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Foundation, Structure, And Building Exterior Contractors Market 2024 Opportunity Assessment, Production Analysis, Growth Rate And Forecast To 2033
Foundation, Structure, And Building Exterior Contractors Market Share
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According to The Business Research Company's, The foundation, structure, and building exterior contractors market size has grown steadily in recent years. It will grow from $1156.85 billion in 2023 to $1203.93 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to growth in construction, infrastructure development, government policies and regulations, real estate market dynamics, environmental considerations.
The foundation, structure, and building exterior contractors market size is expected to see steady growth in the next few years. It will grow to $1450.61 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to resilient and sustainable construction, renewable energy construction, infrastructure renewal initiatives, population migration patterns, adaptation to climate change. Major trends in the forecast period include digitalization in construction, smart building technologies, technological advancements in construction, prefabrication and modular construction, focus on resilient infrastructure.
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Market Drivers and Trends:
A rapidly growing urban population is expected to increase the demand for new residential and commercial land 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 foundation, structure, and building exterior contractors market during the forecast period.
Contractors are offering building-integrated photovoltaic (BIPV) glazing technology for the generation of electricity. A BIPV system consists of solar cells or modules that are integrated into building elements or materials as part of the building structure. Traditionally, photovoltaic systems are found on rooftops that have small surface areas. Whereas BIPV photovoltaic cells are integrated directly into cladding materials, shingles or windows, enabling almost any building component, including the roof, façade, windows, canopies, or balcony railings, to generate solar electricity. Thus, BIPV-installed buildings can self-generate a larger portion of their electricity from a free and clean energy source. AGC Inc., Avenston Group, BELECTRIC, BiPVco, and Canadian Solar are examples of companies working on building-integrated photovoltaics.
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Major Key Players of the Market:
3M Company, Laboratory Corporation of America Holdings, Ecolab Inc., Eurofins Scientific SE, SGS SA, Agilent Technologies Inc., Bureau Veritas S.A., Intertek Group plc, bioMérieux SA, Bio-Rad Laboratories Inc., TÜV Nord Group, ALS Limited, Neogen Corporation, Douglas Scientific LLC, National Sanitation Foundation International, AsureQuality Limited, FoodChain ID Inc., Microbac Laboratories Inc., Romer Labs Inc., Charm Sciences Inc., MP Biomedicals LLC, RJ Hill Laboratories Ltd., Symbio Laboratories Pty Ltd., BioControl Systems Incorporated, Mocon Inc., Celsis International Ltd., Genetic ID NA Inc., Roka Bioscience Inc., Zeulab SL, TÜV SÜD AG
Foundation, Structure, And Building Exterior Contractors Market 2024 Key Insights:
• The foundation, structure, and building exterior contractors market size is expected to see steady growth in the next few years. It will grow to $1450.61 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• Urban Population Growth Fuels Foundation And Building Contractors Market
• Empowering Buildings With Building-Integrated Photovoltaic (BIPV) Technology For Sustainable Energy Generation
• Asia-Pacific was the largest region in the foundation, structure, and building exterior contractors market in 2023
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