Global Buildings Construction Market Expected to Reach USD 10.5 Trillion by 2033 - IMARC Group

November 21, 2024 | Construction and Manufacturing

Global Buildings Construction Market Statistics, Outlook and Regional Analysis 2025-2033

The global buildings construction market size was valued at USD 6.8 Trillion in 2024, and it is expected to reach USD 10.5 Trillion by 2033, exhibiting a growth rate (CAGR) of 4.9% from 2025 to 2033.

Buildings Construction Market

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The inflating popularity of massive and inventive architectural concepts for building development is stimulating the market. Additionally, the Middle East is pushing the frontiers of scale and contemporary engineering, with an emphasis on creating projects that redefine worldwide architectural norms while highlighting technological developments and ambitious design skills. For example, in October 2024, Saudi Arabia announced its plan to construct The Mukaab, a groundbreaking cube-shaped skyscraper in Riyadh. Set to reach a height of 400 meters. This monumental structure aims to become the world's largest building upon completion.

Moreover, recognition and awards in the building construction business emphasize the value of innovation and achievement. Projects that succeed in design, engineering, and sustainability are recognized globally, inspiring businesses to set higher standards and implement cutting-edge approaches that improve the quality and effect of urban projects. For instance, in September 2024, the Council on Tall Buildings and Urban Habitat (CTBUH) revealed its 2024 Award of Excellence winners. WSP announced that 19 projects it had been involved with were recognized for these highly coveted international awards. Furthermore, leading building construction vendors are prioritizing sustainability to comply with environmental laws and decrease the carbon impact of new projects. This involves using materials and processes that fulfill stringent energy-efficiency requirements. Additionally, the worldwide trend toward green and smart buildings has created tremendous potential for builders to incorporate cutting-edge technology and sustainable methods. Also, clients are increasingly choosing high-performance and energy-efficient buildings over traditional constructions due to long-term cost savings and environmental advantages. For example, North America's growing desire for energy-efficient buildings can be observed in projects such as Seattle's Bullitt Center, which is regarded as one of the greenest commercial buildings. This six-story office building exemplifies cutting-edge sustainability, such as rainwater capture and solar panels, establishing a bar for environmentally friendly construction that fulfills LEED Platinum criteria and promotes comparable projects around the area.

Global Buildings Construction Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

North America Buildings Construction Market Trends:

Green building strategies are gaining popularity, with places such as New York enforcing sustainable construction requirements. The LEED certification system encourages environmentally friendly construction projects that minimize carbon footprints and increase energy efficiency, impacting both commercial and residential developments.

Europe Buildings Construction Market Trends:

Labor shortages and rising home demand are driving growth in prefabricated construction. Sweden is a leader in modular housing modules, which enhance development speed and cost efficiency. This movement tackles both urbanization concerns and environmentally concerned customer preferences.

Asia Pacific Buildings Construction Market Trends:

Rapid urbanization and smart city initiatives are transforming the market. China's use of prefabricated technologies in high-rise buildings, such as the 57-story Mini Sky City completed in 19 days, highlights the emphasis on efficiency and speed.

Latin America Buildings Construction Market Trends:

Infrastructure development, influenced by government investment, is augmenting the market growth. Brazil's recent investments in public housing developments under the "Casa Verde e Amarela" program demonstrate a trend toward inexpensive housing that meets the needs of a rising population while also improving living standards.

Middle East and Africa Buildings Construction Market Trends:

Large-scale luxury developments are a major trend fueled by oil revenue. Saudi Arabia's NEOM, a USD 500 Billion future metropolis project, highlights efforts to diversify the economy via innovative, sustainable, and smart building activities.

Top Companies Leading in the Buildings Construction Industry

Some of the leading buildings construction market companies include Bouygues S.A., China State Construction Engineering Corporation, Daiwa House Industry Co. Ltd., Gilbane Inc., Hochtief AG (Actividades de Construcción y Servicios S.A.), Kiewit Corporation, Larsen & Toubro Ltd., Power Construction Corporation of China, Shapoorji Pallonji And Company Private Limited, Skanska AB, STRABAG International GmbH, and Vinci SA, among many others. For example, in January 2023, Larsen & Toubro Ltd.'s construction arm secured a turnkey EPC order to establish a 112.5 MW solar power plant in the southwestern part of West Bengal. Additionally, the company received an order to develop power distribution infrastructure in central-western Uttar Pradesh under the Revamped Reforms-Linked Distribution Scheme.

Global Buildings Construction Market Segmentation Coverage

On the basis of the type, the market has been bifurcated into residential and non-residential. As the population grows, more residential buildings are built to accommodate it. Commercial and office buildings, which are often larger in scale than residential ones, fall within the non-residential sector.
Based on the construction type, the market is categorized into new construction and renovation. New construction is the process of creating wholly new structures or buildings from the ground up. Renovation, often known as remodeling or refurbishing, entails making significant changes or enhancements to existing buildings or structures.
On the basis of the end user, the market has been divided into private and public. The private component includes building projects initiated and supported by individuals, firms, and private groups. The public sector includes government institutions at all levels, including the local, regional, and national governments.

Report Features	Details
Market Size in 2024	USD 6.8 Trillion
Market Forecast in 2033	USD 10.5 Trillion
Market Growth Rate (2025-2033)	4.9%
Units	Trillion USD
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Type Construction Type End User Region
Types Covered	Residential, Non-Residential
Construction Types Covered	New Construction, Renovation
End Users Covered	Private, Public
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bouygues S.A., China State Construction Engineering Corporation, Daiwa House Industry Co. Ltd., Gilbane Inc., Hochtief AG (Actividades de Construcción y Servicios S.A.), Kiewit Corporation, Larsen & Toubro Ltd., Power Construction Corporation of China, Shapoorji Pallonji And Company Private Limited, Skanska AB, STRABAG International GmbH, Vinci SA, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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