What is Commercial Construction?
The commercial construction industry is one of the many facets of the construction industry. This has a unique purpose, construction, and management techniques. It is mainly concerned with the built environment for trade-oriented establishments. Commercial construction is used for business purposes, including the construction of office buildings, industrial plants, and other related business operations. In certain situations, a commercial building must serve the purpose of running different companies in the same structure. In commercial construction, a new project is being developed that is based on several business decisions, which are also related to several people or interest groups. Commercial construction has extensive functions including shops, warehouses, theaters, hospitals, community buildings, and more. Most commercial buildings are provided with steel frames. In this way, the project justifies the cost and investment with steel. The commercial sector has a long-term relationship with suppliers. This way the materials in the project stay consistent. Commercial projects are usually large projects with larger buildings. Commercial projects, therefore, require powerful machines, large cranes, and sophisticated equipment. In general, commercial projects are funded by government agencies, developers, and bank finance companies.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Vinci SA (France), ACS Group (Spain), Bechtel (United States), Hochtief (Germany), Balfour Beatty (United Kingdom), Bouygues Construction (France), Kiewit Corporation (United States), Royal BAM Group (Netherlands) and Laing O'Rourke (United Kingdom) |
CAGR | 7.86% |
The study covers a detailed analysis segmented by key business segments i.e. by type (New Construction, Repair and Maintenance and Refurbishment and Demolition) , by application (Leisure and Hospitality Buildings, Office Buildings, Outdoor Leisure Facilities, Retail Buildings and Others) and major geographies. Research Analyst at AMA predicts that European Manufacturers will contribute to the maximum growth of Global Commercial Construction market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Commercial Construction market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Vinci SA (France), ACS Group (Spain), Bechtel (United States), Hochtief (Germany), Balfour Beatty (United Kingdom), Bouygues Construction (France), Kiewit Corporation (United States), Royal BAM Group (Netherlands) and Laing O'Rourke (United Kingdom).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Influencing Trend:
Trends for the Commercial Construction Market Due To Dominance of the Tech Giants and Increasing Technology Sector’s Presence
Market Growth Drivers:
Increase in Co-Working Spaces and Rising Construction Activities All Around the Globe
Challenges:
Decreased Commercial Activity As A Consequence Of Decreased Revenue in the Pandemic
Restraints:
The Increased Financial Structure of the Market and Piling up Of the Material Costs and Sustained Cost Pressures and Ongoing Labor Shortages
Opportunities:
The Continued Adoption of Digital Technologies and Increasing Government Investments in the Sector
Key highlights of the Global Commercial Construction market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Commercial Construction market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Commercial Construction market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Commercial Construction Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Commercial Construction market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Commercial Construction market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Providers of Commercial Construction, End-Users, Potential Investors, Market Research Firms and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.