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Commercial And Institutional Land Planning And Development Market Size, Share, Trends Outlook And Global Forecast 2024 To 2033
Commercial And Institutional Land Planning And Development Market
According to The Business Research Company's, The commercial and institutional land planning and development market size has grown strongly in recent years. It will grow from $26.53 billion in 2023 to $28.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to urbanization trends, population growth and migration, economic development initiatives, zoning and regulatory frameworks, corporate expansion strategies..
The commercial and institutional land planning and development market size is expected to see strong growth in the next few years. It will grow to $39.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainability and green development, technological and infrastructure innovations, shift towards mixed-use developments, resilience planning for climate change, public-private partnerships.. Major trends in the forecast period include adoption of inclusive design, urban regeneration initiatives, integration of green spaces, emphasis on resilient infrastructure, community-centric design with stakeholder engagement..
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Market Drivers and Trends:
An increase in construction activities is expected to propel the growth of the commercial and institutional land planning and development market going forward. The construction of industrial, commercial, and residential buildings refers to a business that is engaged in the design, development, and construction of buildings using construction materials. The increasing construction promotes the demand for land planning and development for the proper utilization of land spaces. For instance, in October 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global Construction output in North America will grow by 32%, or US$580 billion from 2020 to 2030, to US$2.4 trillion in 2030. Therefore, increase in construction activities will drive the commercial and institutional land planning and development market.
Strategic partnerships are the key trend gaining popularity in the commercial and institutional land planning and development market. Major companies operating in the commercial and institutional land planning and development market are focusing on forming partnerships to get bigger land deals and efficiently manage their expenses. For instance, in August 2022, GTIS Partners, a US-based real estate investment firm, partnered with Collett Industrial, a US-based industrial land development company, to form a joint venture to purchase and develop two projects with a combined capitalization of $140 million in the Greenville-Spartanburg MSA. One of the projects, Willimon Business Park, has signed long-term agreements or letters of intent with tenants for a total of about 520,000 square feet of space. The GSP development projects are situated next to one another in the same opportunity zone on the eastern end of the South Carolina Technology & Aviation Center and, when finished, will provide almost 1.2 million square feet of industrial space. Almost 110 businesses have operations at SCTAC, one of South Carolina's biggest business parks.
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Major Key Players of the Market:
Daniel Corporation; Halpern Enterprises Inc.; Holder Properties Inc.; Jacoby Development Inc.; Bolis Properties LLC.; Crown Holdings Group; Merlin Land Planning and Development Ltd.; Fuehrer Associates Ltd.; Founthill Ltd.; JIG - Planning & Development Ltd.; Pacific Land Group; H2 LAND Ltd.; Kitchener Land and Planning Ltd.; Merrick & Company; Baseline Group; Hines Interests Limited; Brookfield Properties; CBRE Group Inc.; Cushman & Wakefield Inc.; Colliers International Group Inc.; Gensler & Associates Inc.; Perkins&Will; WSP Global Inc.; Nikken Sekkei Ltd.; CannonDesign; GHD Group Pty. Ltd.; Rambøll Group A/S; The Mott MacDonald Group; Arcadis NV; Kiewit Corporation
Commercial And Institutional Land Planning And Development Market 2024 Key Insights:
• The commercial and institutional land planning and development market will grow to $39.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Construction Boom Propelling Growth In Commercial And Institutional Land Planning And Development Market
• Strategic Partnerships Reshaping Commercial Land Planning And Development Market Dynamics
• Asia-Pacific was the largest region in the commercial and institutional land planning and development market in 2023
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