Dublin, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The "Buildings Construction Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global building construction market is expected to grow from $6529.74 billion in 2021 to $ 7361.37 billion in 2022 at a compound annual growth rate of 12.7%. The market is expected to reach $ 11475.81 billion in 2026 at a CAGR of 11.7%.
Asia Pacific was the largest region in the building construction market in 2021. North America was the second-largest region in the building construction market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The population profile of most countries is becoming older, increasing the demand for elderly friendly infrastructure. According to the United Nations, in 2019, the world's population of people aged 65 and up totalled 703 million. In 2050, the number of elderly people is expected to increase to 1.5 billion. So, the demand for infrastructural improvements which is 'elderly' friendly will increase during the forecast period. Houses and the wider surroundings had to be adapted to be made safer and more inclusive. Better residential as well nonresidential buildings had to be made more accessible to the elderly. This resulted in increased buildings construction activity.
Building construction companies are increasingly using green construction techniques to build energy efficient buildings and reduce construction costs. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. In UK, certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits, from tax deductions to marketing opportunities. Sustainable construction materials such as natural paints and steel beams made from recycled material are being widely used in the UK. Other green construction techniques such as cross-ventilation for more natural environment, green construction software such as Construction Suite to ensure green compliance, and Green Globes management tool are also being used in the construction industry. For instance, some, major companies using green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps and Holder Construction.
Building construction costs are increasing steadily due to rising material costs. Companies in the industry experienced subdued growth in their profits with rising prices of materials such as crude oil, a key component of asphalt increased by 58% in 2021 from the year 2020 . According to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics, in the US, prices paid for items used in residential construction jumped 1.7% in April 2021 and have increased by 12.4% over the last 12 months. According to the National Association of Home Builders (NAHB), softwood lumber prices jumped 6.5 percent in April 2021, marking a new high for the third month in a row. Since November 2020, lumber prices have risen by 52.0 percent. High material prices will adversely affect the buildings construction market during forecast period.
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. It places the market within the context of the wider buildings construction market, and compares it with other markets.
Report Scope
Markets Covered:
- By Type: Residential Building Construction; Nonresidential Building Construction
- By End User Sector: Private; Public
- By Building Type: Smart Buildings; Traditional Buildings
Subsegments Covered: Single-Family Housing Construction (Individual Houses); Multifamily Housing Construction (Apartments); New Housing For-Sale Builders; Residential Remodelers; Institutional Buildings; Commercial Buildings
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
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, buildings construction indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Companies Mentioned
- China State Construction Engineering Corporation Ltd.
- China Evergrande Group
- Country Garden Holdings Co. Ltd.
- Sunac China Holdings Ltd.
- Greenland Holding Group
- Daiwa House Group
- Lennar Corporation
- D.R. Horton Inc.
- Bouygues SA
- The Metallurgical Corp of China
For more information about this report visit https://www.researchandmarkets.com/r/pm11zs
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
