Global Specialty Trade Contractors Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Specialty Trade Contractors Market Report by The Business Research Company covers specialty trade contractors market drivers and restraints, specialty trade contractors market size, major players, and the impact of COVID-19 on the specialty trade contractors market.
The specialty trade contractors market consists of sales of specialty trade contractors services and related goods by entities (organizations, sole traders and partnerships) that perform specific activities (e.g., pouring concrete, site preparation, plumbing, painting, and electrical work) involved in building construction or other activities that are similar for all types of construction, but that are not responsible for the entire project. The work performed may include new work, additions, alterations, maintenance, and repairs. The production work performed by establishments in this market is usually subcontracted from establishments of the general contractor type or for-sale builders, but especially in remodeling and repair construction work also may be done directly for the owner of the property. Specialty trade contractors usually perform most of their work at the construction site, although they may have shops where they perform prefabrication and other work. The sales revenues of establishments primarily engaged in preparing sites for new construction are also included in this market. The specialty trade contractors market is segmented into foundation, structure, and building exterior contractors, building equipment contractors, building finishing contractors and other specialty trade contractors.
The specialty trade contractor market growth in the historic period was mainly driven by the increase in construction activity in emerging markets.
The global specialty trade contractors market is expected to grow from $3975.79 billion in 2020 to $4332.83 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5584.91 billion in 2025 at a CAGR of 7%.
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Some specialty trade contractors market trends include artificial intelligence and robotics becoming popular in the construction industry to alter workforce, to capture data and analyze information, eliminate human error and inconsistency, and provide quality results. Artificial Intelligence (AI) uses computer to model natural intelligence of humans in computer-controlled robots, and machine learning to solve problems and execute tasks. These artificially intelligent robots aid in performing construction activities, inspecting quality, tracking progress, real time heavy equipment monitoring, proactively alerting the operator when there is a system breakdown or malfunction and increasing safety.
Global specialty trade contractors market segments include:
1) By Type: Foundation, Structure, And Building Exterior Contractors, Building Equipment Contractors, Building Finishing Contractors, Other Specialty Trade Contractors.
2) By Application: Residential Building Construction, Non-residential Building Construction, Utility System Construction, Others.
3) By Ownership: Chained, Standalone.
4) By Mode: Online, Offline.
Subsegments Covered: Excavation And Demolition, Roofing, Concrete Work, Water Well Drilling, Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors, Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing Contractors, Site Preparation Contractors, All Other Specialty Trade Contractors.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest global specialty trade contractors market share.
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The Specialty Trade Contractors Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides specialty trade contractors market overviews, analyzes and forecasts market size, share, specialty trade contractors market players, specialty trade contractors market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The specialty trade contractors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Specialty Trade Contractors Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Vinci SA, Acs Actividades De Construcción Y Servicios, Quanta Services Inc, Kier Group, Comfort Systems.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Specialty Trade Contractors Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Specialty Trade Contractors Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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