COVID-19 Impact analysis

• COVID-19 pandemic has shut-down large number construction sites, technology advancement companies and others. This has hampered the growth of buildings construction market from the last few months and is likely to continue during 2021.
• COVID-19 has already affected the sales in the market of buildings construction. In the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
• The major demand for buildings construction equipment was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand of buildings construction raw materials.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key player’s buildings construction market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis

Top Impacting Factors

The major drivers for the buildings construction market are the growing industrial infrastructure all over the world and increasing in the technological advancement in construction and others.  In addition, as, the population growth is increasing the urbanization is also an important driver for the buildings construction market.

The main restraint for the buildings construction market is COVID-19 pandemic, due to which the workforce is not available, one more and major restraint is the raw material lineup.

Market Trends

• Certifications such as Leadership in Energy and Environmental Design (LEED) help construction companies to develop high-performance, sustainable residential and commercial buildings, and also offer a variety of benefits. This is new trend to building and construction market.
• Private equity firm Wynnchurch Capital L.P. has acquired Huntington Foam LLC. Huntington merges with Wynnchurch’s Drew Foam Companies Inc. This is the large merger in 2020 for the buildings construction market.
• Technology drives construction deals, says Autodesk’s Sidharth Haksar. IoT and AI is taking a vital role in the building construction market. These will make the operations smooth.

Key Benefits of the Report

• This study presents the analytical depiction of the buildings construction market with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of building construction market share.
• The current market is quantitatively analyzed from 2020 to 2030 to high buildings construction market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides buildings construction market analysis based on competitive intensity and how the competition will take shape in coming years.