Dublin, April 8, 2021 (GLOBE NEWSWIRE) – The “2021 Global Building Construction Market Report: Impact and Recovery of COVID-19 by 2030” report was added to ResearchAndMarkets.com’s offer.
The global building construction market is expected to grow from $ 5878.86 billion in 2020 to $ 6454.05 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the reorganization of company operations and the recovery of the impact of COVID-19, which had previously led to restrictive measures to contain social distance, remote work and close commercial activities that resulted in operational challenges. The market is expected to reach $ 8751.56 billion in 2025 at an 8% CAGR.
Asia-Pacific was the largest region in the global building construction market, accounting for 44% of the market in 2020. North America was the second largest region, accounting for 27% of the global building construction market. Africa was the smallest region on the market.
Construction companies are increasingly using green construction techniques to construct energy-efficient buildings and reduce construction costs. Green building refers to the practice of using sustainable building materials and construction processes to create buildings with energy efficiency and minimal environmental impact. According to the World Green Building Trends Survey 2015, about 51% of construction companies in the UK were involved in green building projects. Certifications such as Energy Leadership and Environmental Design (LEED) help construction companies develop high-performance, sustainable residential and commercial buildings, as well as offering a variety of benefits, from tax deductions to marketing opportunities. Sustainable building materials, such as natural paints and steel beams made from recycled material, are being used extensively in the UK. Other green building techniques, such as cross ventilation for a more natural environment, green building software like Construction Suite to ensure ecological compliance and the Green Globes management tool are also being used in the construction industry. For example, some of the leading companies that use green construction techniques include Turner Construction Co, Clark Group, AECOM, Hensel Phelps and Holder Construction.
Building construction costs have increased steadily due to rising material costs in the historic period. Companies in the sector experienced moderate growth in profits with rising prices for materials such as crude oil, a key component of asphalt that increased 49%, and sawn wood, an important component used in building construction, which increased 23% during the historical period. In 2018, cement prices increased 2.5% and plumbing and accessories increased 3% in the USA. High material prices have negatively affected the building construction market during the historic period.
The population profile of most countries is aging, increasing the demand for age-friendly infrastructure. According to estimates based on data from the US Population Reference Bureau, the global population over 65 has increased by about 33% between 2013-2017, from 450 million to 601 million. Thus, the demand for infrastructure improvements that are friendly to the “elderly” has increased during the historic period. The wider houses and surroundings had to be adapted to become more secure and inclusive. Better residential and also non-residential buildings had to be more accessible to the elderly. This resulted in an increase in building construction activity.
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 history of the market and predicts the market growth by geography. It places the market in the context of the broader building construction market and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section provides the market size ($ b), covering the historical growth of the market, the impact of the COVID-19 virus and the forecast of its recovery.
- Market segmentations divide the market into submarkets.
- The regional and country breakdown section provides an analysis of the market in each geography and the size of the market by geography and compares its historical and predicted growth. It covers the impact and recovery trajectory of COVID-19 for all regions, main developed countries and main emerging markets.
- The competitive landscape provides a description of the competitive nature of the market, market shares and a description of the leading companies. The main financial businesses that have shaped the market in recent years are identified.
- The trends and strategies section analyzes the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The building construction market section of the report compares the building construction market with other segments of the construction market by size and growth, history and forecast. It analyzes the proportion of GDP, expenditure per capita, comparison of building construction indicators.
- China State Construction Engineering Co Ltd
- D.R. Horton Inc
- China Railway Construction Corporation Limited
- Lennar Corporation
- Kiewit Building Group
For more information on this report, visit https://www.researchandmarkets.com/r/vrqml6
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