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Commercial Buildings: Latest Industry Trends and Statistics

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Non-Residential Construction Market Research

Abuilding is regarded as a non-residential structure when less than half of its gross floor area is used as a dwelling.Architects and structural and materials engineers as well as builders and specialist trades such as plumbers and electricians are participants in this industry.Non-residential construction projects can be undertaken by private businesses or by national,state or local governments.

Demand for and supply of non-residential construction services are driven by economic factors including population growth,consumer confidence and demand,and changes in interest rates.Government policies affecting infrastructure projects are also an influence.

Global non-residential construction is likely to increase from around $1.3 trillion in 2013 to more than $1.7 trillion,and the global market for the commercial segment of this market to reach $770 billion in the near future.Both will be driven particularly by economic growth in China,India and the USA.

Key Market Segments

Construction of commercial buildingsused by the retail,wholesale and service industries: shopping malls,auto service centers,warehouses and other storage buildings,hotels and restaurants are among the common types of commercial buildings.

Many industry participants specialize in narrow segments within the following categories:

Erectingmedical and educational facilitiessuch as hospitals,research labs,nursing homes and rehabilitation centers,schools,galleries,cultural centers,museums,libraries,military training facilities,and beauty and nursing schools

Buildingindustrial and agricultural structuresincluding office and administration buildings,manufacturing plants,warehouses,livestock barns,dairies,grain silos and barns

Constructingmilitary complexessuch as barracks.

Regional Market Shares

US spending in the non-residential construction market amounted to more than $400 billion in 2014 and is expected to reach about $500 billion in the near future.New non-residential building spending was worth more than $330 billion (the remainder being repairs and renovations),representing a CAGR of 6% over the previous four years.Retail and private office space are the most vibrant sectors in the USA;industrial real estate as a whole is the largest sector of USA real estate construction,both in terms of square feet and value.Continuing changes due to health care reforms and changes to construction delivery methods mean that health care construction is facing many challenges in the USA and this business is expected to see only moderate future growth,to around $40 billion.

China is experiencing exponential growth in commercial construction,driven by growing consumer spending for manufactured goods and services.This is likely to drive the Chinese commercial construction market to more than $460 billion in the foreseeable future.The sector is characterized by the presence of large state-owned companies such as China State Construction Engineering Corporation and the Shanghai Construction Group.

India with its robust economic growth is expected to be one of the largest markets for non-residential construction in the near future,rising to more than $175 billion.This is a fragmented market with players like LANCO Infratech and LARSEN & TOUBRO Limited operating as two of the largest players.

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Parent industry: Construction
Related industries: Green Building,, Heavy Construction,, Construction Equipment,, Civil Engineering,, Construction Services,, Building Materials,, Residential Construction,, Building Products,, Urban Development

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