Government Buildings Market Report 2024: Size, Share, Growth, Trends, Forecast 2033

"The new report published by The Business Research Company, titled ""Government Buildings 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 government buildings market size has grown marginally in recent years. It will grow from $48.28 billion in 2023 to $49.05 billion in 2024 at a compound annual growth rate (CAGR) of 1.6%. The government buildings market size is expected to see marginal growth in the next few years. It will grow to $52.86 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%.

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Increasing Government Expenditure Boost The Growth Of The Government Buildings Market
The increasing government expenditure is expected to boost the growth of the government buildings market going forward. Government expenditure refers to the capital the government spends on various goods and services. Government buildings such as government hospitals and schools are part of government expenditure that benefits the development of different infrastructural requirements. For instance, in March 2022, according to Central Statistics Office Ireland, an Ireland-based government agency, in 2021, general government spending was projected to be 1,595.0 billion ISK ($11.61 billion), or 49.3% of GDP, considering general government spending totaled 1,485.6 billion ISK ($10.82 billion) in 2020, or 50.7% of GDP. Further, according to the Government of India 2021-22 annual budget report, in 2021-22, the overall government spending is anticipated to be INR 34,83,236 crore ($4,127,831.20), an increase of 14% annually from 2019-20. Therefore, the increasing government expenditure is driving the growth of the government buildings market.

Growing Trend Of Specialized Government Buildings
Specialized government buildings are the key trend gaining popularity in the government buildings market. Major companies operating in the government buildings market focus on designing buildings with specialized systems. For instance, in September 2021, the Government of India, Ministry of Housing and Urban Affairs, launched Central Vista Project. This project commenced with the construction of a new parliament building. The large Committee areas with the most modern audio-visual equipment will be available in the new structure. It will include practical spaces specifically intended to facilitate and provide greater efficiency. The new structure is triangular to ensure optimum space utilization.

The government buildings 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: Private, Public

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Major companies operating in the government buildings market report are China State Construction Engineering Co. Ltd., Shanghai Construction Group Co. Ltd., Clark Construction Group LLC, The Whiting-Turner Contracting Company, Turner Construction Company, Balfour Beatty plc, Greenland Holding Corp. Ltd., Obayashi Corporation, Daiwa HouseIndustry Co. Ltd., HOCHTIEF Aktiengesellschaft, Vinci S.A., Bouygues SA, Kajima U.S.A. Inc., Bechtel Corporation, Skanska AB, Fluor Corporation, STO Building Group, PulteGroup Inc., Jacobs Solutions Inc., WSP Global Inc., Alfa Tech Ltd., AECOM Technology Corporation, DPR Construction, PCL Construction Enterprises Inc., Brasfield & Gorrie LLC, JE Dunn Construction, McCarthy Holdings Inc., Hensel Phelps Construction Co., Stanley Technology Group Inc., Suffolk Construction Company Inc., Summit Contracting Group Inc., McShane Construction Ltd., Ajax Building Co., HITT Contracting Inc., Harkins Builders Inc., Kiewit Corporation .

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

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