PUBLISHER: The Business Research Company | PRODUCT CODE: 1664670
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664670
Retail buildings refer to structures that are constructed or intended for retail purposes. These structures encompass a range of retail establishments, from large warehouse-style buildings serving multiple businesses to smaller spaces housing individual retail enterprises.
The main types of construction activities related to retail buildings include building construction, heavy and civil engineering construction, and specialty trade contractors. Building construction involves various physical activities on the building site, encompassing the creation of structures, installation of paneling, exterior finishes, falsework, fixtures, service installations, and the unloading of plant equipment, supplies, and similar items. Materials used in retail building construction include aggregates, bricks, cement, ceramic facing and floor tiles, composites, glass, and others. These materials are employed in various types of construction, including both new construction and renovation projects for both residential and non-residential building applications.
The retail buildings market research report is one of a series of new reports from The Business Research Company that provides retail buildings market statistics, including retail buildings industry global market size, regional shares, competitors with a retail buildings market share, detailed retail buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the retail buildings industry. This retail 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 retail buildings market size has grown steadily in recent years. It will grow from $309.76 billion in 2024 to $319.35 billion in 2025 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to economic growth and consumer spending, urbanization and population density, consumer trends and shopping preferences, commercial real estate investment trends, government policies and zoning regulations.
The retail buildings market size is expected to see steady growth in the next few years. It will grow to $365.25 billion in 2029 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to sustainable building practices and green certification, adaptation to changing work patterns, mixed-use developments and urban revitalization, health and safety considerations in building design, community-centric and experiential retail trends. Major trends in the forecast period include contactless shopping and payment solutions, integration of social media and influencer marketing, customization and personalization in retail design, hybrid retail spaces, community-centric retail.
The global expansion of the commercial sector is expected to drive the growth of the retail buildings market in the future. The commercial sector encompasses facilities and equipment that provide services for enterprises, as well as federal, state, and local government operations, along with various private and public organizations, including religious, social, and fraternal groups. Retail facilities fall under this commercial sector, meaning that the growth of the commercial sector directly boosts the construction of retail buildings. For example, in October 2024, the UK Parliament, the supreme legislative body in the United Kingdom, reported that the retail sector generated an economic output of $144.01 billion in 2023, accounting for 4.7% of the UK's total economic output and reflecting a 2.2% increase compared to 2022. This growth highlights the retail industry's crucial contribution to the economy and emphasizes its resilience and potential for further development.
The robust growth in retail space is expected to propel the development of the retail buildings market in the coming years. Retail space, comprising commercial areas for selling goods or services to consumers, includes shopping centers, strip malls, and standalone stores. The expansion of major retailers such as Amazon, Walmart, and Target has spurred significant growth in retail space. This surge in growth is expected to drive new constructions for retail structures. As reported by the Wall Street Journal in July 2022, Amazon, a US-based e-commerce company, accelerated the expansion of its warehouse space to meet heightened consumer demand, increasing warehouse space from 165 million square feet to 379 million square feet. Furthermore, in 2022, WeWork India, an India-based space-as-a-service platform, secured a lease for 3.62 lakh square feet of office space as part of its flexible workspace expansion plan. Hence, the strong growth in retail space is fueling the growth of the retail market.
Technology adoption emerges as a prominent trend gaining popularity in the retail buildings market. Leading companies in the market are actively adopting innovative technologies to strengthen their positions. For example, in December 2022, Stereolabs Inc., a US-based company offering 3D depth and motion sensing solutions based on stereo vision and artificial intelligence, launched ZED-X, the world's first 3D robot camera with a new SDK (software development kit) and control for multiple cameras. ZED-X is designed for robotic process automation and navigation in challenging indoor and outdoor environments. The ZED-X is powered and supported by Stereolabs' comprehensive software ecosystem, facilitating quick commercial implementations of robots in construction.
Major companies operating in the retail buildings market are focused on the launch of generative AI models to enhance insights and client outcomes, thereby strengthening their positions in the market. A Generative AI Model refers to an artificial intelligence system designed to autonomously generate content, imitating or creating new data, images, text, audio, or videos. For instance, in August 2023, JLL, a US-based commercial real estate and investment management company, introduced JLL GPT(TM), the first large language model specifically built for the commercial real estate (CRE) industry. Developed by JLL Technologies (JLLT), the bespoke generative artificial intelligence (AI) model will be utilized by JLL's workforce of over 103,000 globally, providing CRE insights to clients in a novel way.
In October 2022, Bouygues S.A., a France-based construction company involved in planning, constructing, and managing projects across construction, infrastructure, and industrial sectors, acquired Equans for a deal value of $7.3 billion. Through this acquisition, Bouygues became a global leader in the potential multi-technical services industry, crucial for environmental, industrial, and digital transformations. The deal significantly increased the overall revenues of the Bouygues group from $41 billion to approximately $55 billion, and its workforce in over 80 countries expanded to around 200,000. Equans, the acquired company, is based in France and specializes in building services, mechanical and electrical construction, and industrial and energy infrastructure.
Major companies operating in the retail buildings market include Retail Construction Services Inc., Actividades de Construccion y Servicios S.A., Bouygues S.A., Hochtief AG, Skanska AB, Vinci SA, Pacific Crest Engineering Inc., Kneeland Construction Corporation, Shannon Waltchack LLC, Bechtel Corporation, Fluor Corporation, Whiting Turner Construction Company, Turner Construction Company, Gilbane Building Company, Hensel Phelps Construction Co., Gensler, CallisonRTKL Inc., Kimley-Horn and Associates Inc., Nelson Worldwide LLC, Core States Group, Stantec Inc., NORR Limited, WD Partners Inc., RSP Architects Ltd., GreenbergFarrow, HKS Architects Inc., Perkins + Will Inc., HNTB Corporation, Ware Malcomb, MG2 Corporation, Eppstein Uhen Architects Inc., HMC Architects, Corgan Associates Inc., Hord Coplan Macht Inc., Hammel Green and Abrahamson
Asia-Pacific was the largest region in the retail buildings market in 2024. North America is expected to be the retail buildings market report fastest-growing region in the forecast period. The regions covered in the retail buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the retail buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retail buildings market includes revenues earned by entities by providing services such as planning, developing, designing, procuring, constructing, and leasing single-store supermarkets, shopping centers, warehouse-type distribution centers, retail parks, mixed-use structures. 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.
Retail Buildings Global Market Report 2025 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 retail 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.
Where is the largest and fastest growing market for retail buildings ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.