PUBLISHER: The Business Research Company | PRODUCT CODE: 1435383
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435383
Foundation, structure, and building exterior contractors are specialized subcontractors focusing on specific components of construction projects, such as excavation, demolition, roofing, and more, adhering to detailed construction designs and plans.
Primary segments within this contractor market include excavation and demolition, roofing, concrete work, and water well drilling. Water well drilling contractors specialize in boring holes to access natural water sources, catering to irrigation, commercial, industrial, and residential needs. Service providers range from large chain companies to independent contractors, offering their services through various channels, both online and offline. These services find applications in residential and non-residential building construction, among other sectors.
The foundation, structure, and building exterior contractors market research report is one of a series of new reports from The Business Research Company that provides the foundation, structure, and building exterior contractors market statistics, including foundation, structure, and building exterior contractors industry global market size, regional shares, competitors with a foundation, structure, and building exterior contractors market share, detailed foundation, structure, and building exterior contractors market segments, market trends and opportunities, and any further data you may need to thrive in the foundation, structure, and building exterior contractors industry. This foundation, structure, and building exterior contractors 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 foundation, structure, and building exterior contractors market size has grown steadily in recent years. It will grow from $1156.85 billion in 2023 to $1203.93 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth observed in the historical period can be attributed to various factors, including the expansion of construction activities, infrastructure development, government policies and regulations impacting the industry, dynamics within the real estate market, and heightened considerations for environmental aspects within construction projects.
The foundation, structure, and building exterior contractors market size is expected to see steady growth in the next few years. It will grow to $1450.61 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. Forecasted growth is tied to resilient and sustainable construction, renewable energy projects, infrastructure renewal, population migration, and climate change adaptation. Major trends include digitalization in construction, smart building tech, advancements in construction tech, prefabrication, modular construction, and a focus on resilient infrastructure.
The foundation, structure, and building exterior contractors market is anticipated to experience increased demand due to the rapidly growing urban population, particularly in the forecast period. According to the UN World Urbanization Prospects report, it is projected that over 60% of the global population will reside in cities by 2050. This surge in urbanization is expected to lead to a heightened demand for new residential and commercial land. Opportunities are particularly abundant in Asian countries such as Indonesia, Vietnam, and the Philippines, which are gaining popularity for export-oriented manufacturing. The World Bank predicts that the urban population in South Asia will grow by 250 million by 2030. The ensuing rapid urbanization is poised to drive the demand for new infrastructure, subsequently benefiting the foundation, structure, and building exterior contractors market during the forecast period.
The upward trajectory in the construction industry is expected to fuel the growth of the foundation, structure, and building exterior contractors market. The construction industry, involving the planning, design, construction, and maintenance of structures and facilities, spans residential, commercial, and civil engineering projects. Foundation, structure, and building exterior contractors play a crucial role in this industry, providing essential groundwork, structural frameworks, and exterior components necessary for constructing secure and functional buildings and infrastructure. For instance, in June 2023, data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development revealed that privately owned home starts in May 2023 were at a seasonally adjusted annual pace of 1,631,000, reflecting a 21.7% increase from the revised April 2023 prediction of 1,340,000 and a 5.7% rise from the May 2022 rate of 1,543,000. Additionally, the number of privately owned home completions in May 2023 stood at 1,518,000 on a seasonally adjusted yearly basis, showcasing a 5.0% increase over the May 2022 rate of 1,446,000 and a 9.5% uptick from the revised April 2023 estimate of 1,386,000. Consequently, the thriving growth of the construction industry is anticipated to be a driving force behind the foundation, structure, and building exterior contractor market during the forecast period.
Health and safety concerns have consistently been a significant focal point within the foundation, structure, and building exterior contractor industries. Construction activities inherently pose challenges to worker safety, encompassing tasks such as working at heights, in confined spaces, underground, and in proximity to falling materials. Other safety risks include manual handling of loads, exposure to hazardous substances, operation of plant and equipment, fire hazards, and potential exposure to live cables. As an illustration, data from "25 Construction Safety Statistics for 2021" indicates that, while the American construction industry comprises 6% of the U.S. workforce, it experiences approximately 20% of fatalities, the highest fatality rate compared to other industries. Inadequate safety and health measures not only impact the well-being of workers but also have negative consequences for the foundation, structure, and building exterior contractors and the built environments they contribute to, leading to fatalities, injuries, and diseases.
Contractors are increasingly incorporating building-integrated photovoltaic (BIPV) glazing technology for electricity generation to address environmental concerns and promote sustainable practices. BIPV systems integrate solar cells or modules into building elements or materials as integral components of the building structure. Unlike as traditional rooftop photovoltaic systems with limited surface areas, BIPV photovoltaic cells are seamlessly integrated into various building components such as cladding materials, shingles, or windows. This integration allows almost any building element, including the roof, facade, windows, canopies, or balcony railings, to harness solar energy and generate electricity. Consequently, buildings equipped with BIPV technology can autonomously generate a substantial portion of their electricity from a clean and renewable energy source. Companies such as AGC Inc., Avenston Group, BELECTRIC, BiPVco, and Canadian Solar exemplify those actively engaged in the development and implementation of building-integrated photovoltaics.
Major players within the foundation, structure, and building exterior contractor market are actively pursuing innovation, introducing novel platforms such as hydrogen platforms to enhance their market profitability. An example of a pre-built cloud-based analytics application is Honeywell Forge Real Estate Operations. This Software-as-a-Service (SaaS) solution integrates Honeywell's building data, Internet of Things (IoT) sensor data, and building management system insights with SAP's financial, employee, and real estate data. In May 2021, Honeywell International, Inc., a prominent US-based advanced-technology company, unveiled this cloud-based solution designed for building owners and managers. The innovative platform streamlines the integration of operational and business data, facilitating more informed decision-making, increased operational efficiencies, and the achievement of sustainability goals.
Major companies operating in the foundation, structure, and building exterior contractors market report are 3M Company, Laboratory Corporation of America Holdings, Ecolab Inc., Eurofins Scientific SE, SGS SA, Agilent Technologies Inc., Bureau Veritas S.A., Intertek Group plc, bioMerieux SA, Bio-Rad Laboratories Inc., TUV Nord Group, ALS Limited, Neogen Corporation, Douglas Scientific LLC, National Sanitation Foundation International, AsureQuality Limited, FoodChain ID Inc., Microbac Laboratories Inc., Romer Labs Inc., Charm Sciences Inc., MP Biomedicals LLC, RJ Hill Laboratories Ltd., Symbio Laboratories Pty Ltd., BioControl Systems Incorporated, Mocon Inc., Celsis International Ltd., Genetic ID NA Inc., Roka Bioscience Inc., Zeulab SL, TUV SUD AG
Asia-Pacific was the largest region in the foundation, structure, and building exterior contractors market in 2023. North America was the second-largest region in the foundation, structure, and building exterior contractors market. The regions covered in the foundation, structure, and building exterior contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the foundation, structure, and building exterior contractors market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The foundation, structure, and building exterior contractors market include revenues earned by entities by additions, alterations, maintenance, and repairs. 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.
Foundation, Structure, And Building Exterior Contractors 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 foundation, structure, and building exterior contractors 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 foundation, structure, and building exterior contractors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The foundation, structure, and building exterior contractors 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 impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.