Residential construction refers to buildings used for residential purposes by families (including residential parts located in the same building as other functional spaces), abbreviated as residential construction. The design of residential construction should comply with the requirements of urban planning and residential area planning and should use land and space economically, reasonably, and effectively.
Overview of Market Development
At present, the global residential construction market has formed a complete industrial chain and a huge market size. According to our research data, the global residential construction market is estimated to reach $8256.12 billion in 2024, an increase of 10.76% compared to 2023. It is expected that the market size will continue to increase to $13979.47 billion by 2029.
Segmented Market Analysis
From the perspective of product types, residential construction can usually be divided into concrete residential construction and wood-framed residential construction based on the different main structural materials. Among them, concrete residential construction dominates the market. According to the data, the estimated size of the global concrete structure residential construction segment market in 2024 is $5439.13 billion, with an expected market share of 65.88%.
Global Residential Construction Market Size and Market Share by Type Forecast
Source: www.globalmarketmonitor.com
Market Analysis of Major Regions/Countries
From a regional perspective, the global residential construction market is concentrated in three major regions: North America, Europe, and the Asia Pacific region. These three major regions have a global share of over 80%. Among them, the Asia Pacific region is the largest revenue market, with a market share of over 40%. From a national perspective, China is the largest revenue-generating country. Data shows that the revenue of China's residential construction market is expected to reach $1698.26 billion in 2024, with an estimated market share of 20.57%.
Global Residential Construction Market Revenue
and Market Share by Region/Country Forecast in 2024
|
Regions/Countries
|
Market Revenue (Billion USD)
|
Market Share
|
|
US
|
1407.23
|
17.04%
|
|
Europe
|
2036.51
|
24.67%
|
|
China
|
1698.26
|
20.57%
|
|
Japan
|
721.93
|
8.74%
|
|
India
|
453.49
|
5.49%
|
|
Asia Pacific
|
454.89
|
5.51%
|
Source:
www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Residential Construction Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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