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Global Residential Construction Market Share, Forecast: By Type: Apartment, Villas, Others; By Construction Type: New Construction, Renovation; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Residential Construction Market Outlook
The global residential construction market size reached approximately USD 4.92 trillion in 2023. The market is further projected to grow at a CAGR of 5.0% between 2024 and 2032, reaching a value of USD 7.66 trillion by 2032.
Key Trends in the Market
Residential construction refers to repair, alteration, maintenance, construction, and improvement of duplexes, condominiums, villas, and apartments, among other residential structures. The construction of spaces intended for residential applications is a complex process, involving various stakeholders and phases. Residential construction is also essential for boosting the economy as it generates tax revenue and provides jobs.
- The increasing urbanisation owing to availability of better employment opportunities in urban locations as opposed to rural areas is bolstering the residential construction market growth. The migration of rural youth to urban towns and cities can also be attributed to presence of various social benefits and emergence of factory systems.
- The rising maintenance, improvement, and alteration activities owing to increasing disposable incomes are providing lucrative growth opportunities to the market. Regular and semi-regular maintenance activities allow individuals to save costs by avoiding major alterations and construction activities.
- Growing adoption of green technologies and materials by the residential construction companies owing to rising environmental concerns is supporting the market expansion. The adoption of these practices ensures minimal environmental impact and resource efficiency through the different stages of the construction process.
- Adoption of novel technologies including 3D models and augmented and virtual reality, among others is helping in reduction of costs and aiding in faster construction processes, bolstering the market growth.
Global Residential Construction Market Analysis
On the basis of type, the market is divided into apartment and villas, among others. Based on construction type, the market is bifurcated into new construction and renovation.
On the basis of region, the residential construction market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Lennar Corporation
- Taylor Morrison, Inc.
- Pultegroup, Inc.
- LGI Homes, Inc.
- Toll Brothers
- Century Communities
- KB Home
- Meritage Homes Corporation
- NVR, Inc.
- CMH Services, Inc.
- Others
Market Share by Construction Type
New construction segment is anticipated to account for a significant residential construction market share over the forecast period. The factors influencing the expansion of the segment include rising disposable incomes, population, and urbanisation. Due to the strengthening economic conditions, the general population is more inclined towards purchasing mew homes and apartments that offer customisable options, energy efficiency, and modern features. The construction of new single and multi-family units, residential units, and housing projects is further bolstering the segment growth.
Market Share by Region
North America is expected to witness significant growth in the coming years. This growth can be attributed to the strong presence of various key market players including Lennar Corporation, Taylor Morrison, Inc., and Pultegroup, Inc., among others in North America, favourable lending conditions, and rapid economic development. The residential construction market demand is increasing in the region owing to the adoption of sustainable construction practices, growing emphasis on energy-efficient housing, and rising innovation projects.
Competitive Landscape
Lennar Corporation, headquartered in Florida, United States, is one of the leading home builders of multifamily and luxury single homes. They strengthen communities and empower real estate professionals by delivery exceptional services and support.
Taylor Morrison, Inc., headquartered in Arizona, United States, is a land developer and homebuilder that is dedicated towards supporting their customers. The company is known for building, selling, and designing multi-family and single-family attached and detached homes.
Pultegroup, Inc., headquartered in Georgia, United States, is a residential home construction company that offers superior operational execution and exceptional customer service. The company markets under some of the best-known industrial brands including DiVosta, Pulte, and American West, among others.
Other residential construction market key players include LGI Homes, Inc., Toll Brothers, Century Communities, KB Home, Meritage Homes Corporation, NVR, Inc., and CMH Services, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Construction Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Residential Construction Market Analysis
8.1 Key Industry Highlights
8.2 Global Residential Construction Historical Market (2018-2023)
8.3 Global Residential Construction Market Forecast (2024-2032)
8.4 Global Residential Construction Market by Type
8.4.1 Apartment
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Villas
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Residential Construction Market by Construction Type
8.5.1 New Construction
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Renovation
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Residential Construction Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Residential Construction Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Residential Construction Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Residential Construction Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Residential Construction Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Residential Construction Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Lennar Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Taylor Morrison, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Pultegroup, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 LGI Homes, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Toll Brothers
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Century Communities
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 KB Home
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Meritage Homes Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NVR, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 CMH Services, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Residential Construction Market: Key Industry Highlights, 2018 and 2032
2. Global Residential Construction Historical Market: Breakup by Type (USD Trillion), 2018-2023
3. Global Residential Construction Market Forecast: Breakup by Type (USD Trillion), 2024-2032
4. Global Residential Construction Historical Market: Breakup by Construction Type (USD Trillion), 2018-2023
5. Global Residential Construction Market Forecast: Breakup by Construction Type (USD Trillion), 2024-2032
6. Global Residential Construction Historical Market: Breakup by Region (USD Trillion), 2018-2023
7. Global Residential Construction Market Forecast: Breakup by Region (USD Trillion), 2024-2032
8. North America Residential Construction Historical Market: Breakup by Country (USD Trillion), 2018-2023
9. North America Residential Construction Market Forecast: Breakup by Country (USD Trillion), 2024-2032
10. Europe Residential Construction Historical Market: Breakup by Country (USD Trillion), 2018-2023
11. Europe Residential Construction Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12. Asia Pacific Residential Construction Historical Market: Breakup by Country (USD Trillion), 2018-2023
13. Asia Pacific Residential Construction Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Latin America Residential Construction Historical Market: Breakup by Country (USD Trillion), 2018-2023
15. Latin America Residential Construction Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Middle East and Africa Residential Construction Historical Market: Breakup by Country (USD Trillion), 2018-2023
17. Middle East and Africa Residential Construction Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Global Residential Construction Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 4.92 trillion in 2023.
The market is projected to grow at a CAGR of 5.0% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 7.66 trillion by 2032.
The major market drivers include rising maintenance, improvement, and alteration activities owing to increasing disposable incomes, favourable lending conditions, and rapid economic development.
The key trends fuelling the growth of the market include adoption of green technologies and materials and utilisation of novel technologies including 3D models and augmented and virtual reality, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant construction types include new construction and renovation.
The key players in the market are Lennar Corporation, Taylor Morrison, Inc., Pultegroup, Inc., LGI Homes, Inc., Toll Brothers, Century Communities, KB Home, Meritage Homes Corporation, NVR, Inc., and CMH Services, Inc., among others.
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