Building Finishing Contractors Market Size
Building finishing contractors consist of firms that offer specific services to finish buildings. The services involved are alterations, repair, maintenance, and additions. Contactors included in this industry are tile and terrazzo contractors, painting and wall covering contractors, flooring contractors, drywall and insulation contractors, finish carpentry contractors, and other contractors. Tile and terrazzo contractors involved in mosaic work, ceramic tile installation, and stone flooring installation. painting and wall contractors provide facilities associated with interior or exterior painting such as house painting, hanging wallpaper, and bridge painting. Drywall and insulation contractors are involved in the plasterwork, firestop services, and building insulation. finish carpentry contractor's work includes door and window frame construction, garage door installation, and countertop installation. Other building finishing contractors perform a task related to drapery fixture installation, bathtub refinishing, and dismantling.
Market Highlights
Global Building Finishing Contractors market is expected to project a notable CAGR in 2030.
Global Building Finishing Contractors market to surpass USD 2.311 million by 2030 from USD 1.1 million in 2020 at a CAGR of 7.4% throughout the forecast period, i.e. 2020-30. Global Building Finishing Contractors market is expected to observe a growth in future owing to technological advancements and the changing lifestyle of people. The multi-featured product offerings by the building finishing contractors may have a positive impact on the market growth. Furthermore, the mounting population coupled with the rising disposable income is projected to increase the market.
Global Building Finishing Contractors Market: Segments
Drywall and Insulation segment to grow with the highest CAGR during 2020-30
Global Building Finishing Contractors market is segmented by type into drywall and insulation contractors; painting and wall covering contractors; flooring contractors; tile and terrazzo contractors; finish carpentry contractors; other building finishing contractors. The drywall and Insulation segment held the largest market share of XX.X% in the year 2019 and is expected to dominate the global market throughout the forecast period. Drywall is the huge stiff sheet of finishing material used in drywall construction. It is affordable than plaster walls which makes it popular for homeowners. Also, it easy to install and repair
Commercial segment to grow with the highest CAGR during 2020-30
Global Building Finishing Contractors market is segmented by application into utilities, commercial, residential. The commercial segment held the largest market share of XX.X% in the year 2019 and is expected to maintain this trend throughout the forecast period. Demand from commercial construction is likely to rise on account of improved consumer expenditure and increasing corporate profit. The Building Finishing Contractors industry is anticipated to benefit from persistent improvements in major downstream building markets.
Market Dynamics
Drivers
Advancement in Technology and Innovation
To improve labor productivity cost control, and safety the building finishing contractors are rapidly utilizing digital technologies such as RFID tagging, smartphones, and software. The RFID tagging is primarily used to track field personnel and for material handling. The smartphones assist the workers in reporting files about the building progress and share data on job sites. To deliver the construction-specific services to the contractors some mobile apps like Labor Sync, Red-Trac, and Timesheet Mobile are available.
Change in Lifestyle
With the change in lifestyle and the significant rise in disposable income the demand for building finishing contractors is increasing. To give attractive finishing to the buildings and home and to enhance their aesthetic qualities the market for building finishing contractors is expected to grow. The foremost type of finishing work includes plastering, painting, wallpapering, and flooring.
Restraints
Safety and Health Concern
Issues regarding safety and health are one of the major worries in the building finishing industry. tasks such as handling loads manually, working in confined spaces, handling hazardous materials, and contact to live electric wires are anticipated to hamper the market over the forecast period.
Global Building Finishing Contractors Market: Key Players
- API
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Performance Contracting
- Cleveland Construction
- Irex Corp Of Lancaster
- Other Prominent Players
Global Building Finishing Contractors Market: Regions
Global Building Finishing Contractors market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
Global Building Finishing Contractors market in Asia Pacific held the largest market share of XX.X% in the year 2019. The continuation of the development process and adoption of innovative technologies in this region is estimated to boom the growth of the building finishing contractors market. Moreover, rising population and urbanization are expected to bolster the market. Europe will witness an expansion in the growth in the global market followed by APAC and EMEA.
Global Building Finishing Contractors market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Building Finishing Contractors market report also contains analysis on:
Building Finishing Contractors Market Segments:
- By Type
- Drywall and Insulation Contractors
- Painting and Wall Covering Contractors
- Flooring Contractors
- Tile and Terrazzo Contractors
- Finish Carpentry Contractors;
- Other Building Finishing Contractors
- By Application
- Utilities,
- Commercial
- Residential
- Others
- By Service Provider
- Large Chain Companies
- Independent Contractors
- Building Finishing Contractors Market Dynamics
- Building Finishing Contractors Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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