Nonresidential Building Construction Market Size, Key Drivers, Growth, Demand, Analysis 2024-2033: Trends and Insights

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Nonresidential Building Construction Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The nonresidential building construction market size has grown steadily in recent years. It will grow from $2876.12 billion in 2023 to $2964.59 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rate environment and rapid growth in the elderly population.

The nonresidential building construction market size is expected to see steady growth in the next few years. It will grow to $3377.41 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to rapidly growing urban population, increasing population growth, a rise in disposable income, increasing infrastructure development expenditure by governments and the resumption of work from office post covid-19. Major trends in the forecast period include green construction projects, use of autonomous construction vehicles, a rise in modular construction, use of advanced building materials to improve construction, construction robotics and a rise in 3d construction printing.

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Key Market Players:

Major companies operating in the nonresidential building construction market report are China State Construction Engineering Co., Ltd., Shanghai Construction Group Co., Ltd., Hochtief AG, Vinci S.A., Bouygues SA, Greenland Holding Group, Skanska Group, Obayashi Corporation, AECOM, Bechtel Corporation, R.R.Enterprises, Ramky Infrastructure Limited, Katerra India Private Limited, Rain City Industries Pty. Ltd., J.M. Industries Pty. Ltd., Jeshy Building Concepts Pty Ltd, Dixon Construction Limited, F J Ventures Limited, BNP Paribas Fortis, Operateur de Reseaux d'Energies, Deme Offshore Be, CAJOT LORRAINE, SAS AGENCE LORRAINE DE VIABILITE, PJ Hegarty & Sons U.C., Ballast Nedam Groep N.V., Voorbij Funderingstechniek B.V., Vroom Funderingstechnieken B.V., Van Wijnen Arnhem B.V., Dana Holdings, Swietelsky, Habau, Castagner Immobiliare S.R.L., V & R Edilcons Srl, Blueair Instal Srl, Dalmata Business Srl, Quanta Ten Estate Developments Srl, Zentec Construct Srl, Turner Corp, Clark Group, Swinerton, Hensel Phelps, Lendlease, Gilbane Building Co, Battle Lake Design Group, Alberta, Renewed Materials, Inc., Eco Caminhos, Construcciones Planificadas, WTorre Empreendimentos, Line Investments & Property LLC (LIP), Emaar, AF construction, La' Ala Al-Kuwait Real Estate Co., Gav Yam Land Corporation Ltd., Al Sraiya Holding Group, Al Futtaim Colas, Kharafi National, Baran Group, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI design studio

Market Drivers:

A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings during the forecast period. According to the UN World Urbanization Prospects report, globally, it is projected that more than two-thirds (60%) of the world's population will be living in cities by 2050. 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, the 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.

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The nonresidential building construction market covered in this report is segmented -

1) By Type: Institutional Buildings, Commercial Buildings
2) By Building Type: Non-Residential Smart Buildings, Traditional Buildings
3) By End-User Sector: Private, Public

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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