Specialty Trade Contractors Market 2020 - Market Impact due to COVID 19 Along with key industry Players | Vinci SA; Acs Actividades De Construcción Y Servicios; Quanta Services Inc; Kier Group; Comfort Systems

The Business Research Company offers "Specialty Trade Contractors Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market's historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global specialty trade contractors market is expected to decline from $4413.5 billion in 2019 to $4333.2 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $5159.7 billion in 2023.

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The specialty trade contractors market consists of the sales revenues earned by entities (organizations, sole traders and partnerships) that perform specific activities (e.g., pouring concrete, site preparation, plumbing, painting, and electrical work) involved in building construction or other activities that are similar for all types of construction, but that are not responsible for the entire project. The work performed may include new work, additions, alterations, maintenance, and repairs. The production work performed by establishments in this market is usually subcontracted from establishments of the general contractor type or for-sale builders, but especially in remodeling and repair construction work also may be done directly for the owner of the property. Specialty trade contractors usually perform most of their work at the construction site, although they may have shops where they perform prefabrication and other work. The sales revenues of establishments primarily engaged in preparing sites for new construction are also included in this market.

Specialty Construction Contractors are using building information modeling (BIM) to improve labor productivity, customer management and material handling. BIM is a digital representation or 3D model of a building, which can be used to efficiently plan, design, construct and manage buildings. Contractors use BIM to design structures, lighting, HVAC systems and mechanical, electrical and plumbing systems. It can be also used for clash detection and interference management, shop drawing review, cost estimation and safety analysis. Electrical and mechanical contractors also use BIM to supplement their prefabrication capabilities. BIM results in reduced rework, improved coordination among workers and higher quality of finished projects. According to the 2012 Productivity Survey by FMI, a US-based management consulting firm, about 62% of construction contractors have increased labor productivity by implementing BIM.

Specialty Trade Contractors Market Segmentation: -
By Type
Foundation, Structure, And Building Exterior Contractors
Building Equipment Contractors
Building Finishing Contractors
Other Specialty Trade Contractors

By By Application
Residential Building Construction
Nonresidential Building Construction
Utility System Construction
Others

By Ownership
Chained
Standalone

By Mode
Online
Offline

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Specialty Trade Contractors Market Characteristics
4. Specialty Trade Contractors Market Product Analysis
5. Specialty Trade Contractors Market Supply Chain
.......
20. Specialty Trade Contractors Market Competitive Landscape
21. Key Mergers And Acquisitions In The Specialty Trade Contractors Market
22. Market Background: Construction Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer

The report covers the trends and market dynamics of the Specialty Trade Contractors Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Specialty Trade Contractors Market are Vinci SA; Acs Actividades De Construcción Y Servicios; Quanta Services Inc; Kier Group; Comfort Systems

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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