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| Building Construction Partnership Market |
The building construction partnership market involves various construction materials and services providers joining together to complete large infrastructure projects efficiently. Building construction partnerships allow division of work, pooling of resources and sharing of risks and profits. They help reduce project delays and cost overruns.
The global
Building Construction Partnership Market is estimated to be valued at US$ 126.4 billion in 2024 and is
expected to exhibit a CAGR of 3.8%
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the global building construction
partnership market is the increased infrastructure development projects by
governments across the world. Many countries are investing heavily in
development of transportation, utility and social infrastructure to boost
economic growth. Mega projects involving construction of roads, bridges,
airports, seaports, rail networks, power plants, water supply systems etc.
require participation of multiple construction firms working in coordination.
Building construction partnerships help governments and private developers to
execute large, complex infrastructure projects within set timelines and budgets
by leveraging combined capabilities, manpower, equipment and financial
resources of partnering construction firms. This holds significance for the
building construction partnership market during the forecast period.
Segment Analysis
Building construction partnership market is segmented into residential and
commercial construction. The residential construction segment dominates the
market and accounts for around 60% share of the overall market. This is because
of growing population and rising disposable income. People are increasingly
investing in residential properties in emerging economies.
Key Takeaways
The global Building
Construction Partnership Market Growth is expected to witness high
growth over the forecast period. Growing urbanization coupled with rising
infrastructure development is expected to drive the demand. The global Building
Construction Partnership Market is estimated to be valued at US$ 126.4 billion
in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023
to 2030.
Regional analysis
Asia Pacific region currently dominates the market and is expected to retain
its dominance during the forecast period. China and India are major markets in
the region. These countries are witnessing tremendous growth in residential
construction due to rising population and increasing urbanization. Rapid
infrastructure development is also boosting the commercial construction in
these nations. Additionally, availability of labor and resources makes Asia
Pacific most attractive destination for infrastructure development.
North America is second largest market for building construction partnership.
Recovering economy and increased spending on infrastructure projects are
boosting the growth of construction market in countries like US.
Key players
Key players operating in the building construction partnership market are
Bechtel, Vinci, and ACS Group. Bechtel is one of the largest construction
services company worldwide. It focuses on energy, infrastructure, nuclear,
mining and commercial sectors. Vinci is a global player in concessions and
construction with expertise in designing, financing, building and operating
infrastructure and facilities. ACS Group is a leading Spanish construction
company providing services in areas of cement, construction, industrial and
services.
For more insights, read- https://www.ukwebwire.com/building-construction-partnership-market-trends-size-and-share-analysis/
For more details on the
report, Read- https://www.ukwebwire.com/plant-based-meat-market-trends-size-and-share-analysis/
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