The global building finishing contractors market size reached US$ 1,290 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,864 Billion by 2028, exhibiting a growth rate (CAGR) of 6.20% during 2023-2028. The rising construction and renovation activities in the residential and commercial sectors, surging adoption of predictive analytics, and increasing the number of firms and contractors offering professional building finishing services represent some of the key factors driving the market.
|Market Size in 2022
||US$ 1,290 Billion
|Market Forecast in 2028
||US$ 1,864 Billion
|Market Growth Rate (2023-2028)
Building finishing refers to specialized construction work that involves plastering, pointing, painting, varnishing, white and color washing, or distempering of a building. These services are offered by numerous large chain companies and independent contractors to finish a building project, such as repair, maintenance, alterations, and renovation. The main types of building finishing contractors comprise drywall and insulation contractors, flooring contractors, painting and wall-covering contractors, tile and terrazzo contractors, finish carpentry contractors, and other building finishing contractors. Some commonly offered services include wall painting, mosaic work, tile and flooring installation, fire stop service, plaster work, carpentry work, window and door frame installation, and bathroom fixing. At present, building finishing contractors provide services in various applications, such as residential construction, non-residential building construction, and utility system construction.
Building Finishing Contractors Market Trends:
As a result of the expanding global population, rapid urbanization, and aging infrastructure, there is a rise in construction and renovation activities around the world. This, coupled with the shifting focus toward making houses, surroundings, and public transport facilities more elderly-friendly due to the growing geriatric population, represents the primary factor driving the market growth. Additionally, there is a surge in the adoption of predictive analytics as it aids project managers in predicting and avoiding delays in labor availability and equipment shortages and collects weather data to help the company take preventive actions against weather conditions to prevent loss of material and labor costs. Consequently, the rising use of predictive analytics by building finishing contractors to simplify risk management, manage finances and resources, and allocate budgets has catalyzed market growth. Furthermore, governments of various nations, in both emerging and developed economies, are making heavy investments in infrastructure development and improvement. In line with this, the increasing consumer preferences for wood, laminate, and vinyl flooring owing to their enhanced aesthetic appeal and durability have propelled the market growth. Other factors, including the increasing residential and commercial construction activities, such as new construction, repair, and remodeling, coupled with the rising number of building finishing firms and contractors, improving consumer living standards, elevating income levels, and technological advancements, are also anticipated to create a favorable market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global building finishing contractors market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on contractors, application, and residential.
- Drywall and Insulation Contractors
- Painting and Wall Covering Contractors
- Flooring Contractors
- Finish Carpentry Contractors
The report has provided a detailed breakup and analysis of the building finishing contractors market based on the contractors. This includes drywall and insulation contractors, painting and wall covering contractors, flooring contractors, finish carpentry contractors, and others. According to the report, drywall and insulation contractors represented the largest segment.
A detailed breakup and analysis of the building finishing contractors market based on the application has also been provided in the report. This includes utilities, commercial, and residential. According to the report, commercial accounted for the largest market share.
- Large Chain Companies
- Individual Contractors
The report has provided a detailed breakup and analysis of the building finishing contractors market based on the residential. This includes large chain companies and individual contractors.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for building finishing contractors. Some of the factors driving the Asia Pacific building finishing contractors market included the significant growth in residential and commercial construction industries, increasing infrastructure development activities, inflating consumer expenditure capacities, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global building finishing contractors market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include APi Group Inc., Cleveland Construction Inc., Fletcher Building, JGC Holdings Corporation, Obayashi Corporation, Performance Contracting Group Inc., Takenaka Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Drywall and Insulation Contractors, Painting and Wall Covering Contractors, Flooring Contractors, Finish Carpentry Contractors, Others
||Utilities, Commercial, Residential
||Large Chain Companies, Individual Contractors
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||APi Group Inc., Cleveland Construction Inc., Fletcher Building, JGC Holdings Corporation, Obayashi Corporation, Performance Contracting Group Inc., Takenaka Corporation, etc.
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Key Questions Answered in This Report:
- How has the global building finishing contractors market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global building finishing contractors market?
- What is the impact of each driver, restraint, and opportunity on the global building finishing contractors market?
- What are the key regional markets?
- Which countries represent the most attractive building finishing contractors market?
- What is the breakup of the market based on the contractors?
- Which are the most attractive contractors in the building finishing contractors market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the building finishing contractors market?
- What is the breakup of the market based on the residential?
- Which is the most attractive residential in the building finishing contractors market?
- What is the competitive structure of the global building finishing contractors market?
- Who are the key players/companies in the global building finishing contractors market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the building finishing contractors market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global building finishing contractors market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the building finishing contractors industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.