Buildings Construction: A Leading Driver Behind Rising Demand For Elderly-Friendly Infrastructure Boosts The Building Construction Market Market Expansion in 2025

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What Will the Buildings Construction Industry Market Size Be by 2025?
In recent years, the market size of the building construction industry has seen a stable growth. It is projected to expand from $7502.78 billion in 2024 to $7864.83 billion in 2025, signaling a compound annual growth rate (CAGR) of 4.8%. Factors contributing to this growth during the historical period include population increase, economic climate, urban development, government spending on infrastructure, as well as advancements in construction technology, materials, and techniques.

What's the Long-Term Growth Forecast for the Buildings Construction Market Size Through 2029?
In the coming years, the building construction market size is predicted to experience substantial expansion. It is projected to increase to $9750.27 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. Factors like sustainability and environmental standards, digitalization and building information modeling (bim), resilience and disaster mitigation, housing affordability, remote work and modifications in office space contribute to the growth expected during the forecast period. Noteworthy trends projected for this period consist of prefab and modular construction, buildings focusing on health and wellness, smart buildings, adaptive reuse, and circular construction and recycling.

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What Are the Key Growth Drivers Fueling the Buildings Construction Market Expansion?
The aging demographic in a majority of countries is heightening the need for infrastructure suitable for the elderly. As emphasized by the World Health Organization (WHO), a specialized governmental body, from 2020 to 2050, the population of those 80 years old or above is anticipated to triple to 426 million. Furthermore, by 2050, it's predicted that the number of individuals 60 years old and above will have doubled, reaching 2.1 billion. Consequently, there will be a growing requirement for infrastructural enhancements which are accommodating to the ''elderly'' during the forecasted timeframe. Modifications will need to be made to both residences and the broader environment to increase safety and inclusivity. The accessibility of both residential and non-residential buildings for the elderly will need to be improved, leading to a surge in building construction activities.

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What Are the Key Trends Driving Buildings Construction Market Growth?
Prominent firms in the building construction industry are prioritizing the advancement of innovative solutions like building construction excavators to augment productivity, bolster site safety and trim down operational expenses. Building construction excavators are a type of heavy-duty equipment expressly engineered for excavation and earth-moving responsibilities in construction ventures. An illustrative example of this can be seen in KOBELCO Construction Machinery Co., Ltd., a Japanese firm specializing in construction machinery. The company launched the SK80 excavator in September 2024 which is specifically designed to amplify productivity and efficiency in construction undertakings. The new model is outfitted with innovative factors such as a robust engine, a superior hydraulic system, and an improved operator comfort. The SK80 is projected to satisfy the escalating demand for compact yet strong excavators in the Indian market, making it apt for diverse uses like urban construction and infrastructure enhancement.

How Is the Buildings Construction Market Segmented?
The buildings construction market covered in this report is segmented -

1) By Type: Residential Building Construction, Nonresidential Building Construction
2) By Building Type: Smart Buildings, Traditional Buildings
3) By End User Sector: Private, Public

Subsegments:
1) By Residential Building Construction: Single-Family Housing Construction, Multi-Family Housing Construction, Manufactured (Mobile) Home Construction, Other Residential Building Construction
2) By Nonresidential Building Construction: Commercial And Institutional Building Construction, Industrial Building Construction, Agricultural Building Construction, Other Nonresidential Building Construction

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Which Companies Are Leading the Charge in Buildings Construction Market Innovation?
Major companies operating in the buildings construction market include China State Construction Engineering Corporation Ltd, China Evergrande Group, Country Garden Holdings Co Ltd, Sunac China Holdings Ltd, Greenland Holding Group, Daiwa House Group, Lennar Corporation, D.R. Horton Inc, Bouygues SA, The Metallurgical Corp of China, China Railway Group Limited, Bechtel, Fluor Corporation, The Whiting-Turner Contracting Company, Emcor Group, Turner Construction, Kiewit Corporation, STO Building Group Inc., AECOM, DPR Construction, Gilbane Building Company, Tutor Perini Corporation, Clark Construction Group LLC, Skanska USA, PCL Construction Enterprises Inc., McCarthy Holdings Inc., Hensel Phelps, Ryan Companies US Inc., Swinerton, Balfour Beatty US, The Boldt Company, JE Dunn Construction Group Inc., The Walsh Group Ltd., Mortenson, The Industrial Company, Webcor Construction, TDIndustries, The Haskell Company, KCI Technologies, Crossland Construction Company, Consigli Building Group Inc.

Which Regions Are Leading the Global Buildings Construction Market in Revenue?
Asia-Pacific was the largest region in the building construction market in 2023. North America was the second-largest region in the building construction market. The regions covered in the building construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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