Press release
Commercial Buildings Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
The Business Research Company offers in-depth market insights through Commercial Buildings Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial buildings market size has grown steadily in recent years. It will grow from $1880.41 billion in 2023 to $1943.55 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to economic growth and stability, urbanization trends, regulatory environment, consumer behavior and preferences, global events and crises.
The commercial buildings market size is expected to see steady growth in the next few years. It will grow to $2236.76 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to flexible work arrangements, climate change mitigation, rapid urbanization in emerging markets, e-commerce impact on retail spaces, government initiatives and incentives. Major trends in the forecast period include advanced security systems, modular construction, data-driven decision-making, smart building technology, digital transformation.
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Market Segmentation:
The commercial buildings market covered in this report is segmented -
1) By Product: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Application: Owned, Rental
3) By End User: Offices, Retail, Leisure, Other End Users
Major Driver - The Surge Of Green Buildings In Propelling Commercial Buildings Market
Increasing construction of green buildings is expected to propel the commercial buildings market going forward. Green buildings refer to a technique for building that uses fewer resources and results in healthier, more environmentally friendly, and less expensive to maintain structures. The full life cycle of a structure is taken into account in the sustainable construction method. Green buildings are used in commercial buildings because they reduce the day-to-day costs year-over-year, so an increase in green buildings will propel market growth. For instance, in 2021, according to the Multidisciplinary Digital Publishing Institute, a Switzerland-based open-access publisher of scientific journals, there were around 2600 projects in China that were awarded LEED (Leadership in Energy and Environmental Design) certification, and further, China's green buildings exceeded 6.6 billion square meters in 2021 amid the country's efforts to promote high-quality development in urban and rural areas. Therefore, an increase in the construction of green buildings is driving the commercial buildings market.
Competitive Landscape:
Major companies operating in the commercial buildings market report are Brookfield Business Partners LP, CBRE Group Inc., Bechtel Corporation, Turner Construction Company, Skanska AB, Jacobs Engineering Group Inc., Obayashi Corporation, Fluor Corporation, Kiewit Corporation, AECOM Technology Corporation, Keller Williams Realty Inc., Lendlease Corporation, Prologis Inc., DPR Construction Inc., Clayco Inc., Suffolk Construction Company Inc., Boston Commercial Properties Inc., Walsh Group, Marcus & Millichap Inc., Segro plc, DLF Ltd., Mortenson Inc., Hunt Construction Group, RAK Properties PJSC, Lee & Associates Licensing and Administration Co. LP, NAI Global, Link Asset Management Ltd., MaxWell Realty Canada, Nakheel PJSC, Onni Contracting Ltd.
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Top Trend - Innovative Tools For Architects To Enhance Commercial Buildings Market
Major companies in the commercial buildings market are focused on developing innovative tools, such as BIM Plug-In, for architects and gain a competitive edge in the market. BIM Plug-In is a software component that enhances building information modeling (BIM) software functionality for specific tasks or features. For instance, in July 2023, Cemex, a Mexico-based building materials supplier, launched a plug-in for Building Information Modelling (BIM) REVIT software, an innovative tool designed for architects and engineers involved in construction projects. This tool allows users to identify the most suitable Cemex products, emphasizing those that are both innovative and environmentally sustainable. The BIM software provides a comprehensive search for concrete properties, facilitates product comparison based on essential characteristics, and enables users to target embodied carbon values. It is the first of its kind in the UK construction industry. The tool aims to enhance efficiency and collaboration in construction project planning and visualization.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Buildings Market Characteristics
3. Commercial Buildings Market Trends And Strategies
4. Commercial Buildings Market - Macro Economic Scenario
5. Commercial Buildings Market Size And Growth
…..
27. Commercial Buildings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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