Rising construction of green buildings and expanding manufacturing and distribution facilities to boost the Commercial Construction Market in US | Forecast period 2023-2027|Technavio
The Commercial Construction Market in US is likely to experience steady growth because of increase in construction of green buildings and expanding manufacturing and distribution facilities in the US. Rising at a CAGR of 1.62% , the market is estimated to have an incremental growth of USD 107.69 Bn in revenue for the forcast period of 2023 till 2027.
Snapshot of Commercial Construction Market in US
Navigating through the market growth drivers it has been observed that increase in the construction of green buildings is notably driving the market advancement of the increase in the construction of green buildings is notably driving the market owing to the need for appropriate energy-efficient buildings.Moreover, as per trends emergence of smart cities that involves the integration of information and communication and the adoption of the latest technologies are also propelling the market growth across the region.
Technavio’s recent analysis of "the commercial construction market in us, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities followed by the detailed study of market segments in US, during the forecast period." Refer to our sample report for more insights.
When it comes to the market challenges lack of workforce in construction industry and Rise in cost of construction are expected to hinder the growth of the market. However, Emergence of smart cities and Ongoing use of digital technologies in construction industries will have a positive impact on the commercial construction market in us during the forecast period.
Technavio’s analysis of the commercial construction market in US also includes:
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will drive commercial construction market in us growth during the next five years
- Precise estimation of the commercial construction market in us size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial construction market in us industry across
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of commercial construction market in US.
