The Business Research Company’s Specialty Trade Contractors Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, November 15, 2021 /EINPresswire.com/ — Artificial intelligence and robotics are becoming popular in the construction industry to alter workforce, to capture data and analyze information, eliminate human error and inconsistency, and provide quality results. Artificial Intelligence (AI) uses computer to model natural intelligence of humans in computer-controlled robots, and machine learning to solve problems and execute tasks. These artificially intelligent robots aid in performing construction activities, inspecting quality, tracking progress, real time heavy equipment monitoring, proactively alerting the operator when there is a system breakdown or malfunction and increasing safety.
The global specialty trade contractors market size is expected to grow from $3.98 trillion in 2020 to $4.33 trillion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The specialty trade contractors market is expected to reach $5.58 trillion in 2025 at a CAGR of 7%.
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Major players covered in the global specialty trade contractors industry are Vinci SA, Acs Actividades De Construcción Y Servicios, Quanta Services Inc., Kier Group, Comfort Systems.
Asia Pacific was the largest region in the global specialty trade contractors market, accounting for 39% of the market in 2020. North America was the second largest region accounting for 24% of the global market. Africa was the smallest region in the global specialty trade contractors market.
TBRC’s global specialty trade contractors market report is segmented by type into foundation, structure, and building exterior contractors, building equipment contractors, building finishing contractors, other specialty trade contractors, by application into residential building construction, nonresidential building construction, utility system construction, others, by ownership into chained, standalone, by mode into online, offline.
Specialty Trade Contractors Global Market Report 2021 – By Type (Foundation, Structure, And Building Exterior Contractors, Building Equipment Contractors, Building Finishing Contractors, Other Specialty Trade Contractors), By Application (Residential Building Construction, Nonresidential Building Construction, Utility System Construction), By Ownership (Chained, Standalone), By Mode (Online, Offline), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides specialty trade contractors market overview, forecast specialty trade contractors market size and growth for the whole market, specialty trade contractors market segments, and geographies, specialty trade contractors market trends, specialty trade contractors market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Building Finishing Contractors Global Market Report 2021 – By Type (Drywall And Insulation Contractors, Painting And Wall Covering Contractors, Flooring Contractors, Tile And Terrazzo Contractors, Finish Carpentry Contractors, Other Building Finishing Contractors), Residential Building Construction (Residential Building Construction, Nonresidential Building Construction, Utility System Construction), By Service Provider (Large Chain Companies, Independent Contractors), By Mode (Online, Offline), COVID-19 Impact And Recovery
Nonresidential Building Construction Global Market Report 2021 – By Type (Institutional Buildings, Commercial Buildings), By End User Sector (Private, Public), By Building Type (Nonresidential Smart Buildings, Traditional Buildings), COVID-19 Impact And Recovery
Utility System Construction Global Market Report 2021 – By Type (Water And Sewer Line And Related Structures Construction, Oil And Gas Pipeline And Related Structures Construction, Power And Communication Line And Related Structures Construction), By End User Sector (Private, Public), COVID-19 Impact And Recovery
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