The Concrete Contractor Market is being driven by Increasing urbanization and industrial development
The Concrete Contractor Market is expected to grow at a CAGR of 0.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 536 million. The expanding urban populace and robust economic and industrial growth worldwide have driven up the demand for energy-efficient green buildings. With non-renewable energy sources supplying the majority of the world's energy needs, escalating energy demand is negatively impacting resource availability. This necessitates the prioritization of energy efficiency in the construction market. Buildings, as significant consumers of energy, are a major focus in this regard. Energy efficiency is a crucial cost-saving component for businesses, facility managers, and homeowners alike. Various governments are implementing regulations to mandate energy efficiency in their building codes. This shift towards energy efficiency not only reduces environmental impact but also offers substantial cost savings over time.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Building construction, Building renovation, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Concrete Contractor Market Research Report
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The concrete contractor market is experiencing significant growth due to increased infrastructural developments and modern building techniques. Building contractors are embracing civil engineering materials like gelling materials, granular aggregates, admixtures, and compressive strength concrete for projects. Modular constructions and offsite manufacturing using prefabricated components and 3D printing are gaining popularity. Eco-friendly and sustainable practices, such as using recycled materials and low-carbon concrete, are essential. Robotics, specialized concrete mixes, and smart construction techniques are also transforming the industry. Forensic services and decorative concrete are additional services offered by concrete contractors. Building Information Modeling and off-site construction in civil construction are also driving market growth.
The construction materials market encompasses the manufacturing sector for various materials utilized in infrastructure development and building projects. This market comprises the revenue generated by providers of chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. Notable growth drivers include the surge in the building and construction industry, which has experienced substantial expansion in recent years. Modern building techniques, such as the use of gelling materials, granular aggregates, and compressive strength enhancing admixtures, are increasingly employed in modular constructions and offsite manufacturing to minimize material wastage and enhance efficiency. These advancements are expected to fuel the growth of the global construction materials market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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