Building Equipment Contractors Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled Building Equipment Contractors 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 building equipment contractors market size has grown strongly in recent years. It will grow from $2804.37 billion in 2023 to $2988.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The building equipment contractors market size is expected to see strong growth in the next few years. It will grow to $3942.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.

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Rapid Urbanization Fuels Growth Of Building Equipment Contractors Market
A rapidly growing urban population is expected to increase the demand for new residential and commercial buildings, during the forecast period. According to the UN World Urbanization Prospects report, globally, it is projected that more than two-thirds (60%) of the world's population will be living in cities by 2050. For instance, large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam, and the Philippines, which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, the urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drive the building equipment contractor market during the forecasted period.

Smart Wearables Revolutionizing The Building Equipment Contractors Market For Enhanced Operations And Safety Management
Major companies operating in the building equipment contractor industry are increasingly focusing on developing smart wearables and technologies to improve efficiency, safety, and productivity on construction sites. Smart wearables are paving their way into the building equipment contractor market and are being used by supervisors for monitoring operations. Wearable devices generally include a computer or electronic device worn on the body, personal protective equipment, or clothing. Wearables like the smart cap, badges, and biosensors evaluate real-time data like location, impact, motion, temperature, and vital signs. For instance, in 2023, Masimo, a US-based medical technology company, launched the Masimo Freedom smartwatch. It was created to revolutionize the wearable technology sector and give the freedom to control your personal health and privacy through accurate and ongoing health tracking. It also includes a cutting-edge hardware feature intended to lessen radiation and free you from privacy invasion.

The building equipment contractors market covered in this report is segmented -

1) By Type: Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors
2) By Service Provider: Large Chain Companies, Independent Contractors
3) By Mode: Online, Offline
4) By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Other Applications

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Major companies operating in the building equipment contractors market include KONE Corporation, Comfort Systems USA Inc., Balfour Beatty plc, Fletcher Building Ltd., Vinci SA, Mitsubishi Electric Corp, Morgan Sindall Group plc, Integrated Electrical Services Inc., Astaldi S.p.A., Johnson Controls International plc, Honeywell International Inc., Siemens AG, Schneider Electric SE, United Technologies Corporation, Ingersoll-Rand plc, Carrier Global Corporation, Daikin Industries Ltd., LG Electronics Inc., Trane Technologies plc, Lennox International Inc., Rheem Manufacturing Company, Goodman Manufacturing Company L.P., York International Corporation, American Standard Companies Inc., A.O. Smith Corporation, Bradford White Corporation, Navien Inc., Rinnai Corporation, Noritz Corporation, Bosch Thermotechnology Corp., Viessmann Manufacturing Company Inc., Weil-McLain, Burnham Holdings Inc., Taco Comfort Solutions, Grundfos Pumps Corporation, Armstrong Fluid Technology, Bell & Gossett, Wilo USA LLC.

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

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