Global Market Insights Inc. offers GMIPulse, a cutting-edge, Business Intelligence (BI)-enabled platform designed to deliver the finest strategic value. GMIPulse offers an adaptable subscription service, customizable to meet your unique needs, providing comprehensive and granular market data, competitive landscape insights, and an in-depth understanding of industry ecosystems. This platform is your go-to solution for all market research needs, ensuring you stay ahead with the latest trends and technological advancements.
Advantages of GMIPulse
- 1. Easy Access to Accurate Market Data: GMIPulse provides instant access to granular and authentic market data, empowering you with precise and up-to-date information for strategic decision-making.
- 2. Comprehensive Market Research Solution: As your all-encompassing market research tool, GMIPulse covers a wide array of industries, offering detailed analyses and forecasts to help you navigate market dynamics effectively.
- 3. In-Depth Competitive Landscape: The platform offers comprehensive insights into competitive landscapes and company profiles, enabling you to understand your competitors and industry benchmarks thoroughly.
- 4. Understanding Industry Ecosystems: GMIPulse allows you to gain a profound understanding of industry ecosystems, tracking technological advancements and their impact on industry trends.
- 5. Customized Client Profiles: Tailor-made client profiles help you identify the latest growth opportunities and understand specific market needs, enhancing your strategic planning.
- 6. Technology Tracking Stay informed about the latest technological trends and their implications on the market, ensuring you are well-prepared for future developments.
- 7. Access to Latest Reports: Subscribers receive access to previously published reports and upcoming releases, keeping you updated with the most recent market intelligence.
- 8. Interactive and User-Friendly Interface: The platform's interactive interface ensures a seamless user experience, allowing you to navigate through data effortlessly and derive meaningful insights efficiently.
- 9. Enhanced Analyst Hours: Benefit from improved access to analysts for strategic assistance and in-depth explanations, ensuring you make well-informed decisions.
- 10. Secure Login: Enjoy password-protected access to all reports, ensuring your data security and confidentiality.
Exceptional Benefits of GMIPulse
- 1. Instant Report Access GMIPulse offers clients direct access to comprehensive market reports instantly, facilitating timely and informed decision-making.
- 2. MyraAI, Introducing MyraAI Assistance within GMI Pulse: a game-changing feature that makes data insights accessible to everyone, in any language. With multilingual support, MyraAI seamlessly translates complex reports and answers your questions in real-time, breaking down language barriers for effortless, intuitive data exploration.
- 3. Interactive Dashboard We're excited to announce that the Interactive Dashboard is now available to all GMI Pulse users, changing the way you interact with your data. With easy data filtering by region, segment, and more, you can focus on what matters most. The simple interface lets you make adjustments without technical skills, and real-time updates provide live insights as you work.
- 4. Tailor-Made Reports Access customized reports detailing market trends, technological developments, and innovations by industry leaders, tailored to your specific needs.
- 5. Priority Sales Support Receive best-in-class sales support and assistance promptly, enhancing your customer service experience.
- 6. Market Tracker Stay updated with streamlined access to all market trends and happenings, aiding in strategic planning and decision-making.
- 7. Pricing Benefits Obtain reports that are not only comprehensive but also cost-effective, tailored to fit your budget and needs.
Industry Focus: Construction
The construction industry is evolving rapidly with advancements in technology, sustainability initiatives, and changing market dynamics. GMIPulse provides in-depth insights into the following key clusters within the construction industry:
Construction Equipment
The construction equipment market is experiencing significant growth due to rapid technological progress, increasing labor shortages, and evolving customer demands. The construction-equipment sector is in the throes of a substantial change with demand being extremely unpredictable and new potentially paradigm-shifting technologies available, such as electrification and big data. Average manufacturing and construction wages have risen over 20% since the first quarter of 2020, reflecting strong demand for labor. In the United States alone, 41% of the pre-2020 construction labor force is forecast to retire by 2031, offering unprecedented opportunities for equipment automation and efficiency improvements.
The rental segment is a key growth driver in various equipment categories. The construction equipment rental market surpassed USD 147.4 billion in 2024 and is anticipated to exhibit approximately 6.2% CAGR between 2025 and 2034 due to the high cost of purchasing construction machines. Cranes rental market crossed USD 14.9 billion in 2023 and is expected to experience around 9% CAGR between 2024 and 2032 due to rising investment in infrastructure development.
Specialized segments of equipment show robust growth paths. The overall crane market size reached USD 26.3 billion in 2023 and is anticipated to witness a CAGR of 6.9% from 2024 to 2032, fueled by increased focus on sustainability in the heavy equipment and construction industries. Construction equipment attachments market surpassed USD 6.6 billion in 2023, and more than 4.6% CAGR estimated during 2032, demonstrating industry emphasis on diversity and special-purpose applications in road construction and instrumentation industries.
Construction Materials
The construction and building materials industry is changing rapidly due to green building requirements, urbanization, and the need for sustainable infrastructure. Statista reports that in 2021, the United States' producer price for building materials increased by about 26.8% and by 12.6% in 2022. This rise is driven by more investment in housing, commercial buildings, and transportation infrastructure, particularly in developing countries.
The shift to sustainable and bio-based materials is a key trend shaping the market. Straw bale construction is gaining popularity due to its excellent insulation, low embodied energy, and carbon-negative properties. The straw bale construction market is expected to grow at a rate of 5.6% CAGR until 2034, fueled by its increasing use in energy-efficient, low-rise buildings and eco-villages, especially in Europe and North America.
Key segments like concrete, steel, wood-based panels, and insulation are being transformed by technologies such as 3D printing, modular construction, and nanomaterials. These innovations help improve strength, energy efficiency, and durability. In addition, strict building energy codes and standards, including LEED, BREEAM, and IGBC, are encouraging developers and material suppliers to opt for greener choices.
Digital building technology, including Building Information Modeling (BIM), is also influencing material selection and lifecycle planning. Sustainability is not just a requirement; it also provides a competitive advantage. From high-performance thermal insulation to regenerative materials like straw bale, the future of building construction focuses on circularity, efficiency, and sustainability.
Construction Tech
The construction tech market is a transformational force enabling digital transformation for the global building sector through cutting-edge solutions that solve productivity, safety, and efficiency challenges. The digital transformation can lead to productivity improvement of 14 to 15 percent and cost savings of 4 to 6 percent for engineering and construction firms. Between 2020 and 2022, about $50 billion was spent on architecture, engineering, and construction technology. This marks an 85 percent increase compared to the three years before. The rise of digital skills could boost the chances of success for construction digitization by 2.5 times. This highlights the urgent need for training a workforce that understands technology.
The construction technology market is growing rapidly in different areas. This growth is driven by a greater demand for efficiency and digital integration. The big data analytics market in construction reached $8.4 billion in 2023 and is expected to grow at an annual rate of 11 percent from 2024 to 2032. The construction management software market reached USD 6.3 billion in 2023 and is expected to have 9.1% CAGR from 2024 to 2032 due to growing government plans for major commercial projects
New technologies are transforming conventional construction practices by offering improved safety measures and predictive analysis. The digital twin market was valued at USD 9.9 billion in 2023. It is expected to grow at a 33% compound annual growth rate (CAGR) from 2024 to 2032. This growth is supported by advancements in construction and other industries. Construction workflow automation software relies on Building Information Modeling (BIM) features, AI integration, and cloud-based platforms to automate project management and improve team collaboration. IoT sensors, wearables, AI-powered risk estimation, and predictive analytics allow for real-time monitoring of safety conditions and proactive risk management. This highlights the industry's focus on creating safer work environments.
Prefabricated Construction
The prefabricated construction market is a revolutionary method of construction that is changing conventional methods of construction with higher efficiency and quality control. Modular construction in the US and European markets has the potential to generate annual savings of up to $22 billion. Additionally, modular techniques allow home builders to shorten project timelines by 20 to 50 percent and reduce costs by up to 20 percent. The market size for modular in new building construction alone may be $130 billion by 2030 in Europe and the United States under conservative assumptions of penetration, indicating the large potential for growth in the industry.
The modular and prefabricated construction market globally shows strong growth paths across various applications. Modular & Prefabricated Construction Market stood at USD 155.3 billion as of 2023 and is expected to earn a CAGR of 5.7% from 2024 to 2032, owing to the surging demand for cost-effective housing as well as rising global investments in healthcare & commercial infrastructure development. Increasing urbanization & industrialization are likely to augment the number of new projects, especially in the commercial & industrial sectors.
Specialized prefabricated construction segments display outstanding performance. The pre-engineered building market stood at USD 19.2 billion in 2022 and is set to register a CAGR of 10.5% during 2023-2032. The use of sustainable materials and modern manufacturing technologies is propelling innovation with speedy uptake of sustainable materials in the construction industry and shifting towards green and energy-efficient construction works, where prefabricated options are preferred. Automations and digital technologies are improving precision manufacturing capability, facilitating mass customization at cost advantage and quality consistency in residential, commercial, and industrial uses.
GMIPulse offers unparalleled strategic value through its BI-enabled platform. With its customizable and interactive interface, accurate data, and comprehensive market insights, GMIPulse is your essential tool for staying ahead in the competitive construction market landscape. Subscribe today to unlock the full potential of your market research and strategic planning capabilities.
