Published on: January 31, 2020
The global construction market is valued at over USD 1 trillion, with commercial and industrial building construction making out a significant percentage of it. In the US alone, the commercial building construction market is valued at over USD 100 billion. Increased investment in infrastructure, expanding manufacturing and distribution facilities, and the growing focus on building earthquake-resilient structures are all impacting the global commercial and industrial building construction market.
The global commercial and industrial building construction market includes a wide range of infrastructure projects across sectors such as energy, utilities, institutional buildings, and leisure facilities. It includes construction activities for commercial spaces like office buildings, retail outlets, data centers, and hotels, as well as industrial facilities such as manufacturing plants, industrial parks, chemical plants, warehouses, and chemical processing plants.
Key drivers of growth in the commercial and industrial building construction market include initiatives like infrastructure debt funds (IDFs), real estate investment trusts (REITs), and public-private partnerships (PPPs). These initiatives aim to boost infrastructure investments, enhance urban infrastructure under programs like India’s Smart Cities Mission, and promote sustainable development. Technological advancements in construction materials and methods, coupled with increasing demand for energy-efficient and sustainable buildings, also drive market growth.
Trends in the market include the adoption of advanced building technologies such as prefabrication and modular construction to expedite project timelines and reduce construction costs. There is a growing emphasis on green building certifications and sustainable construction practices to minimize environmental impact and meet regulatory requirements. Integrated project delivery methods and building information modeling (BIM) facilitate collaboration among stakeholders and improve project efficiency.
One challenge impacting the commercial and industrial building construction market is labor shortages, which impact project timelines and escalate construction costs. Regulatory complexities such as environmental regulations add to project challenges. Economic uncertainties and fluctuations in material costs affect project profitability and investment decisions.
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market. APAC is a leading region in the global commercial and industrial building construction market, aided by growing construction activity in emerging countries such as India, Afghanistan, and Bangladesh. The construction market is expected to grow steadily in APAC during the forecast period, generating demand for new infrastructure to provide residential and commercial spaces for the growing urban population.
Technavio's commercial and industrial building construction industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our commercial and industrial building construction market reports include:
In order to provide you with a comprehensive view of the commercial and industrial building construction industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the commercial and industrial building construction market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
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