Insights Into The Residential Building Construction Market’s Growth Opportunities Through 2023-2032 – Includes Residential Building Construction Market Share
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
Rising population is likely to stimulate innovation in residential building construction manufacturing, which will drive the market during the forecast period.
The global residential building construction market is expected to grow from $4,138.84 billion in 2022 to $4405.22 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The global residential building construction market size is expected to reach $5,393.36 billion in 2027 at a CAGR of 5.2%.
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Global Residential Building Construction Market Segments Include:
- By Product type: New-Single Family Housing Construction, New-Multi Family Housing Construction, Other Types
- By Sales Type: New Construction, Renovation
- By End-User: Private, Public
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global residential building construction market in 2021.
Major Market Players in the residential building construction market include China State Construction Engineering Corporation Limited., Skanska AB, Country Garden Holdings, D.R. Horton Inc., Lennar Corporation., Pulte Corporation., Bouygues S.A.
Technological advancements are a crucial trend that is gaining traction in the residential building construction market. To maintain their market position in the residential building construction market, major players in the industry are introducing novel goods. For example, in February 2022, Black Buffalo 3D Corporation, a US-based residential construction company, developed NEXCON 3D printers, a 3D modular construction printer. This involves 3D printing technology that overcomes traditional construction industry difficulties by producing a stronger, more lasting final product through the use of a motion-centric modular gantry design that produces more effective structures. The multi-axis gantry system is optimised to generate accurate prints for any 3D-modeled design that can be created using standard CAD software, and it can print buildings up to three stories tall.
The Residential Building Construction Global Market Report 2023 provides a residential building construction market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The residential building construction market forecast analyzes residential building construction market size, residential building construction 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.
The altering, building, repairing, planning, acquiring, and designing of a residential structure of any residential building is referred to as residential building construction. This entails the construction and assembly of structures utilising diverse engineering approaches in order to produce better buildings and infrastructure.
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