Commercial Buildings Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share

How Are the key drivers contributing to the expansion of the commercial buildings market?
A surge in the development of environmentally friendly buildings is anticipated to drive the commercial buildings industry. These green buildings are structures that utilize minimal resources, resulting in healthier, more eco-friendly, and cheaper-to-maintain buildings. Consideration of the entire lifespan of a building is encompassed in this eco-friendly construction practice. These types of buildings, when used in a commercial context, can significantly reduce annual operating costs, promoting market expansion with the growth of green construction. For example, the Building and Construction Authority (BCA), a statutory organization based in Singapore under the Ministry of National Development, set out in its previous Green Building Masterplan editions to make 80% of Singapore's buildings eco-friendly (considering the gross floor area) by 2030. By the end of 2022, about 55% of such buildings achieved green certification. Consequently, the rise in green building construction is propelling the commercial building sector.

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What growth opportunities are expected to drive the commercial buildings market's CAGR through 2034?
The market size of commercial buildings has been progressively expanding over the past few years. It is predicted to rise from $1921.73 billion in 2024 to about $1993.8 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 3.8%. The former growth can be linked to factors such as economic progress and stability, urbanization patterns, regulatory conditions, consumer behavior and preferences, and global events and crises.

In the upcoming years, the market size of commercial buildings is anticipated to experience consistent growth. By 2029, it is projected to expand to $2334.84 billion, with a compound annual growth rate (CAGR) of 4.0%. The projected growth within this period can be credited to factors such as flexible work setups, actions towards climate change improvements, speedy urbanization in rising markets, the influence of e-commerce on retail spaces, and government measures and incentives. Key trends during this forecast period will include enhanced security systems, modular construction methods, data-driven decision-making, intelligent building technologies, and digital transformation.

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What are the emerging trends shaping the future of the commercial buildings market?
The commercial buildings market's major players are focusing their strategies on creating eco-friendly buildings. They do this by integrating energy sources like rooftop solar installations, not only to promote environmental responsibility but also to carve a competitive edge in this fast-paced market. Rooftop solar installations are systems where solar panels are placed on a building's roof to absorb sunlight and convert it to electricity. For instance, in January 2023, a landmark development took place where the Philippines-based JEG Development Corporation (JDC) and the US-based real estate investment trust, COREnergy Inc., jointly initiated a project involving a 37kWp rooftop solar setup on the 22-story JEG Tower located at One Acacia, making it Cebu's first commercial high-rise building powered by solar energy. The solar project, integrated with the grid, is anticipated to produce 77 MWh of energy every year, toning down carbon dioxide emissions by 30 metric tons annually. The JEG Tower, notable for its highest Gold rating in Cebu City's LEED system for eco-friendly buildings, is the fifth solar project for COREnergy in Cebu.

Which growth-oriented segments of the commercial buildings market are leading the industry's development?
The commercial buildings market covered in this report is segmented -

1) By Product: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Application: Owned, Rental
3) By End User: Offices, Retail, Leisure, Other End Users

Subsegments:
1) By New Construction: Office Buildings, Retail Spaces, Warehouses And Distribution Centers, Hotels And Hospitality
2) By Repair And Maintenance: Routine Maintenance Services, Emergency Repairs, Facility Management Services
3) By Refurbishment And Demolition: Interior Renovations, Structural Upgrades, Demolition Services

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What regions are leading the charge in the commercial buildings market?
Asia-Pacific was the largest region in the commercial buildings market in 2024. The regions covered in the commercial buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the commercial buildings market?
Major companies operating in the commercial buildings market include Brookfield Business Partners LP, CBRE Group Inc., Bechtel Corporation, Turner Construction Company, Skanska AB, Jacobs Engineering Group Inc., Obayashi Corporation, Fluor Corporation, Kiewit Corporation, AECOM Technology Corporation, Lendlease Corporation, Prologis Inc., DPR Construction Inc., Clayco Inc., Suffolk Construction Company Inc., Boston Commercial Properties Inc., Walsh Group, Marcus & Millichap Inc., Segro plc, DLF Ltd., Mortenson Inc., Hunt Construction Group, RAK Properties PJSC, NAI Global, Link Asset Management Ltd., Nakheel PJSC, Onni Contracting Ltd.

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What Is Covered In The Commercial Buildings Global Market Report?

•Market Size Forecast: Examine the commercial buildings market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the commercial buildings market for a structured understanding.
•Key Players Overview: Analyze major players in the commercial buildings market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the commercial buildings market.
•Segment Contributions: Evaluate how different segments drive overall growth in the commercial buildings market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the commercial buildings market.
•Industry Challenges: Identify potential risks and obstacles affecting the commercial buildings market.
•Competitive Landscape: Review strategic developments in the commercial buildings market, including expansions, agreements, and new product launches.

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