The building construction industry includes establishments involved in the construction of residential and nonresidential buildings.
Building Construction Global Market Size
The global buildings construction market was valued at around $8 trillion in 2017. Asia Pacific was the largest region in the building construction market in 2017, accounting for more than 60% market share. China was the largest country in the market in 2017, accounting for nearly 40% market share.
Building Construction Global Market Trend
Construction companies are increasingly using autonomous construction vehicles and heavy equipment to improve productivity. These automated vehicles are equipped with sensors, cameras and GPS. Real-time data obtained from these devices helps in remote monitoring of jobsite and reduces construction time. Vehicles connected through IoT, telematics and RFID tracking technologies are also helping the construction industry to be more collaborative, efficient and safe.
The major players in the global buildings construction market are China State Construction Engineering Co., Ltd., D.R. Horton Inc., China Railway Construction Corporation Limited, Lennar Corporation and Kiewit Building Group.
The countries covered in the global buildings construction market are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Building Construction Global Market Segmentation
Building construction market is segmented into Nonresidential Building Construction and Residential Building Construction.
Nonresidential Building Construction includes establishments involved in construction of nonresidential buildings such as airports, assembly plants, cement plants, chemical plants, grain elevators, hospitals, hotels, office buildings, restaurants, schools and shopping malls.
Residential Building Construction comprises companies constructing residential buildings such as apartments, condominiums, cottages, duplexes, row houses, town houses and vacation homes. It also includes new housing for-sale builders and residential remodelers.