Published on : Mar 09, 2018
Albany, New York, March 9, 2018: The construction industry is by far the most booming industry in the whole world today. General construction caters much to the building of real estate's that could either be used as residential or commercial asset depending on the owner's wish. Based on these categories, residential construction is a large one. Market Research Hub (MRH) has freshly publicized a new study titled “Residential Building Construction Industry: Global Markets to 2022” to its mega-repository, which offers a comprehensive outlook of the global market for residential building construction along with future demand over the forecast period of 2018 to 2022. Moreover, factors that affect the market such as drivers, restraints, and trends have been discussed in detail.
In order to provide detailed information, the report utilizes in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. Some of the prime aspects of the study include market size and growth, trends and strategies, PESTLE analysis, segmental analysis and regional overview. The regional analysis section is a crucial segment of the report, which enlightens the reader about the market Size, Percentage of GDP and forecast for each region. Countries highlighted in the industry include China, India, U.S., Japan and U.K.
Key Highlights from the Study
• According to the research prime findings, the market for residential building construction reached a value of nearly $4,171.3 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 10.3%. If the figure holds true, the market estimated to reach $6,800.9 billion by 2022.
• Asia-Pacific is the largest market for residential building construction, which has been accounted for $2,424.0 billion in 2017 and further estimated to reach $3,895.3 billion by 2022, followed by North America, and Western Europe. The country-wise analysis included in the study reveals that China is the largest market in terms of value and is driving the market for residential building construction.
• In the present time, there is mounting pressure to reduce costs, improve quality and satisfy customers as companies are moving from a provider-driven model to a consumer-driven model. At the same time, emerging market growth, rising population, technological advances is driving the residential building construction market.
• Moreover, the research study categorizes the market on the basis of type of residential construction including new single-family housing construction and new multi-family housing construction and others. Out of these two, the highest growth is projected to come from multi-family building construction driven by factors such as government investments in affordable housing, rising disposable income, rapid urbanization and low-interest rates.
At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry. Major players in the market include China State Construction Engineering Co., Ltd.., Country Garden Holdings, DR Horton, Lennar Corporation and Pulte Groupothers.
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