Commercial Buildings Market Trends, Top Companies, Share, Growth And Forecast 2033

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.

Market Overview -
Commercial buildings refer to any structure that is constructed for industrial or public purposes for commercial activities that generate a profit, but is not a residential building. They are used for business-related purposes.

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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.

Green Commercial Building For Environmental Responsibility
Major companies in the commercial buildings market are focused on green commercial buildings by integrating energy sources, such as rooftop solar installation, for environmental responsibility and to gain a competitive edge in the market. A rooftop solar installation is a system of solar panels installed on the roof of a building to harness sunlight and generate electricity. For instance, in January 2023, JEG Development Corporation (JDC), a Philippines-based family enterprise, in partnership with COREnergy Inc, a US-based real estate investment trust, launched a 37kWp rooftop solar installation on the 22-story JEG Tower, One Acacia, making it the first solar-powered commercial high-rise building in Cebu. The grid-tied solar project is expected to produce 77 MWh of energy annually, avoiding 30 metric tons of carbon dioxide emissions each year. JEG Tower, recognized with the highest Gold score in Cebu City's LEED rating system for green buildings, marks COREnergy's fifth operating distributed solar project in Cebu.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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