Press release
Multifamily Housing Construction Apartments Market is Expected to Grow $1265.59 billion by 2028 at a CAGR of 9.3% within Forecast Period 2024-2033
Multifamily Housing Construction Apartments Market Report
The Business Research Company offers in-depth market insights through Multifamily Housing Construction Apartments 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 multifamily housing construction (apartments) market size has grown strongly in recent years. It will grow from $816.88 billion in 2023 to $887.81 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to demographic trends, economic conditions and urbanization, interest rates and financing, rental market dynamics, social and cultural shifts.
The multifamily housing construction (apartments) market size is expected to see strong growth in the next few years. It will grow to $1265.59 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to changing work and living patterns, affordability challenges, sustainable and green building practices, urban redevelopment and mixed-use projects, demographic changes and aging population. Major trends in the forecast period include technology integration in residential spaces, urbanization and mixed-use developments, technology integration in amenities, adaptable and flexible spaces, wellness and health-centric design.
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Market Segmentation:
The multifamily housing construction (apartments) market covered in this report is segmented -
1) By Construction Activity: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Cost Type: Construction Materials, Construction Equipment, Construction Services
3) By Application: Owned, Rental
Major Driver - Population Growth Fuels Expansion In The Multi-Family Housing Construction Market
The population growth is expected to propel the growth of the multi-family housing construction(apartments) market. Population growth is the annual average rate of change in population size for a certain nation, territory, or geographic area over a given time period. As there is an increase in population many number of people have to be accommodated which increases the multi-family housing construction as well. For instance, according to UN an intergovernmental organization the global human population reached 8.0 billion in mid-November 2022 from 7.79 billion in 2020. Therefore, the population growth is driving the growth of multi-family housing construction market.
Competitive Landscape:
Major companies operating in the multifamily housing construction (apartments) market report are PulteGroup Inc., Turner Construction Company, AECOM Technology Corporation, Greystar Real Estate Partners LLC, Balfour Beatty US, The Whiting-Turner Contracting Company, Skanska USA Inc., Gilbane Building Company, Lendlease Corporation, The Michaels Organization LLC, Clark Construction Group LLC, Lincoln Property Company, JE Dunn Construction Company, Suffolk Construction Company Inc., Alliance Residential Company LLC, The Bozzuto Group, McCarthy Building Companies Inc., Swinerton Incorporated, Ryan Companies US Inc., The Weitz Company, Mortenson Construction, Wood Partners LLC, The Richman Group of Companies, Continental Properties Company Inc., Mill Creek Residential Trust LLC, JPI Companies, Habyt Ltd., Brasfield & Gorrie LLC, TRG Realty Company, Nestcon Shelters Private Limited
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Top Trend - Advanced Tool To Empower Customers
Major companies in the multifamily housing construction (apartments) market are focused on developing advanced tools, such as carbon emissions calculators, to empower customers and gain a competitive edge in the market. Carbon emissions Calculator is a tool that calculates and compares carbon emissions data based on specific factors such as water and energy consumption. For instance, in November 2023, SilverDoor, a UK-based company that specializes in the provision of serviced apartments, launched Carbon Calculator for the serviced apartment sector, allowing users to calculate and compare carbon emissions data. The tool uses a proprietary methodology based on building-specific water and energy consumption to estimate per night CO2 emissions for stays in serviced apartments. The emissions score is displayed on property profiles in the SilverDoor platform and is compared to an equivalent hotel stay based on the Cornell Hotel Sustainability Benchmarking Index.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Multifamily Housing Construction Apartments Market Characteristics
3. Multifamily Housing Construction Apartments Market Trends And Strategies
4. Multifamily Housing Construction Apartments Market - Macro Economic Scenario
5. Multifamily Housing Construction Apartments Market Size And Growth
…..
27. Multifamily Housing Construction Apartments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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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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