series of new reports from The Business Research Company that provides building finishing contractors market statistics, including building finishing contractors industry global market size, regional shares, competitors with a building finishing contractors market share, detailed building finishing contractors market segments, market trends and opportunities, and any further data you may need to thrive in the building finishing contractors industry. This building finishing contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Building Material And Garden Equipment And Supplies Dealers Market Definition And Segments

Building materials and garden equipment and supplies dealers are sellers that are engaged in retailing specialized lines of new building materials, such as lumber, fencing, glass, doors, plumbing fixtures and supplies, electrical supplies, prefabricated buildings and kits, and kitchen and bath cabinets and countertops to be installed. The main types of building materials and garden equipment and supplies dealers are building materials and supplies dealers, lawn and garden equipment, and supplies stores. Lawn and garden equipment and supplies stores sell products that include lawn and garden equipment, furniture, and products related to the cultivation of flowers, vegetables, and so on. The main ownership types are retail chains and independent retailers, each having different types of stores that include exclusive retailers/showrooms and inclusive retailers/dealer stores. The building material and garden equipment and supplies dealers market covered in this report is segmented – 1) By Type: Building Material and Supplies Dealers, Lawn and Garden Equipment and Supplies Stores 2) By Ownership: Retail Chain, Independent Retailer 3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store The building material and garden equipment and supplies dealers market size has grown strongly in recent years. It will grow from $1,548.38 billion in 2023 to $1,671.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to home improvement projects, economic conditions, seasonal variations, technological advancements. The building material and garden equipment and supplies dealers market size is expected to see strong growth in the next few years. It will grow to $2,228.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to sustainable and eco-friendly products, home renovation trends, smart home and garden technology, aging population, infrastructure development. Major trends in the forecast period include .

Positive Economic Growth Expected To Drive Building Materials And Garden Equipment And Supplies Dealers Market

The building materials and garden equipment and supplies dealers market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to International Monetary Fund (IMF), the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period.

Rising Home Improvement Spending Fuels Growth In Building Material And Garden Equipment And Supplies Dealers Market

The increased home improvement spending is expected to propel building material and garden equipment and supplies dealers market going forward. Home improvement refers to projects or modifications undertaken to enhance the functionality, aesthetics, or value of a residential property. Building material and garden equipment and supplies dealers sell a range of materials, equipment, and supplies used in construction, home improvement, and gardening projects. For instance, in January 2023, according to the Joint Center for Housing Centers of Harvard University (JCHS), a US-based research center dedicated to examining housing issues, the US home improvement project for remodeling and repairs spending increased to $472 billion in 2022, with a further projection to reach $485 billion in 2023. Therefore, the increasing home improvement spending is driving the building material and garden equipment and supplies dealer’s market. Major companies operating in the building material and garden equipment and supplies dealers market include The Home Depot Inc., Lowe's Companies Inc., Wesfarmers Limited, Falabella SA, Rewe Group, Steinhoff International Holdings NV, Ace Hardware Corporation, Beijing Easyhome Investment Holding Group Co. Ltd., Menard Inc., Builders FirstSource Inc., Building Materials Holding Corporation, Beacon Roofing Supply Inc., ABC Supply Co. Inc., 84 Lumber Company, Allied Building Products Corp., Fastenal Company, Ferguson Enterprises LLC, HD Supply Holdings Inc., Watsco Inc., GMS Inc., L&W Supply Corporation, US LBM Holdings Inc., BlueLinx Holdings Inc., Beacon Roofing Supply Canada Company, SRS Distribution Inc., Foundation Building Materials Inc., SiteOne Landscape Supply Inc., Pool Corporation, Tractor Supply Company, Rural King Supply Inc., At Home Group Inc., Floor & Decor Holdings Inc., Sherwin Williams Company, PPG Industries Inc., The Scotts Miracle Gro Company, Central Garden & Pet Company.

Impact Of COVID-19 On The Building Materials And Garden Equipment And Supplies Dealers Market

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the building materials and garden equipment and supplies market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in the manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of ‘lock down’ and the outbreak having a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the building materials and garden equipment and supplies dealers market will recover from the shock over the forecast period as it is a ‘black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

The Rising Demand For Green Building Materials

With rising awareness regarding environmental pollution, the demand for green building materials is increasing. Green building materials are sustainable, have a low carbon footprint, and help reduce exposure to toxic chemicals in residences and workplaces. These materials are moisture-resistant, energy-efficient, and easy to maintain and create less production waste. As people become aware of polluting and hazardous construction materials, the industry accommodates organic architecture and biodegradable materials in the design of homes and commercial spaces. Consumers now demand safer products. For instance, American consumers are increasingly opting for sustainable building materials that are locally made, refurbished or remanufactured, and resilient to natural disasters.

Introduction Of Affordable Elements To Provide A Sustainable Alternative

Major companies operating in building materials and garden equipment and supplies dealer are introducing affordable materials such as Pastacrete ResCP to transform traditional building materials and increase their revenue in the market. Pastacrete ResCP refers to an eco-friendly and affordable substitute for conventional building materials such as concrete and steel. For instance, in May 2023, Buro Happold, a UK-based professional services company, launched Pastacrete ResCP, an affordable, eco-friendly building material made from readily available bio-based elements. Designed as a sustainable replacement for concrete and steel, it boasts a reduced carbon footprint, recyclability, and excellent insulation properties. North America was the largest region in the building material and garden equipment and supplies dealers market in 2023. Asia-Pacific was the second-largest region in the building material and garden equipment and supplies dealers market. The regions covered in the building material and garden equipment and supplies dealers’ market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the building material and garden equipment and supplies dealers market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The building materials and garden equipment and supplies dealers market includes revenues earned by entities by providing services through producers and wholesale distributors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The building material and garden equipment and supplies dealers market research report is one of a series of new reports from The Business Research Company that provides building material and garden equipment and supplies dealers market statistics, including building material and garden equipment and supplies dealers industry global market size, regional shares, competitors with a building material and garden equipment and supplies dealers market share, detailed building material and garden equipment and supplies dealers market segments, market trends and opportunities, and any further data you may need to thrive in the building material and garden equipment and supplies dealers industry. These building materials and garden equipment and supplies dealer’s market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

3D Printing Building Construction Market Definition And Segments

3D printing building construction is the process of building, altering, repairing, improving, or demolishing any structures or buildings using 3D print technology. 3D printing is a computer-controlled sequential layering of materials to form three-dimensional shapes. It is particularly beneficial for prototyping and the production of geometrically complex components. The main types of 3D printing building construction are modular and full-building. Modular building entails generating standardized structural components in an off-site factory and then assembling them on-site. The processes used are extrusion, powder bonding, and others, and the materials used are concrete, plastic, metal, hybrid, and others. 3D printing building construction includes residential, commercial, and industrial construction. The 3d printing building construction market covered in this report is segmented – 1) By Construction Type: Modular, Full Building 2) By Process: Extrusion, Powder Bonding, Other Processes 3) By Material Type: Hybrid, Plastic, Metal, Other Material 4) By End-User: Residential Buildings, Institutional Buildings And Commercial Buildings The 3d printing building construction market size has grown exponentially in recent years. It will grow from $0.11 billion in 2023 to $0.33 billion in 2024 at a compound annual growth rate (CAGR) of 201.7%. The growth in the historic period can be attributed to technological advances, rising investments in renewable energy infrastructure, efficiency over conventional construction, reduction in manufacturing expenditure, development of 3d printing technology, and the exponential rise in urbanization. The 3d printing building construction market size is expected to see exponential growth in the next few years. It will grow to $7.7 billion in 2028 at a compound annual growth rate (CAGR) of 119.7%. The growth in the forecast period can be attributed to an increase in new construction projects globally, green construction methods, and a rise in disposable income. Major trends in the forecast period include using robotic arm extruders to improve productivity, investing in 3d prefabrication buildings and modularization techniques to enhance construction efficiencies, and adopting green construction techniques to develop environmentally-friendly buildings, using strategic partnerships and collaborations to strengthen the position.

The Economic Advantages Of 3D Printing In Building Construction

The capability to build complex structures within a stipulated time for a reasonable cost is a major factor driving the demand for 3D printing in the building construction market. 3D printing building construction is cost-effective, saves time, provides more precision, is safe, cuts labor costs, is environmentally friendly, and easily helps build complex building structures. 3D printing in construction is economical in terms of material usage when compared with the traditional manufacturing process. Moreover, 3D printing reduces labor costs by 50%–80%, production time by 50%–75%, and construction waste by 30%–60%. Therefore, the economic benefits offered by 3D printing construction are expected to significantly boost the market's growth.

Increasing Construction Activities Propel Growth In The 3D Printing Building Construction Market

Increasing construction activities are expected to propel the growth of the 3D printing building construction market. Construction activities refer to the processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities through to the end of their lives. The utilization of 3D printing in building construction enhances construction efficiency, minimizes waste, and facilitates intricate architectural designs. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach $15.2 trillion. Therefore, increasing construction activities are driving the growth of the 3D printing building construction market. Major companies operating in the 3d printing building construction market report are ICON Technology, Inc., Mighty Buildings, Inc., Branch Technology, Contour Crafting Corporation, Apis Cor, PERI Group, XtreeE, Mx3D, CyBe Construction B.V., Sanska Group, Yingchuang Building Technique (China), Sika AG, Skanska, LafargeHolcim and Dus Architects, Winsun, Zhuoda Group, Novabeans, Tata Project, Punj Lioyd, Larsen & Toubro and UltraTech Cement, Tvasta Manufacturing Solutions, Ozaz Global, Yingchuang New Materials, Reliance Infrastructure Limited, Komatsu Ltd., Sekisui House, Daiwa House Industries, Mitsui & Co Ltd., Panasonic Homes, Muscle Corporation, Hankyu Hanshin Holdings Inc., Obayashi Corporation, Shimizu Corporation, Takenaka Corporation, Kajima Corporation, Ying Chuang Construction Technology (WinSun), Shanghai Construction Group Co. Ltd., China MCC17, China Construction Eighth Engineering Div, Shanghai Yannuo Building Materials, China Minsheng Drawin Technology Investment, Dou Shupeng, Kejia Construction, Caterpillar Inc., Acciona, WASP, BatiPrint, Be More 3D, Constructions 3D, CSP s.r.l, COBOD, LifeTec Construction Group Inc., SQ4D, 3DCriar, Constructora Conconcreto, Arup, Aedive (Peru), Materialise Oderbrecht, Camargo Corrêa, Andrade Gutierrez, Queiroz Galvão, MRV Engenharia, SalfaCorp, Mourik General Contractors, Gilbane Building Company, McCrory Construction Company, BESIX 3D, Concreative LLC, ACCIONA S.A., Immensa Technology Labs, Emaar Properties, DuBox, EQUATE, Xtreme Africa

High Initial Capital Requirement Hinders Growth

A high initial capital investment requirement is anticipated to impact the growth of the 3D printing building construction market over the coming years. The high cost of 3D printers and their maintenance is a major challenge for industry players. According to Winsun 3D Builders, a 3D printing construction company, the high initial investment of 3D concrete printers is currently at a level that requires high capital and decent construction projects in order to support small and medium-sized companies to overcome the capital requirements for expansion and growth. The requirement of high initial capital to set up the process is expected to hinder the growth of the 3D printing building construction market in the forecast period.

Ai-Powered Flexibility In 3D Printing In Building Construction

Increasing flexibility in 3D printing operations using artificial intelligence technology (AI) is a major trend shaping the growth of the 3D printing building construction market. In October 2022, Luyten 3D, an Australia-based building and construction company providing 3D printing launched Platypus X12 concrete printer, an AI-powered mobile concrete 3D printer for application in the building and construction industry. It is one of the world’s largest printers and flexible to transform in size of 12 x 6 mobile crane in 20 minutes, which helps in expanding its capability to print large-scale structures. It has the capabilities of integrating acoustic and optical-based artificial intelligence for data-driven concrete printing. Moreover, the printer has an anti-clogging head that is patented.

3D Printing Building Construction Companies Focus On Cost-Effective Printers

Major companies operating in the 3D printing building construction market are increasing their focus on developing innovative solutions such as cost-effective 3D printers to maximize revenue in the market. Cost-effective 3D printers are 3D printing machines or devices that offer affordability in terms of their purchase price and operational costs while maintaining reasonable performance and quality standards for producing three-dimensional objects. For instance, in July 2023, Holcim's 14Trees, a UK-based construction solutions provider, launched the first construction 3D printer manufactured in Africa, called Iroko. The printer is specifically designed for the construction of residential and commercial buildings ranging from one to two stories, and it offers a 30% cost savings compared to other construction 3D printers available, along with reduced operational expenses.

India Cements And Tvasta Collaborate For Affordable Housing Through 3D Printing

In May 2022, India Cements, a company engaged in manufacturing cement, collaborated with Tvasta Manufacturing Solution, a start-up providing 3D printing for the construction industry. Through this collaboration, India Cements and Tvasta would conduct research and development (R&D) and exchange technology to create new raw material formulations for 3D printing applications and provide support to major projects to create affordable and time-efficient housing solutions. Tvasta Manufacturing Solution was founded in 2016 and is focused on leveraging robotics in the 3D printing platform. Asia-Pacific was the largest region in the 3D printing building construction market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 3d printing building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the 3d printing building construction market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The 3D printing buildings construction market includes revenues earned by entities by constructing 3D printing buildings. The 3D printing buildings construction work performed includes new work, additions, alterations, maintenance, and repairs. The 3D printing building is constructed using a 3D printer machine that deposits material or concrete layer by layer. These are particularly used for prototyping or building complex components. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The 3D printing building construction market research report is one of a series of new reports from The Business Research Company that provides 3D printing building construction market statistics, including 3D printing building construction industry global market size, regional shares, competitors with a 3D printing building construction market share, detailed 3D printing building construction market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printing building construction industry. This 3D printed building construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Autonomous Construction Equipment Market Definition And Segments

Autonomous construction equipment refers to equipment that includes sensors such as lidar and cameras to recognize humans and obstacles, and the system also uses geofencing to keep machinery within the construction sites. The main product types of autonomous construction equipment are earth-moving equipment, construction vehicles, material handling equipment, concrete, and road construction equipment. Earthmoving equipment is large machinery, mainly heavy-duty vehicles designed for earthwork construction tasks. The autonomous construction equipment is partial/semi-autonomous and fully autonomous. The various applications involved are road construction, building construction, and other applications. The autonomous construction equipment market covered in this report is segmented – 1) By Product Type: Earth Moving Equipment, Construction Vehicles, Material Handling Equipment, Concrete And Road Construction Equipment 2) By Autonomy: Partial Or Semi-Autonomous, Fully Autonomous 3) By Application: Road Construction, Building Construction, Other Applications The autonomous construction equipment market size has grown strongly in recent years. It will grow from $14.05 billion in 2023 to $15.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing infrastructure development, an increased need for safety in construction, and a rise in industrialization. The autonomous construction equipment market size is expected to see strong growth in the next few years. It will grow to $22.31 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rapid urbanization, a rise in construction activities, and increasing government support. Major trends in the forecast period include a focus on advanced construction equipment, rising investments, a focus on autonomous robot construction, IoT (internet of things)-based autonomous construction machinery, new product launches, a focus on technology advancement, and strategic partnerships and collaborations.

Labor Shortages Drive Growth In The Autonomous Construction Equipment Market

Most construction companies are facing heavy equipment operator shortages throughout the world. Manufacturers are more focused on technology such as robotics and automation primarily to combat labor shortages along with finishing up their tasks faster, reducing wastage, and providing high yields with improved quality. Experts believe that one of the best solutions to combat labor shortages is to automate construction equipment, especially in remote areas, for repetitive tasks and in locations with significant labor shortages. Therefore, a shortage in labor or skilled workforce is driving the growth of the autonomous construction equipment market.

Rise In Construction Activities Drive The Autonomous Construction Equipment Market Expansion

The growing construction industry is expected to boost the growth of the autonomous construction equipment market going forward. The construction industry refers to a broad sector of the economy that encompasses the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. As the construction industry expands, there is a higher demand for heavy machinery and equipment to complete various projects efficiently and on time. This demand drives the adoption of autonomous construction equipment to meet project requirements. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, in 2021, the annual construction industry increased by a record 12.7% compared to the previous year. In December 2021, the volume of monthly construction output climbed by 2.0%; this was entirely due to a rise in new work (3.5%). In addition to the monthly rise, the construction industry's quarterly production climbed by 1.0% in Q4 2021 compared to Q3. This increase was driven by new work (1.1%), and repair and maintenance (0.8%). Therefore, the growing construction industry is driving the growth of the autonomous construction equipment market. Major companies operating in the autonomous construction equipment market report are Caterpillar Inc., Komatsu Limited, Volvo Group, Hitachi Construction Machinery Co., Ltd., Doosan Corporation, CNH Industrial, Deere & Company, Royal Truck & Equipment, Autonomous Solutions Inc., Built Robotics, Inc., Yingchuang Building Technique Co., XMCG, Kobelco Construction Machinery Co. Ltd., Tadano Ltd., Liebherr, Sany Heavy Industry Co., Ltd., Xuzhou Construction Machinery Group Co., Ltd., Zoomlion India Pvt. Ltd., China Communications Construction Company, JCB India, Fastbrick Robotics, Fujita Corporation, Toyota Industries, Takeuchi Manufacturing, Lingong Heavy Machinery Co. Ltd., Terex Corporation, Wacker Neuson, Bobcat, SafeAI, Aecon, Case, Cummins, Hitachi

Challenges Of Safety And Cybersecurity In The Autonomous Construction Equipment Market

Safety and cyber security issues have always been a major challenge in the autonomous construction equipment market. To automate construction equipment, regardless of the control system used, cybersecurity always remains a key concern as it is challenging to control the potential damage that could be caused by the hacking of heavy equipment. It presents remote access for hackers to exploit system vulnerabilities of communication systems between vehicles and infrastructure. Threats associated with the protection and safety of personal information are always a major concern, limiting the growth of the Autonomous construction equipment market.

Making Existing Equipment Autonomous In The Construction Industry

Making existing equipment autonomous is a growing trend in the autonomous construction equipment market. Companies are interested in automation but the implementation cost for deployment of technology is high. Therefore, construction companies are planning to rent autonomous machines to stay competitive by using new technology without the potential barriers of high investments. This is mainly avoiding costs associated with purchasing construction equipment. For instance, the cost of owning a commercial truck may add up to roughly $8,500 annually according to the statistics. To reduce the overall expenses, they are working on solutions to make their existing equipment autonomous. Built Robotics, provides a manufacturer-agnostic solution to clients that want to automate their machines by which customers could make their machinery autonomous without sacrificing manual operating capabilities. With more machines to be likely to become autonomous in the future, promising developments are on the horizon.

Development Of Advanced Technologies For Autonomous Construction Equipment Market

Major companies operating in the autonomous construction equipment market are developing new products such as path planning software to meet larger customer bases, more sales, and increase revenue. Path planning software, also known as motion planning software, is a type of computer program or algorithm designed to determine an optimal path or trajectory for a mobile robot, autonomous vehicle, or any entity with the capability to move autonomously. For instance, in February 2023, Trimble, a US-based technology company, launched advanced path planning technology. This technology's unique characteristic is its capacity to assist equipment makers and contractors in automating the trajectory, speed, and general path design of heavy equipment. The technology, according to the company, should speed up task completion and move the construction sector closer to fully autonomous machinery. Global manufacturers can give their clients an automated, simple-to-integrate solution that works with both Trimble and third-party equipment manufacturer systems. To provide Trimble end users with a seamless, end-to-end experience, the technology will also be made available inside Trimble Connected Farm and Trimble Construction Cloud.

Bell Trucks America Partnered With Pronto

In February 2022, Bell Trucks America, a US-based manufacturing company providing articulated off-road dump trucks, announced a partnership with a California-based developer of autonomous technology mainly for articulated dump trucks, Pronto. Articulated trucks are often used in small construction sites and underground mines. As part of the partnership, Pronto would make its advanced autonomous driving and driver safety technologies available to all Bell customers in the United States and Mexico on both new Bell trucks and existing fleets via BTA's network of more than 75 dealerships and service centers. Asia-Pacific was the largest region in the autonomous construction equipment market in 2023. North America was the second-largest region in the autonomous construction equipment market share. The regions covered in the autonomous construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the autonomous construction equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain The autonomous construction equipment market consists of sales of excavators, backhoe loaders, bulldozers, and skid-steer loaders. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The autonomous construction equipment market research report is one of a series of new reports from The Business Research Company that provides autonomous construction equipment market statistics, including autonomous construction equipment industry global market size, regional shares, competitors with an autonomous construction equipment market share, detailed autonomous construction equipment market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous construction equipment industry. This autonomous construction equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Construction Market Definition And Segments

Construction is the process of building, altering, repairing, improving, or demolishing any structures or buildings using a detailed design and plan. The different types of construction are building construction, heavy and civil engineering construction, specialty trade contractors, land planning, and development. Building construction includes the dismantling of existing structures, the construction of new structures, the addition of the latest structures to existing structures, and the required modifications to existing structures to correspond to any recent additions. The types of contractors are large contractors and small contractors and provide service for the public and private sectors. The construction market covered in this report is segmented – 1) By Type Of Construction: Buildings Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, Land Planning And Development 3) By Type Of Contractor: Large Contractor, Small Contractor 2) By End-Use Sector: Public, Private Sub segments: Residential Building Construction, Non-Residential Building Construction, Single-Family Housing Construction (Individual Houses), Multifamily Housing Construction (Apartments), New Housing For-Sale Builders, Residential Remodelers, Institutional Buildings, Commercial Buildings, Education Buildings, Public Convenience Buildings, Government Buildings, Religious Buildings, Healthcare Buildings, Office And Factory Buildings, Hospitality And Restaurant Buildings, Entertainment And Sports Buildings, Retail And Other Commercial Buildings, Office Buildings, Factory Buildings, Hospitality Buildings, Restaurant Buildings, Entertainment Buildings, Sports Buildings, Retail Buildings, Other Commercial Buildings, Utility System Construction, Highway, Street, And Bridge Construction, Other Heavy And Civil Engineering Construction, Water And Sewer Line And Related Structures Construction, Oil And Gas Pipeline And Related Structures Construction, Power And Communication Line And Related Structures Construction, Water Well Drilling Contractors, Sewer Construction, Water Main And Plant Construction, Roads And Highways, Bridges And Tunnels, Other Highway, Street, And Bridge Construction, Roads, Highways, Bridges, Tunnels, Marine Construction And Port Construction, Rail Road Construction, Sea Wall Construction, All Other Heavy And Civil Engineering Construction, Marine Construction, Port Construction, New Rail Road Track Construction, Rail Road Track Repair And Maintenance, Foundation, Structure, And Building Exterior Contractors, Building Equipment Contractors, Building Finishing Contractors, Other Specialty Trade Contractors, Excavation And Demolition, Roofing, Concrete Work, Water Well Drilling, Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors, Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing Contractors, Site Preparation Contractors, All Other Specialty Trade Contractors, Residential Land Planning And Development, Commercial And Institutional Land Planning And Development, Industrial Land Planning And Development, Houses And Housing Estate Developments, Apartments And Other Residential Developments The construction market size has grown strongly in recent years. It will grow from $15192.71 billion in 2023 to $15971.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to the increasing infrastructure development, the increase in renovation activities, rapid growth in the elderly population, and the rise in domestic manufacturing. The construction market size is expected to see strong growth in the next few years. It will grow to $19856.65 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rising urbanization, increasing population growth, increasing government support, rising industrialization, and an increase in smart cities. Major trends in the forecast period include automated construction equipment, construction equipment vehicles, development of high-performance equipment, integration of digital platforms and innovative solutions, the introduction of artificial intelligence (AI) and machine learning, strategic collaborations and partnerships, launch of innovation network, the introduction of fully electric construction equipment, technological innovations and new lot development in suburban areas.

Rising Construction Activities Fueling Growth Of Construction Market

The rapid growth in construction activity worldwide is expected to propel the growth of the construction market going forward. Emerging markets that registered robust construction activity included China, Brazil, India, Saudi Arabia, and Indonesia. Construction activities stimulate demand for construction services and materials, thereby supporting and growing the construction market. For instance, in February 2023, according to the Office for National Statistics, a UK-based statistics authority, annual construction output increased by 5.6% in 2022 compared with 2021, which follows a record increase in 2021 of 12.8%. This rapid growth in construction activity contributed to the growth of the construction market.

Rising Urbanization Fueling Growth In The Construction Market Growth

The increase in urbanization is expected to propel the growth of the construction market. Urbanization refers to the process of the increasing growth and expansion of cities, often accompanied by population migration from rural to urban areas. Construction enables urbanization by providing the necessary infrastructure and buildings to accommodate a growing urban population and support economic development in cities. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based independent international organization, more than 4.3 billion people, or 55% of the world’s population, lived in urban settings, and the number is expected to rise to 80% by 2050. Therefore, increasing urbanization is driving the construction market. Major companies operating in the construction market report are China State Construction Engineering Co., Ltd., China Railway Group Ltd., China Railway Construction Corporation Limited, China Communications Construction Group Ltd., Vinci S.A., Grupo ACS, Lennar Corporation, D.R. Horton, Inc., Bouygues S.A., Power Construction Corp. Of China, CIMIC Group, Shimizu Corporation, Lendlease Group, CapitaLand Limited, L&T Engineering & Construction Division, Tata Projects Ltd., Hindustan Construction Company, Yunnan Zhiling Construction Engineering Co., Ltd., Zhejiang Yijian Construction Group Co, Zeppelin GmbH, SGS, Interconstruct, Etex, Anker Hansen & Co. A/S, Christiansen & Essenbæk A/S, C.C. Contractor A/S, EKE-Construction Ltd., Colas Group, Eiffage Construction, Bauer Group, Bennett Construction Limited, Collen Construction Limited, Casais Group, Balfour Beatty, Laing O’ Rourke, Interserve, Morgan Sindall, Kier, Altaca Group, Renaissance Construction, ALFA Engineering & Construction Co, Budimex Group, STRABAG International GmbH, BeautyWalls LLC, SC Geamuri Serv SRL, Octagon Contracting & Engineering SA, PCL Construction, EllisDon Corporation, Aecon Group Incorporated, Ledcor Group of Companies, Graham Construction, Pomerleau Incorporated, Bird Construction Incorporated, Empresas ICA, Bechtel, Fluor Corporation, Turner Corporation, Skanska USA, Kiewit Corporation, Jacobs Engineering Group, Oderbrecht, Camargo Corrêa, Andrade Gutierrez, Queiroz Galvão, MRV Engenharia, SalfaCorp, Mourik General Contractors, McCrory Construction Company, Al Habtoor Group LLC, Al-Naboodah Constructing, Arabian Construction Company, Dutco Balfour Beatty LLC, SHIKUN & BINUI Ltd., Mekorot Water Company Ltd., DANYA CEBUS Ltd., ASHTROM GROUP Ltd., Saudi Bin Ladin Group, Al-Rashid Trading & Contracting Co, Al Ayuni Investment & Contracting Co, Al Harbi Trading & Contracting Co, Arabian Bemco Contracting Co, Redcon Construction Company, Estim Construction Co. Ltd., Eco-Beam, Ecomo, TSAI design studio

Rising Material Costs Impact Profit Margins Of The Construction Market

Construction costs have increased steadily due to rising material costs in the historic period. Companies in the industry experienced subdued growth in their profits with rising prices of materials. For instance, in September 2022, according to the Office of National Statistics (ONS), a UK-based independent producer of official statistics, the cost of UK construction materials in July 2022 was 24% higher than a year earlier. And in total, the cost of construction materials here in the UK was over 46% higher in July 2022 than pre-pandemic in January 2020. Therefore, high material prices adversely affected the construction market during the historic period.

The Growing Adoption Of Green Construction Techniques For Energy-Efficient And Eco-Friendly Buildings

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 the World Green Building Trends Survey, about 60% of construction firms across the globe 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 a 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. For instance, some, Major companies using green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps, and Holder Construction.

Automated Service Center Ushers In Efficiency And Sustainability In Odisha's Construction Sector

Major companies operating in the construction market are developing innovative technologies, such as automation to enhance project efficiency, reduce costs, and secure a competitive edge in the market. An automated construction service center is a centralized platform or facility that utilizes automation and technology to efficiently manage and coordinate various aspects of construction projects, including scheduling, resource allocation, and communication. For instance, in July 2023, Tata Steel, an India-based provider of the construction solutions industry, launched its first completely automated construction service center in Odisha, ushering in a new era of sustainable, precise, quality, and speedy construction. This ground-breaking effort is designed to transform reinforcement applications in the construction sector and meet Odisha's rapidly rising infrastructure demand. Asia-Pacific was the largest region in the construction market in 2023. North America was the second-largest region in the construction market. The regions covered in the construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the construction market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The construction market includes revenues earned by entities by constructing buildings or engineering projects (such as highways and utility systems). Establishments that prepare sites for new construction and those that subdivide land for sale as building sites are included in this market. The construction market includes new work, additions, alterations, maintenance, and repairs. The market also includes modular building construction, prefabricated building construction, 3D building construction and green building construction The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The construction market research report is one of a series of new reports from The Business Research Company that provides construction market statistics, including the construction industry global market size, regional shares, competitors with a construction market share, detailed construction market segments, market trends and opportunities, and any further data you may need to thrive in the construction industry. This construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.