There is an upswing in the world’s building stock after years of stagnant growth and as there is a rebound in the global constructions markets. This has been concluded in a new report From Navigation Research
The research further expects that the trend would continue into the year and would be driven by increased consumer confidence in residential construction markets, low rates of interests, a reasonable growth tin wages and a rebound in economies of developed and developing countries.
The report expects that the global building stock would grow top touch 183.5 billion square meters in 2026 form 162.8 billion square meters in 2017.
“Over the past year and a half, both developed and developing economies have enjoyed broad expansion not seen in over a decade,” says Tom Machinchick, principal research analyst with Navigant Research. “Increases in economic activity tend to accompany increases in the building stock as demand for commercial space grows, and rising income enables individuals to opt for larger or more modern living spaces, which will lead to an expanding building stock.”
The report further notes that half of all energy consumed globally and the emission of greenhouse gas is caused by commercial, residential, and industrial buildings. Additionally, the indoor environments pf buildings is a critical element of health and well-being, productivity, and safety of humans because they tend to spend almost 90 per cent of their time indoors. A better understanding of the some of the serious global issues like consumption of energy, emissions, rates of wealth and poverty, climate change, and the impact of urbanization on the current local infrastructure can be obtained through the process of quantifying the size of the global building stock.
The report not only provide relevant data on the size and growth of the global building stock from 2017 to 2026 but also presents a qualitative description of the most important drivers of growth of the industry and current and future potential trends.
The report also provides information on eight commercial building types including offices, retail, educational, healthcare, hotels and restaurants, institutional and assembly, warehouse, and transportation types of space. In the residential space, the report analyses the existing trends and the future possible trends in two residential building types - the single-family detached type and the multi-unit residential type across seven regions throughout the world. The report aims to offer a complete view of the of the entire commercial and residential building stock throughout the globe.
(Source:www.businesswire.com)
The research further expects that the trend would continue into the year and would be driven by increased consumer confidence in residential construction markets, low rates of interests, a reasonable growth tin wages and a rebound in economies of developed and developing countries.
The report expects that the global building stock would grow top touch 183.5 billion square meters in 2026 form 162.8 billion square meters in 2017.
“Over the past year and a half, both developed and developing economies have enjoyed broad expansion not seen in over a decade,” says Tom Machinchick, principal research analyst with Navigant Research. “Increases in economic activity tend to accompany increases in the building stock as demand for commercial space grows, and rising income enables individuals to opt for larger or more modern living spaces, which will lead to an expanding building stock.”
The report further notes that half of all energy consumed globally and the emission of greenhouse gas is caused by commercial, residential, and industrial buildings. Additionally, the indoor environments pf buildings is a critical element of health and well-being, productivity, and safety of humans because they tend to spend almost 90 per cent of their time indoors. A better understanding of the some of the serious global issues like consumption of energy, emissions, rates of wealth and poverty, climate change, and the impact of urbanization on the current local infrastructure can be obtained through the process of quantifying the size of the global building stock.
The report not only provide relevant data on the size and growth of the global building stock from 2017 to 2026 but also presents a qualitative description of the most important drivers of growth of the industry and current and future potential trends.
The report also provides information on eight commercial building types including offices, retail, educational, healthcare, hotels and restaurants, institutional and assembly, warehouse, and transportation types of space. In the residential space, the report analyses the existing trends and the future possible trends in two residential building types - the single-family detached type and the multi-unit residential type across seven regions throughout the world. The report aims to offer a complete view of the of the entire commercial and residential building stock throughout the globe.
(Source:www.businesswire.com)
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