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Promising Growth and Future Trends in Multifamily Housing Construction (Apartments) Market: An Analysis of Market Size, CAGR, Drivers, and Market Trends
Multifamily Housing Construction (Apartments) Market Size
What Is The Projected Market Size Of The Global Multifamily Housing Construction (Apartments) Market And Its Growth Rate?
The Multifamily Housing Construction (Apartments) Market has been growing robustly and shows promising future growth:
- The market has grown from $869.46 billion in 2024 to $949.49 billion in 2025 at a CAGR of 9.2%.
- This growth is attributed to demographic trends, economic conditions, and urbanization among others.
- The market is anticipated to grow rapidly reaching $1400.32 billion in 2029 at a CAGR of 10.2%.
- Key drivers for this projected growth include changing work and living patterns, sustainable building practices, demographic changes, and urban redevelopment.
What Is Driving The Growth In The Multifamily Housing Construction (Apartments) Market?
The growth in the multifamily housing construction (apartments) market is propelled by significant population growth. This population growth necessitates increased residential accommodation, prompting a boom in multifamily housing construction. This trend is epitomized by recent data from the United Nations, which reported a milestone of 8 billion global population in November 2022, and projections indicate a population of 9 billion by 2037. This anticipated population growth is expected to further drive the multifamily housing construction market.
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Who Are the Key Players Driving Multifamily Housing Construction (Apartments) Market Growth?
The multifamily housing construction (apartments) market is driven by the following major companies:
- PulteGroup Inc.
- Turner Construction Company
- AECOM Technology Corporation
- Greystar Real Estate Partners LLC
- Balfour Beatty US
- The Whiting-Turner Contracting Company
- Skanska USA Inc.
What Are The Key Trends In The Multifamily Housing Construction (Apartments) Market?
Key trends in the market encompass:
- Integration of technology in residential spaces
- Urbanization and mixed-use developments
- Technology integration in amenities
- Adaptable and flexible spaces
- Wellness and health-centric design
What Are The Segments Of The Global Multifamily Housing Construction (Apartments) Market?
The multifamily housing construction (apartments) market is segmented by:
- Construction Activity: New Construction, Repair And Maintenance, Refurbishment And Demolition
- Cost Type: Construction Materials, Construction Equipment, Construction Services
- Application: Owned, Rental
Which Region Leads The Multifamily Housing Construction (Apartments) Market?
North America was the largest region in the multifamily housing construction (apartments) market in 2024. Asia-Pacific is anticipated to be the fastest-growing region during the forecast period.
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What Is Covered In The Multifamily Housing Construction (Apartments) Market Global Market Report?
- Market Size Analysis: Analyze the Multifamily Housing Construction (Apartments) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Multifamily Housing Construction (Apartments) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Multifamily Housing Construction (Apartments) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Multifamily Housing Construction (Apartments) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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