Dublin, April 06, 2021 (GLOBE NEWSWIRE) -- The "Nonresidential Building Construction Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global nonresidential building construction market is expected to grow from $2389.41 billion in 2020 to $2675.38 billion in 2021 at a compound annual growth rate (CAGR) of 12%.
Major companies in the non-residential building construction market include Clark Construction Group; Turner Construction; Whiting-Turner Contracting; Balfour Beatty and China State Construction Engineering Corporation.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3557.79 billion in 2025 at a CAGR of 7%.
Asia Pacific was the largest region in the global nonresidential building construction market, accounting for 44% of the market in 2020. North America was the second largest region accounting for 30% of the global nonresidential building construction market. Africa was the smallest region in the global nonresidential building construction market.
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. According to World Green Building Trends Survey 2015, about 51% of construction firms in the UK were involved in green construction projects. 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.
The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the non-residential building construction market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings, during the forecast period. Globally, around 60% of the urban settlements remained to be built. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasingly popular for export-oriented manufacturing.
According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drive the non-residential building construction market during the forecasted period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Nonresidential Building Construction Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Nonresidential Building Construction Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Nonresidential Building Construction Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Nonresidential Building Construction Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Nonresidential Building Construction Market Trends and Strategies
8. Impact of COVID-19 on Nonresidential Building Construction
9. Nonresidential Building Construction Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Nonresidential Building Construction Market Regional Analysis
10.1. Global Nonresidential Building Construction Market, 2020, by Region, Value ($ Billion)
10.2. Global Nonresidential Building Construction Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Nonresidential Building Construction Market, Growth and Market Share Comparison, by Region
11. Nonresidential Building Construction Market Segmentation
11.1. Global Nonresidential Building Construction Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Institutional Buildings
- Commercial Buildings
11.2. Global Nonresidential Building Construction Market, Segmentation by End User Sector, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Private
- Public
11.3. Global Nonresidential Building Construction Market, Segmentation by Buidling Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Non residential Smart Buildings
- Traditional Buildings
12. Nonresidential Building Construction Market Segments
12.1. Global Institutional Buildings Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Education Buildings; Public Convenience Buildings; Government Buildings; Religious Buildings; Healthcare Buildings
12.2. Global Commercial Buildings Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Office and Factory Buildings; Hospitality and Restaurant Buildings; Entertainment and Sports Buildings; Retail and Other Commercial Buildings
13. Nonresidential Building Construction Market Metrics
13.1. Nonresidential Building Construction Market Size, Percentage of GDP, 2015-2025, Global
13.2. Per Capita Average Nonresidential Building Construction Market Expenditure, 2015-2025, Global
Companies Mentioned
- Clark Construction Group
- Turner Construction
- Whiting-Turner Contracting
- Balfour Beatty
- China State Construction Engineering Corporation
For more information about this report visit https://www.researchandmarkets.com/r/tpa6u