Strong Growth in Residential Building Construction Market to $5802.69B by 2028 at 5.8% CAGR Fueled by Population Growth - TBRC Report

The new report published by The Business Research Company, titled "Residential Building Construction Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the residential building construction market size has grown strongly in recent years. It will grow from $4389.83 billion in 2023 to $4628.16 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The residential building construction market size is expected to see strong growth in the next few years. It will grow to $5802.69 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.

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Impact Of Global Population Growth On Residential Building Construction Market Expansion
The rising population is expected to propel the growth of the residential building construction market going forward. Population refers to the citizens of a specific nation or location or common people. An increase in population is the dominant factor in determining the volume of building construction, as a result, the rising population would directly reflect the growth of building construction. For instance, in October 2022, according to World Health Organization (WHO), a Switzerland-based specialized government agency, between 2015 and 2050, the proportion of the world's population over 60 years would nearly double from 12% to 22%. Additionally, there are 1.4 billion people over the age of 60, up from 1 billion in 2020 and this would double by 2050 with 2.1 billion people. Between 2020 and 2050, the number of people 80 or elderly is projected to triple, reaching 426 million. Therefore, the rising population is a driving factor in the growth of the residential building construction market.

Key Players Advancement Revolutionizing Residential Construction Market
Technological innovations are a key trend gaining popularity in the residential building construction market. Major companies operating in the residential building construction market are introducing innovative products to sustain their position in the residential building construction market. For instance, in February 2022, Black Buffalo 3D Corporation, a US-based company operating in residential construction launched NEXCON 3D printers, a 3D modular construction printer. This involves 3D printing technology that addresses traditional challenges in the construction industry with a stronger, more durable end product utilizing a motion-centric modular gantry design that produces more effective structures. The multi-axis gantry system is optimized to produce accurate prints for any 3D-modeled design that can be developed using normal CAD software, and it is capable of printing buildings up to three stories high.

The residential building construction market covered in this report is segmented -
1) By Product type: New-Single Family Housing Construction, New-Multi Family Housing Construction, Other Types
2) By Sales Type: New Construction, Renovation
3) By End-User: Private, Public

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Major companies operating in the residential building construction market report are SFK Construction Holdings Limited, China State Construction Engineering Corporation Limited, Country Garden Holdings Limited, Bouygues S.A., Laing O'Rourke Plc, Lennar Corporation, D.R. Horton Inc., Hochtief AG, Greystar Worldwide LLC, Larsen & Toubro Limited, Bechtel Corporation, Turner Construction Company, PulteGroup Inc., Skanska AB, Kiewit Corporation, Taylor Morrison Inc., TechnipFMC PLC, Gilbane Building Company, Meritage Homes Corporation, Century Communities Inc., Bridge Investment Group LLC, Alliance Residential Company, Mill Creek Residential, Continental Properties Company Inc., Legacy Housing Corporation, The NRP Group LLC, DHI Communities Inc., Clayton Properties Group Inc., Black Buffalo 3D Corporation, Related Group

Contents of the report:
1. Executive Summary
2. Residential Building Construction Market Report Structure
3. Residential Building Construction Market Trends And Strategies
4. Residential Building Construction Market - Macro Economic Scenario
5. Residential Building Construction Market Size And Growth
…..
27. Residential Building Construction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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