PUBLISHER: MarketLine | PRODUCT CODE: 1761658
PUBLISHER: MarketLine | PRODUCT CODE: 1761658
Global Residential Construction industry profile provides top-line qualitative and quantitative summary information including: market size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Residential construction refers to the process of building structures primarily intended for people to live in. Market value refers to the total output value of construction activity in a specific year. Construction output value is defined as the total value of construction activity in any given period, including costs related to all materials, equipment, and services used.
The market is segmented into demolition, new construction, refurbishment, and repair & maintenance. Demolition refers to the dismantling or destruction of a residential building or part of one. New construction encompasses any work related to the creation of a new residential structure. The refurbishment segment involves upgrading or renovating an existing residential building. Repair & maintenance includes activities aimed at restoring or fixing deteriorated or damaged residential structures.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global residential construction market recorded revenues of $5,275,889.9 million in 2024, representing a compound annual growth rate (CAGR) of 2.7% between 2019 and 2024.
The new construction segment accounted for the market's largest proportion in 2024, with total revenues of $3,117,455.1 million, equivalent to 59.1% of the market's overall value.
In 2024, Asia-Pacific accounted for the largest share with a 41.3% share of the global residential construction market. It was followed by Europe with a 29.1% share and North America with a 24.5% share.