The Business Research Company Global Non-Residential Building Construction Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, UK, November 24, 2021 /EINPresswire.com/ – A rapidly growing urban population is expected to increase demand for new residential and commercial buildings during the forecast period. Globally, around 60% of urban agglomerations remained to be built. Great 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 increase by 250 million by 2030. This rapid urbanization is expected to boost demand for new infrastructure and boost the non-residential building construction market during the forecast period. .
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Asia-Pacific was the largest region in the global non-residential building construction market, accounting for 44% of the market in 2020. North America was the second largest region, accounting for 30% of the global construction market of non-residential buildings. Africa was the smallest region in the global non-residential building construction market.
The size of the global non-residential building construction market is expected to grow from $ 2.39 trillion in 2020 to $ 2.67 trillion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 3.56 trillion in 2025 at a CAGR of 7%.
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The major players covered in the global building construction industry are Clark Construction Group, Turner Construction, Whiting-Turner Contracting, Balfour Beatty, China State Construction Engineering Corporation.
The TBRC Global Non-Residential Building Construction Market report is segmented by Type into Institutional Buildings, Commercial Buildings, Private End-User Industry, Public, Non-Residential Smart Buildings Building Type, Traditional Buildings.
Global Non-Residential Building Construction Market Report 2021 – By Type (Institutional Buildings, Commercial Buildings), By End User Sector (Private, Public), By Building Type (Non-Residential Smart Buildings, Traditional Buildings), the impact and recovery of COVID-19 is part of a series of new reports from The Business Research Company that provides market insight for non-residential building construction, a forecast of the market size and growth of non-residential building construction for the whole market, non-residential building construction market segments and geographies, non-residential building construction market trends, non-residential building construction market drivers residential, constraints, revenues, profiles and market shares of the main competitors.
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