PUBLISHER: Allied Market Research | PRODUCT CODE: 1140228
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140228
The global building construction market was valued at $5,412.8 billion in 2021, and is projected to reach $11,121.9 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031. The scope of building construction market includes, revenue generated by sales of ready-mix concrete, precast product, and components for construction of buildings and other infrastructure. Building construction includes the construction of new buildings, demolition of buildings, and making necessary alterations to the existing building.
Rise in new construction projects and redevelopment or repairing of old buildings is the major driving factor for the growth of the building construction market. In addition, adoption of certain green building materials saves a lot of construction time as well as avoids wastage of material, further giving cost effective solution. Moreover, development of manufacturing technology along with new and advanced machinery drives the building construction market around the globe.
However, high investments to initially setup new manufacturing facility for construction materials acts as a restraint for the market growth. Moreover, rise in use of sustainable building material hinders the growth of the building construction market.
On the contrary, rise in development plans in emerging countries is expected to act as an opportunity for the building construction market growth during the forecast period.
The building construction market is segmented on the basis of type, end user, construction type, application, and region. On the basis of type, it is further classified into residential and non-residential. By end user, it is divided into private and public. By construction type, it is categorized into owned and rental. Based on application, it is categorized into new construction and renovation. Region-wise, the building construction market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in the global building construction market include, ACS, Actividades De Construction Services, Bouygues SA, China Evergrande Group, China State Construction Engineering Corporation Ltd., Country Garden Holdings Co. Ltd., Daiwa House Group, D.R. Horton Inc., Greenland Holding Group, HOCHTIEF, Lennar Corporation, Power Construction Corp of China, Skanska, Sunac China Holdings Ltd., The Metallurgical Corp of China, and VINCI.
Key Benefits For Stakeholders
Key Market Segments
By Type
By Construction Type
By Application
By End User
By Region