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TBRC’s Non-Residential Building Construction industry research report covers market growth, segments, trends and opportunities for companies to better strategize.

LONDON, May 24, 2022 /PRNewswire/ — Asia-Pacific was the largest region in the global non-residential building construction marketrepresenting 42.4% of the total in 2021. It was followed by North America, Western Europe, then the other regions. Going forward, the fastest growing regions in the non-residential building construction market will be Africa and Asia Pacific, where growth will be at CAGRs of 17.3% and 9.2% respectively. These will be followed by Eastern Europe and South America where the markets are expected to grow at CAGRs of 8.92% and 8.86% respectively, during the period 2021-2026.

the global non-residential building construction market size should go from $2675.51 billion in 2021 for $2989.95 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The growth of the non-residential building construction market is mainly due to the reorganization of business activities and the recovery from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational difficulties. The non-residential building construction market is expected to reach $4484.30 billion in 2026 at a CAGR of 10.7%.

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Durability is key

Non-residential building construction companies are increasingly using green building techniques to construct energy-efficient buildings and reduce construction costs. Green building refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. According to the World Green Building Trends Survey, approximately 60% of construction companies worldwide were involved in green building projects. Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies develop sustainable, high-performance residential and commercial buildings, and also provide a variety of benefits, from tax deductions to marketing opportunities. Sustainable building materials such as natural paints and steel beams made from recycled materials are widely used in the UK. Other green building techniques such as cross ventilation for a more natural environment, green building software such as Construction Suite to ensure green compliance and the Green Globes management tool are also used in the construction industry.

Advanced Technology = Efficiency

Non-residential building construction companies use robotics to increase productivity, to get the job done faster, cheaper, and with finer detail. Construction robots are automated machines that help with construction. Technology of San Francisco Startup Built Robotics enables construction machinery such as excavators and bulldozers to operate autonomously. A growing range of robotic equipment can take on specialized construction tasks, including welding, drilling and bricklaying. For example, more than four in five construction companies (81%) globally say they plan to introduce robots into their operations over the next decade, partly in response to a growing skills crisis experienced by 91% of ‘between them.

The key players and their strategies

The non-residential building construction market is highly fragmented, with a large number of small players. The top ten market competitors accounted for 4.73% of the total market in 2021. Major market players are China State Construction Engineering Co., Ltd., Shanghai Construction Group Co., Ltd., Hochtief AG, Vinci SA, Bouygues SA and Greenland Holding Group.

Strategies adopted by players in the non-residential building construction market include emphasis on expansion of presence through contracts and agreements, expansion of product portfolio, expansion of activities by working on new projects around the world and a focus on strengthening the product portfolio by introducing advanced products needed for construction.

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SOURCE The Trade Research Society