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Industrial Land Planning And Development Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast
Industrial Land Planning And Development Global Market Report 2024
According to The Business Research Company's, The industrial land planning and development market size has grown strongly in recent years. It will grow from $13.49 billion in 2023 to $14.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to industrialization and urbanization, infrastructure development, zoning regulations, globalization and supply chain networks, government incentives for industrial development.
The industrial land planning and development market size is expected to see strongly grown in the next few years. It will grow to $20.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to smart industrial parks and infrastructure, rise of e-commerce and last-mile facilities, sustainable and green industrial practices, flexible and adaptive land use, resilience planning and risk mitigation. Major trends in the forecast period include integration of 5g technology, technological advancements in manufacturing, mixed-use industrial developments, circular economy and industrial ecology, collaborative industrial spaces.
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Market Drivers and Trends:
The growth in the industrial land planning and development market is due to the increasing population growth and increasing demand for industrial land. An increase in industrial warehouses is expected to propel the growth of the industrial land development market going forward. Warehouses refer to a place in the industry where raw materials are stored for manufacturing purposes. Warehouse is a part of industrial land development along with the construction of industry. It is also constructed to store raw material and finished goods. For instance, according to Economic Times, an India-based daily newspaper for the year 2021, e-commerce sectors continued to account for 60% of total absorption in 2020 which increased to 83% for the year 2021. Therefore, an increase in industrial warehouses is driving the growth of the industrial land development market. With the exponential expansion of industrial land, architects are designing inventory space vertically which would increase the utilization of the land without increasing its physical footprint.
Technological advancements have emerged as a key trend gaining popularity in the industrial land planning and development market. Major companies operating in the market are focused on introducing new technologies to gain a competitive advantage. For instance, in 2021, Honeywell, a US-based industry-specific solutions company launched "The Honeywell Forge Real Estate Operations". The new solution, which builds on Honeywell Forge's enterprise performance management capabilities, was created in collaboration with SAP, a Germany-based enterprise software company using the SAP Business Technology Platform. The cloud-based software solution for building owners and managers streamlines and combines operational and business data can help them make better decisions, increase efficiency, and work toward sustainability objectives.
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Major Key Players of the Market:
The Opus Group; Prologis Inc.; Panattoni Development Company Inc.; IDI Logistics; Duke Realty Corporation; Exeter Property Group; Hillwood Development Company LLC; CenterPoint Properties Trust; Trammell Crow Company; The Rockefeller Group; Dermody Properties LLC; EastGroup Properties Inc.; Clarion Partners LLC; Majestic Realty Co.; Scannell Properties LLC; USAA Real Estate Company; STAG Industrial Inc.; Conor Commercial Real Estate; Bridge Development Partners LLC; HSA Commercial Real Estate; Meridian Design Build Ltd.; The Keith Corporation; Al. Neyer LLC; NorthPoint Development; Seefried Properties Inc.; First Industrial Realty Trust Inc.
Industrial Land Planning And Development Market 2024 Key Insights:
• The industrial land planning and development market size will grow to $20.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• The Surge In Demand Drives The Industrial Land Planning And Development Market
• Innovations Reshaping Industrial Land Planning And Development
• Asia-Pacific was the largest region in the industrial land planning and development market in 2023
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