The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A rapidly growing urban population are expected to drive innovation in building equipment contractors manufacturing, thus driving the market during the forecast period.

The global building equipment contractors market is expected to grow from $2,621.41 billion in 2022 to $2,824.95 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The building equipment contractors market is expected to grow to $3,722.41 billion in 2027 at a CAGR of 7.1%.

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Global Building Equipment Contractors Market Segments Include:

• By Type: Electrical Contractors And Other Wiring Installation Contractors, Plumbing, Heating And Air-Conditioning Contractors, Other Building Equipment Contractors
• By Application: Residential Building Construction, Nonresidential Building Construction, Utility System Construction, Other Applications
• By Service Provider: Large Chain Companies, Independent Contractors
• By Mode: Online, Offline
• 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 is the largest region in the global building equipment contractors market in 2021.

Major Market Players in the building equipment contractors market include KONE Corporation, Comfort Systems USA, Inc., Balfour Beatty plc, Fletcher Building Ltd., Vinci SA.

Smart wearables are paving their way into the building equipment contractor market and are being used by supervisors for monitoring operations. Wearable technology in the construction industry will not only have value for workers but can also enhance a company’s ability to manage safety. Wearable devices generally include a computer or electronic device worn on the body, personal protective equipment, or clothing. Wearables like the smart cap, badges, and biosensors evaluate real-time data like location, impact, motion, temperature, and vital signs. Microsoft’s device, HoloLens, allows users to use augmented or mixed reality on the job site. Users can overlay 3D building plans over a site. The plans are to scale so project managers can actually see how things will work and fit on the site, reducing the rework requirement. For instance, in 2020, the national framework organization Pagabo, with the goal of improving site management and promoting well-being in the construction industry, teamed up with health tech start-up Moodbeam to produce Moodbeam One, a wearable gadget that allows construction workers to collect their mood in real-time.

The Building Equipment Contractors Global Market Report 2023  provides a building equipment contractors market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The building equipment contractors market forecast analyzes building equipment contractors market size, building equipment contractors market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Building equipment means all machinery, systems, appliances, equipment, and other equipment in a building or the infrastructure required to operate it.

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