June 16, 2024
Building Construction Partnership Market

Building Construction Partnership Market is Estimated to Witness High Growth Owing to Increased Investments in Infrastructure Development

The building construction partnership market involves the integration of architectural design, engineering consulting, real estate development, construction contracting as well as operations and maintenance services for building projects. Partnerships in building construction help streamline project workflow, share expertise and risks, and deliver projects on-time and within budget.

The global building construction partnership market is estimated to be valued at US$ 145.71 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2024 to 2031.

Key players operating in the building construction partnership market include Knauf AG, LafargeHolcim, Yoshino Gypsum Co. Ltd., Global Mining company, Saint Gobain, Jonoub Gypsum, Georgia Pacific, Zawami Minerals Co., Rajasthan State Mines, FCI Arawali Gypsum, AI Jood Natural Resources, American Gypsum, Gypsco, Vinayak Gypsum, Gypsona, Boero USA, Arcosa Specialty Chemicals. These companies provide integrated construction solutions to meet the growing needs of commercial, industrial and residential infrastructure development projects.

Key Takeaways

Key players: Knauf AG is a leading building materials company offering dry construction solutions. LafargeHolcim is a leading global building materials supplier involved in cement, aggregates and concrete production.

Key opportunities: Growth opportunities for Building Construction Partnership Market Demand partnerships exist in developing markets investing heavily in urbanization and infrastructure development in Asia and Africa.

Global expansion: Major construction firms are pursuing global expansion strategies and seeking local partners in international markets to leverage their expertise and manage political and operational risks.

Market drivers

The key driver for the growth of the building construction partnership market is the increased investments by governments around the world in infrastructure development projects such as roads, bridges, airports and commercial real estate construction. Partnerships help construction companies to secure and complete large infrastructure contracts by leveraging complementary expertise and capabilities. This is expected to drive continued demand for integrated building construction solutions over the forecast period.

PEST Analysis

Political: Building construction projects require various government approvals and permits. Changes in administrative policies and regulations could impact the approval process and timelines.

Economic: Current macroeconomic trends such as GDP growth, employment rates, disposable income levels influence the demand for new residential and commercial construction. Demand may decline during economic downturns.

Social: Demographic trends like population growth, urbanization, migration patterns drive the need for new housing, offices, schools etc. Changing lifestyle preferences also impact the types of constructions undertaken.

Technological: Adoption of advanced construction materials, prefabricated components and IoT-enabled equipment can boost productivity and speed of construction. Digitization of approval processes through e-governance initiatives eases regulatory compliances.

Geographical concentration

The Asia Pacific region accounts for the largest share of the global building construction partnership market in terms of value. Rapid urbanization, rising incomes and population growth in countries like China and India are driving significant investment in infrastructure and real estate development. Government initiatives to boost housing and modernize cities through smart city projects are major demand drivers.

Fastest growing region

The building construction partnership market is expected to witness the fastest growth in the Middle East and Africa region over the forecast period. Oil exporting economies are undertaking large scale projects to diversify their economies and improve standards of living. Upgradation of aging infrastructure as well as construction of new townships, airports etc. to boost tourism and business hubs is propelling market expansion.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.