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The Business Research Company's Residential Building Construction Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The residential building construction market has demonstrated strong growth, projected to increase from $4389.83 billion in 2023 to $4628.16 billion in 2024, at a CAGR of 5.4%. The growth can be linked to population increases, economic conditions, mortgage rates, government policies and incentives, consumer confidence, and demographic shifts.
What Is the Future Market Size of the Global Residential Building Construction Market and Its Yearly Growth Rate?
The residential building construction market is expected to experience strong growth, reaching $5802.69 billion by 2028 with a CAGR of 5.8%. This growth is driven by sustainability and green building practices, affordable housing initiatives, adaptation to remote work, and the aging population's needs. Major trends include digitalization in construction management, technological advancements, prefabrication and modular construction, smart home technology integration, and building information modeling (BIM).
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What Are The Primary Growth Drivers Of The Residential Building Construction Market?
The growing population is projected to boost the residential building construction market. Population growth, which refers to the citizens of a specific nation or location, significantly influences building construction volume. Therefore, an increasing population is likely to directly reflect growth in construction activities.
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Who Are The Top Market Players Contributing To The Growth Of The Residential Building Construction Market?
Major companies operating in the market report are SFK Construction Holdings Limited, China State Construction Engineering Corporation Limited, Country Garden Holdings Limited, Bouygues S.A., Laing O’Rourke Plc, Lennar Corporation, D.R. Horton Inc., Hochtief AG, Greystar Worldwide LLC, Larsen & Toubro Limited, Bechtel Corporation, Turner Construction Company, PulteGroup Inc., Skanska AB, Kiewit Corporation, Taylor Morrison Inc.
What Emerging Trends Are Affecting The Size Of The Residential Building Construction Market?
Technological innovations are emerging as significant trends in the residential building construction industry, with leading companies introducing new products to maintain their market standing.
How Is the Global Residential Building Construction Market Segmented?
1) By Product type: New-Single Family Housing Construction, New-Multi Family Housing Construction, Other Types
2) By Sales Type: New Construction, Renovation
3) By End-User: Private, Public
Geographical Analysis: North America Emerges as the Residential Building Construction Market Leader
North America was the largest region in the residential building construction global market in 2023. Asia-Pacific is expected to be the fastest-growing region in the during the forecast period. The regions covered in the residential building construction report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Residential Building Construction Market?
Residential building construction includes the alteration, construction, repair, planning, acquisition, and design of residential structures. This process involves the assembly and erection of buildings using various engineering techniques to improve infrastructure.
The Residential Building Construction Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Residential Building Construction Market Report: Trends, Opportunities, Strategies, and More
The Residential Building Construction Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into residential building construction market size, residential building construction market drivers and trends, residential building construction global market major players, residential building construction competitors' revenues, residential building construction global market positioning, and residential building construction market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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