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

Demand from rising businesses is likely to stimulate innovation in the manufacture of office buildings, propelling the market during the forecast period.

The global office buildings market is expected to grow from $567.20 billion in 2022 to $583.20 billion in 2023 at a compound annual growth rate (CAGR) of 2.8%. The global office buildings market size is expected to reach $620.94 billion in 2027 at a CAGR of 1.6%.

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Global Office Buildings Market Segments Include:

• By Building Type: Smart Buildings, Traditional Buildings
• 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, Europe is the largest region in the global office buildings market in 2021.

Major Market Players in the office buildings market include Kiewit Building Group Inc., Toll Brothers Inc., CBRE Group Inc., Bouygues S.A., Jacobs Solutions Inc., China Railway Construction Corporation Limited, Power Construction Corp.

Sustainability and energy-efficient offices are a growing trend in the office construction market. Major office block firms are focusing on sustainability in order to satisfy their carbon net-zero goals and the needs of the next generation of workers. Adobe, a US-based software firm, for example, completed its new sustainable office in San Jose, California, in March 2023. The renewable energy sources, solar and wind, are used to power the all-electric building. It used unique glass to reduce the amount of heat and cold that entered the building. To keep waste out of landfills, 90% of it is recycled. Instead of furnaces, air source heat pumps were installed for heating and cooling.

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

An office block is a business structure made up of office spaces. It is a building structure that is largely used for commercial operations such as administration, clerical services, consulting, and other client services, but does not include retail sales.

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