Population growth increases demand for renovations and development of buildings drives market growth.
PORTLAND, OR, UNITED STATES, October 21, 2021 /EINPresswire.com/ – The demand for the construction of residential buildings is increasing due to the increase in disposable income and the development of new products. In addition, the increased migration of population to Europe creates a need for commercial construction and increases the demand for building renovations and the development of new buildings. In addition, the construction products such as siding, moldings and sub-floors are highly necessary to protect exterior and interior infrastructure from the impact of environmental changes, as well as to give aesthetic appeal to infrastructure.
The market was worth $ 89,090.4 million in 2017 and is expected to grow to $ 124,115.8 by 2023.
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However, the shortage of skilled labor for installation, high cost of materials, insufficient dissemination of knowledge, and poor quality materials provided by some suppliers are difficult factors which may hamper the growth of the product market. construction in Europe.
Rapid urbanization and industrialization provide growth opportunities for manufacturers. The construction sector is the most dynamic and buoyant sector in the European economy. The rapid growth and development of urban areas translates into shorter construction times and lower costs. In addition, population growth and urbanization are increasing the demand for jobs, housing, energy, drinking water, food, transport infrastructure and social services, providing growth opportunities for people. manufacturers to develop their activities in Europe.
This in turn, increasing the network of competitors in Europe. Many key players are acquiring and partnering with other manufacturers to enhance their capabilities. For example, Italcementi, a subsidiary of HeidelbergCement, acquired Cementir Italia to improve its presence and develop its activities in Italy.
Key market players
Wienerberger Baustoffindustrie AG
Royal Europa Sp. Zoo
Hanson Construction Products Limited
Construction Hekim inc.
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Key market segments
By product type
By end user
Shopping mall and retail store
Rest of Western Europe
Rest of Eastern Europe
The rest of europe
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