Factory Buildings Global Market Report 2023

Major players in the factory buildings market are Pretorius Structures, FEG Global, Tasin Company Ltd., Ajinomoto Engineering Corporation (AJEC), N.S.L Construction Co. Ltd., Tata Projects, L&T Construction, Hitachi Plant Construction Ltd.

New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Factory Buildings Global Market Report 2023" - https://www.reportlinker.com/p06464056/?utm_source=GNW
, Primus Builders, Sika Group, Power Plant Construction Company, AME Construction, Hindustan Construction Company, Dilip Buildcon, and Turner Construction.

The global factory buildings market is expected to grow from $292.27 billion in 2022 to $302.29 billion in 2023 at a compound annual growth rate (CAGR) of 3.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The factory buildings market is expected to reach $328.89 billion in 2027 at a CAGR of 2.1%.

The factory buildings market includes revenues earned by entities by constructing heavy manufacturing buildings, light assembly buildings, general warehouses and distribution warehouses.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

A factory building is a place where products are manufactured and put together.These industrial buildings are defined with less than 20% office area structures, available truck loading docks, and at least 10 feet of clear height.

It is a single-story building with heavy manufacturing and light assembly production facilities. They feature larger overhead rooms for a given amount of floor space.

Asia-Pacific was the largest region in the factory buildings market in 2022. The regions covered in factory buildings report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The type of factory buildings include residential and non-residential that is made from aggregates, cement and bricks.Residential area is a piece of land that is primarily used for residential purposes.

The construction type of factory buildings include new construction, renovation. The factory buildings are owned or rental and used by both public and private purposes.

The increasing government expenditures for infrastructural development are expected to propel the growth of the factory buildings market going forward.The government allots funds to infrastructure development which is meant to increase the level of investment in the country and possibly economic growth.

The factory buildings are industrial construction which is a part of infrastructural development.Hence, the increasing government expenditures for infrastructural development will rise the demand for factory buildings.

For instance, in January 2022, according to a press release published by State Council of the People’s Republic of China, the China’s fixed-asset investment up 4.9% in 2021. The investment in the primary, secondary, and tertiary sectors grew last year from the 2020 level by 9.1%, 11.3%, and 2.1% respectively. Therefore, the increase in government expenditure for infrastructural development is driving the growth of the factory buildings market.

Integration of advanced technology is a key trend gaining popularity in the factory buildings market.Major companies operating in the factory buildings market are adopting advanced technology to sustain their position in the market.

For instance, in June 2022, Bjarke Ingels Group, a New-York based architecture company, has finished building a brand-new 7,000-square-metre sustainable furniture factory for Vestre, Norwegian-based furniture maker in the middle of the Norwegian forest.The Bjarke Ingels Group has developed vibrant factory devoted to the most eco-friendly, carbon-neutral manufacture of urban furniture, providing clean, contemporary places for various manufacturing operations and the high-efficiency production of the future.

It is constructed from repurposed steel, low-carbon concrete, and wood from local sources. The project is anticipated to become the first industrial structure to receive the top environmental BREEAM Outstanding grade.

In October 2022, M.B.

Kahn Construction Co.Inc, a US-based construction company acquired McKenzie Construction Corp for an undisclosed amount.

With this acquisition, M.B.

Kahn Construction will build McKenzie’s achievements in Southeast Virginia and Eastern North Carolina. McKenzie Construction is a US-based construction company operating in commercial construction, including construction of factory buildings.

The countries covered in the factory buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The factory buildings market research report is one of a series of new reports that provides factory buildings market statistics, including factory buildings industry global market size, regional shares, competitors with factory buildings market share, detailed factory buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the factory buildings industry. This factory buildings market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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