According to Transparency Market Research, the global construction market is expected to develop at a CAGR of 4.5% from 2023 to 2031, with the overall sales revenue for construction expected to reach US$ 17.1 billion by the end of that year.
In particular, prefabricated and modular construction methods are becoming increasingly popular. As these methods streamline project timelines, reduce costs, and enhance quality by assembling components off-site, they streamline project timelines, reduce cost, and enhance quality. There is a growing interest in this trend due to its efficiency in addressing labor shortages and offering innovative design options.
The increasing demand for wellness-oriented spaces is reshaping construction practices. Wellness-driven designs prioritize factors like air quality, natural lighting, and ergonomic layouts, catering to the health and productivity of occupants. There is a growing emphasis on well-being in residential, commercial, and institutional spaces as well as in commercial spaces as part of this trend.
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The advent of 3D printing technology in construction marks a transformative driver. It allows the creation of complex architectural designs with reduced material waste and construction time, as well as reduced material waste. As this technology evolves, it holds promise for cost-effective and sustainable construction methods, especially in creating affordable housing solutions and infrastructure in remote or disaster-stricken areas.
The scope of the Construction Market Report is as follows:
The key findings of the market report can be summarized as follows:
The competitive landscape of the construction market
Construction is a highly competitive industry that thrives due to the many factors involved. It is through global reach, diverse portfolios, and expertise in mega projects that companies like Vinci, Bechtel, and Turner Construction maintain dominance. The emerging players in the construction industry, such as Skanska and Jacobs, are challenging norms with innovative technologies and sustainable practices.
The experience of regional companies such as Larsen & Toubro (L&T) and China State Construction Engineering Corporation (CSCEC) allows them to capitalize on local expertise and government initiatives.. There has been an increase in competition due to progress in modular construction, digitalization, and green building techniques.. As a result of this landscape, companies are forced to deliver cost-effective, efficient, and environmentally conscious solutions in order to remain competitive, driving the evolution of the construction industry worldwide.. The following are some of the most prominent manufacturers:
The following are some of the most prominent manufacturers:
Drivers and trends driving the growth of the construction market
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An overview of the global construction market by region
Portfolio of products
The construction market is segmented into the following segments:
Product by Product
Sector by Sector
The categories are listed below
The end user is responsible for
Listed by region
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Transparency Market Research has released the following trending report:
The market for construction cameras was valued at US$ 259.9 million in 2022 and is predicted to grow at a CAGR of 8.5% from 2023 to 2031. 
By 2031, the Pre-engineered Buildings Market is expected to grow with a robust and fast-expanding 12.8% CAGR, which represents a revenue gain of US$ 49.9 billion in this market.
The market for transparent concrete is expected to grow at a staggering 41.6% CAGR by 2031, which will result in a US$ 26.5 million increase in sales.
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