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Increased government spending on infrastructure development is likely to stimulate innovation in factory building production, propelling the market during the forecast period.

The global factory buildings market is expected to grow from $292.27 billion in 2022 to $302.29 billion in 2023 at a compound annual growth rate (CAGR) of 3.4%. The global factory buildings market size is expected to reach $328.89 billion in 2027 at a CAGR of 2.1%.

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Global Factory Buildings Market Segments Include:

• By Type: Residential, Non-residential
• By Material: Aggregates, Bricks, Cement
• By Construction Type: New Construction, Renovation
• By Application: Owned, Rental
• 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, Asia Pacific is the largest region in the global factory buildings market in 2021.

Major Market Players in the factory buildings market include Pretorius Structures, FEG Global, Tasin Company Ltd., Ajinomoto Engineering Corporation (AJEC), N.S.L Construction Co. Ltd., Tata Projects, L&T Construction.

The incorporation of innovative technology is a crucial trend that is gaining traction in the factory buildings market. To maintain their market position, major players in the factory buildings industry are embracing sophisticated technology. For example, in June 2022, Bjarke Ingels Group, a New York-based architecture firm, completed construction of a brand-new 7,000-square-metre sustainable furniture factory in the middle of the Norwegian forest for Vestre, a Norwegian-based furniture maker. The Bjarke Ingels Group has created a bustling factory dedicated to the most eco-friendly, carbon-neutral manufacture of urban furniture, providing clean, modern spaces for varied manufacturing operations and future high-efficiency production. It is made of reused steel, low-carbon concrete, and locally sourced wood. The project is expected to be the first industrial structure to obtain the highest environmental rating, BREEAM Outstanding.

The Factory Buildings Global Market Report 2023  provides a factory buildings market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The factory buildings market forecast analyzes factory buildings market size, factory buildings 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.

A factory building is a location where things are manufactured and assembled. These industrial buildings must have less than 20% office space, truck loading docks, and at least 10 feet of clear height. It is a one-story structure that houses heavy manufacturing and light assembly production units. They have larger overhead rooms for the same floor size.

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