Dublin, Feb. 10, 2021 (GLOBE NEWSWIRE) -- The "Building Equipment Contractors Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global building equipment contractors market as it emerges from the COVID-19 shut down.
The global building equipment contractors market is expected to grow from $1744.65 billion in 2020 to $1914.24 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. 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 $2426.11 billion in 2025 at a CAGR of 6%.
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Description:
Where is the largest and fastest growing market for the building equipment contractors? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Building Equipment Contractors market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider building equipment contractors market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The building equipment contractors market section of the report gives context. It compares the building equipment contractors market with other segments of the specialty trade contractors market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, building equipment contractors indicators comparison.
Asia Pacific was the largest region in the global building equipment contractors market, accounting for 39% of the market in 2020. North America was the second largest region accounting for 24% of the global building equipment contractors market. Africa was the smallest region in the global building equipment contractors market.
Smart wearable is paving their way into the building equipment contractors market and are being used by supervisors for monitoring operations. Wearable technology in the construction industry will not only have value for workers but can also enhance a company's ability to manage safety. Wearable are devices that generally include a computer or electronic device, worn on the body, personal protective equipment, or clothing. Sensing wearable like the smart cap, badges, and biosensors evaluate real-time data like location, impact, motion, temperature, and vital signs. Microsoft's device, HoloLens, allows users to use augmented or mixed reality on the job site. Users can overlay 3D building plans over a site. The plans are to scale so project managers can actually see how things will work and fit on the site, reducing the rework requirement. Skanska, a US-based construction firm, has collaborated with Redpoint, another US-based safety equipment manufacturer, to develop a vest that tracks the wearer's location, and sends LED warning signals when entering a designated area.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the non-residential building construction market in 2020 as supply chains were disrupted due to trade restrictions and construction activities were affected due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Construction companies depend on supply of raw materials and equipment from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, companies had to halt construction activities due to lack of equipment and raw material. 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 drives the building equipment contractors market during the forecasted period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Building Equipment Contractors Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Building Equipment Contractors Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Building Equipment Contractors Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Building Equipment Contractors Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Building Equipment Contractors Market Trends And Strategies
8. Impact Of COVID-19 On Building Equipment Contractors
9. Building Equipment Contractors 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. Building Equipment Contractors Market Regional Analysis
10.1. Global Building Equipment Contractors Market, 2020, By Region, Value ($ Billion)
10.2. Global Building Equipment Contractors Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Building Equipment Contractors Market, Growth And Market Share Comparison, By Region
11. Building Equipment Contractors Market Segmentation
11.1. Global Building Equipment Contractors Market, Segmentation By Type
11.2. Global Building Equipment Contractors Market, Segmentation By Application
11.3. Global Building Equipment Contractors Market, Segmentation By Service Provider
11.4. Global Building Equipment Contractors Market, Segmentation By Mode
12. Building Equipment Contractors Market Metrics
12.1. Building Equipment Contractors Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Building Equipment Contractors Market Expenditure, 2015-2025, Global
13. Asia-Pacific Building Equipment Contractors Market
14. Western Europe Building Equipment Contractors Market
15. Eastern Europe Building Equipment Contractors Market
16. North America Building Equipment Contractors Market
17. South America Building Equipment Contractors Market
18. Middle East Building Equipment Contractors Market
19. Africa Building Equipment Contractors Market
20. Building Equipment Contractors Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Bergelectric
20.3.1.1. Company Overview
20.3.1.2. Products And Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. EMCOR Group
20.3.2.1. Company Overview
20.3.2.2. Products And Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. IES Holdings
20.3.3.1. Company Overview
20.3.3.2. Products And Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. ARS/Rescue Rooter
20.3.4.1. Company Overview
20.3.4.2. Products And Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. Comfort Systems
20.3.5.1. Company Overview
20.3.5.2. Products And Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance
21. Key Mergers And Acquisitions In The Building Equipment Contractors Market
22. Market Background: Specialty Trade Contractors Market
22.1. Specialty Trade Contractors Market Characteristics
22.2. Specialty Trade Contractors Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, By Segment, Value ($ Billion), Global
22.3. Global Specialty Trade Contractors Market, 2020, By Region, Value ($ Billion)
22.4. Global Specialty Trade Contractors Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
22.5. Global Specialty Trade Contractors Market, 2015-2020, 2020-2025F, 2030F, Segmentation By Type, Value ($ Billion)
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
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