Dublin, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The "Nonresidential Building Construction Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
his comprehensive report provides valuable insights into the global nonresidential building construction market, including market size, growth trends, key players, and growth opportunities.
Market Overview:
The nonresidential building construction market, which includes the construction of hotels, restaurants, educational buildings, healthcare buildings, and other nonresidential structures, demonstrated robust growth, increasing from $2,791.54 billion in 2022 to $2,903.75 billion in 2023, with a remarkable compound annual growth rate (CAGR) of 4.0%. Despite challenges posed by the Russia-Ukraine war and the lasting impact of COVID-19, the market is projected to continue growing and reach an estimated value of $3,294.4 billion by 2027, with a CAGR of 3.2% during the forecast period.
Market Segmentation:
The report segments the nonresidential building construction market based on type into institutional buildings and commercial buildings. Furthermore, it categorizes the market by end-user sector into private and public, and by building type into nonresidential smart buildings and traditional buildings. Additionally, the report provides insights into subsegments such as education buildings, public convenience buildings, government buildings, religious buildings, healthcare buildings, office and factory buildings, hospitality and restaurant buildings, entertainment and sports buildings, and retail and other commercial buildings.
Green Construction and Sustainable Practices:
Building construction companies are increasingly adopting green construction techniques to build energy-efficient buildings and reduce construction costs. Green construction involves using sustainable building materials and processes to create energy-efficient structures with minimal environmental impact. Certifications like Leadership in Energy and Environmental Design (LEED) help companies develop high-performance, sustainable residential and commercial buildings while offering various benefits, including tax deductions and marketing opportunities.
Regional Insights:
Asia-Pacific dominated the nonresidential building construction market in 2022, with North America as the second-largest region. The report also covers other regions, including Western Europe, Eastern Europe, South America, Middle East, and Africa.
Key Drivers:
The market's growth is driven by the rapidly growing urban population, which is expected to increase the demand for new residential and commercial buildings during the forecast period. With projections that more than two-thirds of the world's population will be living in cities by 2050, opportunities for new infrastructure are expected to arise in countries like Indonesia, Vietnam, and the Philippines, which are becoming popular for export-oriented manufacturing.
Reasons to Purchase:
- Gain a global perspective with the most comprehensive report available, covering 50+ geographies.
- Understand the impact of COVID-19 on the market and its response as the situation improves.
- Assess the influence of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and its implications for the nonresidential building construction market.
- Measure the market's response to high global inflation.
- Create regional and country strategies based on local data and analysis.
- Identify investment opportunities in growth segments.
- Outperform competitors using forecast data and market trends.
- Understand customer preferences based on the latest market shares.
- Benchmark performance against key competitors.
- Utilize reliable high-quality data and analysis for internal and external presentations.
Key Questions Answered:
- Where is the largest and fastest-growing market for nonresidential building construction?
- How does the market relate to the overall economy, demography, and other similar markets?
- What forces will shape the market going forward?
Companies Mentioned:
- Shanghai Construction Group Co., Ltd.
- Bouygues SA
- Greenland Holding Group
- Obayashi Corporation
- Daiwa House Group
- The Metallurgical Corp of China
- Sunac China Holdings Ltd.
- Kajima Corporation
- Brookfield Asset Management
- Sekisui House
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2903.75 billion |
| Forecasted Market Value (USD) by 2027 | $3294.4 billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/nm4uvc
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