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Global Buildings Construction Market Achieves Remarkable Growth, Projected to Reach $9596.54 Billion by 2027

The Business Research Company’s Buildings Construction Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

Buildings Construction Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

The Business Research Company’s Buildings Construction Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

The buildings construction market is expected to grow to $9596.54 billion in 2027 at a CAGR of 6.2%.”

— The Business Research Company

LONDON, GREATER LONDON, UK, December 6, 2023 / — The global buildings construction market demonstrated robust growth, surging from $7079.99 billion in 2022 to $7557.41 billion in 2023, registering a noteworthy compound annual growth rate (CAGR) of 6.7%. Projections indicate continued expansion, foreseeing the market to attain $9596.54 billion by 2027, with a slightly moderated CAGR of 6.2%.

Elderly-Friendly Infrastructure Drives Market Expansion
The shifting demographic landscape, characterized by an aging population globally, is a pivotal factor propelling the buildings construction market. According to the World Health Organization (WHO), the number of individuals aged 80 and older is anticipated to triple by 2050, reaching 426 million. Furthermore, the population aged 60 and over is expected to double, reaching 2.1 billion. This demographic shift underscores the demand for infrastructure catering to the elderly. The need for safer and more inclusive residential and non-residential structures has led to increased building construction activities.

Major Players and Market Dynamics
Key players shaping the buildings construction market landscape include China State Construction Engineering Corporation Ltd., China Evergrande Group, Country Garden Holdings Co Ltd., Sunac China Holdings Ltd., and Greenland Holding Group. These industry leaders play a crucial role in steering market trends and innovation.

Explore comprehensive insights into the global buildings construction market with a detailed sample report:

Escalating Construction Costs Challenge Industry Profits
The building construction industry faces the challenge of steadily increasing construction costs attributed to rising material expenses. Companies within the sector experienced restrained profit growth due to escalating prices of materials such as crude oil. For instance, asphalt, a key component, witnessed a 58% increase in 2021 compared to 2020. The rising cost trend extends to the US, where residential construction materials surged by 12.4% over the last 12 months, according to the Producer Price Index (PPI) released by the Bureau of Labour Statistics.

Asia-Pacific Leads the Market, North America Follows
Asia-Pacific emerged as the largest region in the buildings construction market in 2022, expected to maintain its position as the fastest-growing region. North America secured the second-largest position, reflecting the market’s dynamic global presence. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Market Segmentation
The global buildings construction market is intricately segmented based on:
• Residential Building Construction
• Nonresidential Building Construction
2.End User Sector:
• Private
• Public
3.Building Type:
• Smart Buildings
• Traditional Buildings

Access the complete report for in-depth analysis:

Buildings Construction Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Buildings Construction Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on buildings construction market size, buildings construction market drivers and buildings construction market trends, buildings construction market major players, buildings construction market competitors’ revenues, market positioning, and market growth across geographies. The buildings construction market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

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