Office Buildings Global Market Report 2024

Description

“Office Buildings Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on office buildings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for office buildings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The office buildings market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Building Type: Smart Buildings; Traditional Buildings
2) By Construction Type: New Construction; Renovation
3) By Application: Owned; Rental
4) By End User: Private; Public
Companies Mentioned: Kiewit Building Group Inc.; Toll Brothers Inc.; CBRE Group Inc.; Bouygues S.A.; Jacobs Solutions Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An office building is a commercial structure designed with spaces dedicated to offices, serving as a facility primarily for business operations such as administration, clerical services, consulting, and various client services, excluding retail sales.

Office buildings are broadly categorized into smart buildings and traditional buildings. Smart buildings, or smart facilities, leverage information and communications technology systems, services, and technologies to optimize facility performance. The construction types, including new construction and renovation, find application in various ownership models such as owned and rental, catering to both private and public end users.

The office buildings market research report is one of a series of new reports from The Business Research Company that provides office buildings market statistics, including office buildings industry global market size, regional shares, competitors with an office buildings market share, detailed office buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the office buildings industry. This office buildings 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.

The office buildings market size has grown marginally in recent years. It will grow from $580.89 billion in 2023 to $591.8 billion in 2024 at a compound annual growth rate (CAGR) of 1.9%. The growth observed in the historical period can be attributed to factors such as economic growth and business expansion, urbanization and the development of commercial centers, corporate relocation and consolidation, the evolution of workplace culture, and the influence of government policies and zoning regulations.

The office buildings market size is expected to see steady growth in the next few years. It will grow to $643.49 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of sustainability and green building practices, the rise of remote work and flexible office spaces, increased technological integration for efficiency, the development of mixed-use properties, and a focus on corporate wellness and employee experience. Prominent trends in this period encompass a heightened emphasis on employee experience, the incorporation of biophilic design elements, the integration of contactless technologies, the use of agile and adaptable office furniture, and efforts toward retrofitting for energy efficiency.

The growth of the office buildings market is anticipated to be propelled by the demand from expanding companies. Business expansion involves an organization's efforts to widen its operations and increase revenue. As organizations grow, there is an increased need for additional office space to accommodate new employees complementing the expanded operations. A study conducted in October 2022 on 500 UK-based SMEs by Airwallex revealed that in 2023, 70% of businesses plan to expand into foreign markets. Out of these, 64% will focus on Europe and North America, while 34% are gearing up to expand into the Middle East, Latin America, Africa, and Asia-Pacific. Consequently, the demand from expanding companies is a significant driver of the office buildings market's growth.

The growth of the office buildings market is also expected to be driven by the increasing demand for flexible workspace. Flexible workspace refers to an office environment that offers various workspaces and services on a flexible basis, catering to diverse work styles and preferences. The rise of remote work and flexible arrangements has led to a heightened demand for office spaces that can adapt to these evolving needs. For example, WeWork India, a co-working company, leased 3.62 lakh square feet of office space in Bengaluru in October 2022 as part of its expansion strategy. This move aligns with WeWork India's broader strategy to meet the changing needs of India's workforce as it transitions to a hybrid working model. Thus, the increasing demand for flexible workspace is a driving force in the office buildings market.

A key trend gaining popularity in the office buildings market is the emphasis on sustainability and energy-efficient offices. Major companies in the sector are focusing on sustainable practices to align with carbon net-zero goals and meet the expectations of the new generation of workers. In March 2023, Adobe completed its sustainable office in San Jose, California, utilizing renewable energy sources such as solar and wind power, special glass for insulation, and a robust recycling system. The commitment to sustainability reflects a growing trend in the industry.

Major companies in the office buildings sector are leveraging digital twin technology for the development of office buildings. Digital twin technology involves creating a virtual replica of physical objects, systems, or processes for real-time monitoring, analysis, and optimization. Microsoft Corporation, for instance, launched a smart building complex in October 2023 that showcases its Azure Digital Twins service. This service allows customers to digitally model their physical spaces and integrate real-time location data. The smart building complex is equipped with IoT sensors for occupancy detection, integrating data on movements, meeting schedules, and desk assignments to enhance efficiency.

In April 2022, Cianbro Corp., a construction company, acquired R. C. Stevens Construction Company for an undisclosed amount. This strategic acquisition enables both companies to establish a permanent presence in the Southeast and creates new growth opportunities. R. C. Stevens Construction Company, based in Florida, specializes in the construction of office buildings.

Major companies operating in the office buildings market report are Kiewit Building Group Inc., Toll Brothers Inc., CBRE Group Inc., Bouygues S.A., Jacobs Solutions Inc., China Railway Construction Corporation Limited, Power Construction Corp., China State Construction Engineering Co. Ltd., Jones Lang LaSalle Inc., Colliers International India Property Services Pvt. Ltd., Skanska AB, Gilbane Building Company, Holcim Ltd., The Korte Company, W.G. Yates & Sons Construction Co., Cushman & Wakefield plc, Newmark Knight Frank, Transwestern Development Company, Marcus & Millichap Inc., HFF Inc., Eastdil Secured International Ltd., Savills plc, Avison Young Inc., New American International, Kidder Mathews Inc., Lee & Associates Commercial Real Estate Services., CollabNet Inc., Berkshire Hathaway HomeServices, Keller Williams Realty Inc., Century 21 Department Stores LLC, Coldwell Banker Real Estate LLC, RE/MAX LLC, Sotheby's International Realty LLC, Simon Property Group plc, Kilroy Realty Corp., Realty Income Corporation, Prologis Inc., Alexandria Real Estate Equities Inc., Boston Properties Inc., Vornado Realty Trust .

Europe was the largest region in the office buildings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the office buildings market report during the forecast period. The regions covered in the office buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the office buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The office building market includes revenues earned by entities by planning, developing, designing, procuring, constructing, and leasing of public or private office buildings. 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.

Product Code: r11185

1. Executive Summary

2. Office Buildings Market Characteristics

3. Office Buildings Market Trends And Strategies

4. Office Buildings Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Office Buildings Market Size and Growth

5.1. Global Office Buildings Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Office Buildings Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Office Buildings Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Office Buildings Market Segmentation

6.1. Global Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Smart Buildings
Traditional Buildings
6.2. Global Office Buildings Market, Segmentation By Construction Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
New Construction
Renovation
6.3. Global Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Owned
Rental
6.4. Global Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Private
Public

7. Office Buildings Market Regional And Country Analysis

7.1. Global Office Buildings Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Office Buildings Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Office Buildings Market

8.1. Asia-Pacific Office Buildings Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Office Buildings Market

9.1. China Office Buildings Market Overview
9.2. China Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Office Buildings Market

10.1. India Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Office Buildings Market

11.1. Japan Office Buildings Market Overview
11.2. Japan Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Office Buildings Market

12.1. Australia Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Office Buildings Market

13.1. Indonesia Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Office Buildings Market

14.1. South Korea Office Buildings Market Overview
14.2. South Korea Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Office Buildings Market

15.1. Western Europe Office Buildings Market Overview
15.2. Western Europe Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Office Buildings Market

16.1. UK Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Office Buildings Market

17.1. Germany Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Office Buildings Market

18.1. France Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Office Buildings Market

19.1. Italy Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Office Buildings Market

20.1. Spain Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Office Buildings Market

21.1. Eastern Europe Office Buildings Market Overview
21.2. Eastern Europe Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Office Buildings Market

22.1. Russia Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Office Buildings Market

23.1. North America Office Buildings Market Overview
23.2. North America Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Office Buildings Market

24.1. USA Office Buildings Market Overview
24.2. USA Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Office Buildings Market

25.1. Canada Office Buildings Market Overview
25.2. Canada Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Office Buildings Market

26.1. South America Office Buildings Market Overview
26.2. South America Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Office Buildings Market

27.1. Brazil Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Office Buildings Market

28.1. Middle East Office Buildings Market Overview
28.2. Middle East Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Office Buildings Market

29.1. Africa Office Buildings Market Overview
29.2. Africa Office Buildings Market, Segmentation By Building Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Office Buildings Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Office Buildings Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Office Buildings Market Competitive Landscape And Company Profiles

30.1. Office Buildings Market Competitive Landscape
30.2. Office Buildings Market Company Profiles
- 30.2.1. Kiewit Building Group Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Toll Brothers Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. CBRE Group Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Bouygues S.A.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Jacobs Solutions Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Office Buildings Market Competitive Benchmarking

32. Global Office Buildings Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Office Buildings Market

34. Office Buildings Market Future Outlook and Potential Analysis

34.1 Office Buildings Market In 2028 - Countries Offering Most New Opportunities
34.2 Office Buildings Market In 2028 - Segments Offering Most New Opportunities
34.3 Office Buildings Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer