The global Building Construction Partnership Market is estimated to be valued at US$ 126.48 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Building construction involves the planning, designing and construction activities to build new structures, repair existing ones and renovate structures for improved design and comfort. New construction materials and green building techniques are increasingly being adopted to ensure sustainable and eco-friendly buildings.
Market key trends:
One of the major trends in the building construction partnership market is growing demand for green buildings. With rising environmental concerns, there is an increasing emphasis on construction of green buildings which use sustainable and eco-friendly building materials and technologies. Green buildings optimize energy and water efficiency, indoor air quality and environmental performance of a building through resource efficient design, construction and operation. They reduce carbon emissions and minimize environmental footprint of buildings.
Segment Analysis
The building construction partnership market is dominated by the residential construction segment. The residential construction segment currently holds around 45% of the total market share owing to high demand for housing from the growing population. Factors such as rapid urbanization, rising income levels, and changing lifestyles have increased the demand for residential construction across major countries globally.
Key Takeaways
The global Building Construction Partnership Market Size is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing investments in infrastructure development and public-private partnerships for construction projects.
The Asia Pacific region is currently the largest and fastest growing market for building construction partnerships. Countries such as China, India, Indonesia, and Australia are witnessing heavy investments in energy, transport and social infrastructure projects which is boosting the market in the region.
Key players operating in the building construction partnership market are Vinci, Bouygues, Grupo ACS, Hochtief, Balfour Beatty, Laing O’Rourke, Bechtel, Kiewit, HOCHTIEF, Skanska. Major players are focusing on partnerships with governmental organizations to take up large infrastructure projects as well as gaining access to new global markets through joint ventures and mergers & acquisitions.
The global building construction partnership market size was valued at US$ 126.48 Bn in 2023.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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