New York, December 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Residential Land Planning And Development Global Market Report 2022” – https://www.reportlinker.com/p06193656/?utm_source= GNW
$ 85 billion in 2021 to $ 130.44 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 203.71 billion in 2026 at a CAGR of 11.8%.
The residential land development and development market includes the sale of residential land development and development services and related goods by entities (organizations, sole proprietorships and partnerships) that service land and subdivide real estate into lots, with a view to their subsequent sale to builders for residential construction. Residential land use planning and development refers to one or more houses, structures or parts thereof that are planned and used for human habitation. Single-family, duplex or multi-family dwellings, apartment / condominium buildings, mobile homes, short / long land developments and other structures that house people are all included. Land servicing may include excavation work for the installation of roads and utility lines.
The main types of residential land use and development are houses and subdivisions, apartments and other residential developments. Houses and subdivisions include a single house, semi-detached house, garden suite, special care / special needs housing, secondary accommodation and the residential component of a mixed-use structure.
The different service providers include large chain companies, independent contractors and the type of construction includes new construction and renovation.
Asia-Pacific was the largest region in the residential land development and development market 2021. North America was the second largest region in the residential land development and development market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
Technological development will be a key driver of the residential land planning and development market during the forecast period. Areas of rapid technological change include smart highways, concrete 3D printing, drone surveying, kinetic roads, “little houses” and solar roads.
Due to the advancement in technology, the demand for better infrastructure, which will have an additional positive impact on the growth of the residential land planning and development market.
Technologies such as augmented reality (AR) are gaining popularity in the residential land use planning and development market for faster construction and to reduce costs associated with construction. Augmented reality is the real world supplemented by computer-generated sensory inputs, allowing the creation of a 3-dimensional model of the construction design to interact realistically.
These technologies benefit the construction industry by reducing rework, increasing quality, reducing labor costs, meeting deadlines, improving safety and customer experience, streamlining collaboration , design analysis, measurement accuracy, construction project management and presentation of plans. Some of the major construction companies using AR technology are McCarthy Building Companies, Mortensen Construction Companies, BNBuilders, Inc and ISG, Global Construction Services Company.
Over the forecast period, interest rates globally are expected to rise in most developing and developed economies; this should limit new investment in capital intensive industries such as residential land use planning and the development market. Most countries around the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.
This will likely affect new investments in terms of expansion, research and development of new products. US interest rates, for example, are expected to rise to 4.0% by 2022. In addition, rising interest rates are expected to have a major impact on residential and non-residential housing construction. Higher mortgage rates not only discourage new home buyers, but also put pressure on homeowners, forcing them to sell. For example, the average mortgage rate in the United States was around 3.1% in 2021. These factors are expected to negatively impact the market as borrowing money becomes expensive, which affects the growth of the market.
Countries Covered in Residential Land Placement and Development Market Report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, States United, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06193656/?utm_source=GNW
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