New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Retail And Other Commercial Buildings Global Market Report 2023" - https://www.reportlinker.com/p06464146/?utm_source=GNW
E. Dunn Construction Group, and Holder Construction Group LLC.
The global retail and other commercial buildings market is expected to grow from $395.39 billion in 2022 to $411.65 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The retail and other commercial buildings market is expected to reach $458.87 billion in 2027 at a CAGR of 2.8%.
The retail and other commercial buildings market includes revenues earned by entities by providing services such as choosing the right spot, setting a budget, financing, pre-designing, and designing construction of retail and other such commercial buildings.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The retail and other commercial buildings refers to buildings developed, and constructed for retail and commercial purposes.
Asia-Pacific was the largest region in the retail and other commercial buildings market in 2022. The regions covered in the retail and other commercial buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of retail and other commercial buildings are smart buildings and traditional buildings.Smart buildings are buildings that use advanced technology to enhance efficiency, security, and performance, used for improved building management and user experience.
These are used for various applications including residential buildings, non-residential buildings by offices, retail, leisure, and other end-users.
The strong growth in retail space is expected to propel the development of the retail and other commercial buildings market going forward.Retail space is commercial space for selling goods or services to customers, such as shopping centers, strip malls, and stand-alone stores.
The expansion of major retailers such as Amazon, Walmart, and Target has driven strong growth in the retail space.This growth will drive new construction of retails and other such structures construction.
For instance, in July 2022, according to the Wall Street Journal, a US-based business and economic-focused international daily newspaper, Amazon, a US-based e-commerce company accelerated the expansion of its warehouse space to meet consumer demand.The warehouse space increased from 165 million square feet to 379 million square feet.
Furthermore, in 2022, WeWork India, an India-based space-as-a-service platform, taken 3.62 lakh square feet lease of office space as part of its expansion plan for flexible workspace. Therefore, the strong growth in retail space is driving the growth of the retail and other commercial buildings market.
Product innovation is a key trend gaining popularity in the retail and other commercial buildings market.Major companies operating in the retail and other commercial buildings market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in February 2023, Contruent, a US-based capital project management solution company for large construction projects, launched Contruent Enterprise, a SaaS-based solution that empowers owners and engineering, procurement, and construction to complete projects quickly and more precisely. The software improves scheduling and budget management of the construction projects with a customizable dashboard and other components such as integrated cost and schedule, engineering, contract management, and field management.
In December 2022, DiGeronimo Companies, a US-based construction company acquired Winter Companies, such as Winter Construction and Winter Environmental for an undisclosed amount.The acquisition expanded DiGeronimo’s growth in the construction and development industry.
Winter Companies is a US-based commercial construction company that provides construction services.
The countries covered in the retail and other commercial buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The retail and other commercial buildings market research report is one of a series of new reports that provides retail and other commercial buildings market statistics, including retail and other commercial buildings industry global market size, regional shares, competitors with a retail and other commercial buildings market share, detailed retail and other commercial buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the retail and other commercial buildings industry. This retail and other commercial buildings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464146/?utm_source=GNW
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