Growing Demand From Expanding Companies Propel The Growth Of The Office Buildings Market Driving Market Acceleration in the Office Buildings Industry, 2025

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How Large Will the Office Buildings Market Size By 2025?
In the recent past, there has been a marginal increase in the market size of office buildings. The growth is projected to escalate from $559.82 billion in 2024 to $570.62 billion in 2025, with a compound annual growth rate (CAGR) of 1.9%. The expansion during the historic phase can be linked to economic advancement and business growth, urbanization and the emergence of commercial hubs, corporate restructuring and consolidation, changes in workplace culture, as well as governmental policies and zoning rules.

How Big Is the Office Buildings Market Size Expected to Grow by 2029?
In the coming years, the office buildings market size is projected to steadily increase. The growth is forecasted to reach $628.29 billion in 2029 with a compound annual growth rate (CAGR) of 2.4%. This anticipated increase over the forecast period is due to various factors such as sustainability efforts and eco-friendly approaches to building, the rise of remote work and flexible office spaces, the increasing integration of technology for enhanced efficiency, mixed-use development projects, and an increased focus on corporate wellness and the employee experience. Key trends during this forecast period are expected to be a heightened focus on employee experience, the integration of biophilic design elements, the incorporation of touchless technologies, the use of agile and adaptable office furniture, and retrofitting for improved energy efficiency.

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Which Key Market Drivers Powering Office Buildings Market Expansion and Growth?
The growth of the office buildings market is expected to be driven by the needs of expanding companies. Business expansion represents a company's plan to broaden its scope of operations and increase earnings. This growth indicates an intensifying demand for additional employees to support broadened operations, inevitably necessitating more office space to house these new employees. For instance, a survey of 500 UK-based small-to-medium enterprises (SMEs) in October 2022 by Airwallex, a British fintech company, reported that in 2023, 70% of businesses aim to boost their presence in foreign markets or further enhance their existing presence. The survey revealed that two-thirds (64%) of these businesses will emphasize their expansion efforts towards Europe and North America, while a third (34%) are preparing to expand their operations into the Middle East, Latin America, Africa, and the Asia-Pacific region. Consequently, the growing need from these expanding businesses is fuelling the growth of the office buildings market.

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Which Fast-Growing Trends Are Poised to Disrupt the Office Buildings Market?
A significant trend emerging in the office buildings market is the emphasis on sustainability and energy-efficient workspaces. Companies predominant in this sector are directing their focus towards eco-friendly practices in order to achieve their carbon neutral targets and cater to the demands of the modern workforce. For example, Adobe, a software firm based in the US, accomplished the construction of its eco-friendly office in San Jose, California in March 2023. This fully electric corporate structure gains its electricity from renewable sources, specifically solar and wind energy. It incorporates specific types of glass to minimize the influx of heat and cold. 90% of waste generated is recycled to avert disposal in landfills. The building utilizes air source heat pumps for temperature control, replacing traditional furnaces.

What Are the Emerging Segments in the Office Buildings Market?
The office buildings market covered in this report is segmented -

1) By Building Type: Smart Buildings, Traditional Buildings
2) By Construction Type: New Construction, Renovation
3) By Application: Owned, Rental
4) By End User: Private, Public

Subsegments:
1) By Smart Buildings: Energy-Efficient Buildings, Automated Buildings, Green-Certified Buildings, IoT-Integrated Buildings, Connected Buildings
2) By Traditional Buildings: Conventional Office Buildings, Historic Or Heritage Buildings, Modular Buildings, Flex Space Offices, Other Traditional Office Structures

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Who Are the Global Leaders in the Office Buildings Market?
Major companies operating in the office buildings market include Kiewit Building Group Inc., Toll Brothers Inc., CBRE Group Inc., Bouygues S.A., Jacobs Solutions Inc., China Railway Construction Corporation Limited, Power Construction Corp., China State Construction Engineering Co. Ltd., Jones Lang LaSalle Inc., Colliers International India Property Services Pvt. Ltd., Skanska AB, Gilbane Building Company, Holcim Ltd., The Korte Company, W.G. Yates & Sons Construction Co., Cushman & Wakefield plc, Newmark Knight Frank, Transwestern Development Company, Marcus & Millichap Inc., Eastdil Secured International Ltd., Savills plc, Avison Young Inc., Kidder Mathews Inc., Lee & Associates Commercial Real Estate Services., Berkshire Hathaway HomeServices, Keller Williams Realty Inc., Coldwell Banker Real Estate LLC, RE/MAX LLC, Sotheby's International Realty LLC, Simon Property Group plc, Kilroy Realty Corp., Realty Income Corporation, Prologis Inc., Alexandria Real Estate Equities Inc., Boston Properties Inc., Vornado Realty Trust

Which are the Top Profitable Regional Markets for the Office Buildings Industry?
Europe was the largest region in the office buildings market in 2024. Asia-Pacific is expected to be the fastest-growing region in the office buildings market report during the forecast period. The regions covered in the office buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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