The Total Global Building Stock Is Estimated to Grow from 165.8 Billion m2 in 2019 to 184.7 Billion m2 in 2028
During the next decade, the highest rates of building growth are expected to occur in developing areas of the world, including Asia Pacific, Latin America, the Middle East, and Africa
A new report from Navigant Research provides data on the size and growth of the global building stock from 2019 to 2028, as well as a qualitative description of key growth drivers and trends.
Commercial, residential, and industrial buildings are responsible for nearly half of all global energy consumption and greenhouse gas emissions. Humans also spend almost 90% of their time indoors, making indoor environments a critical component of health, well-being, productivity, and safety. Quantifying the size of the global building stock can be a fundamental tool for understanding and combatting pressing global issues such as energy consumption, greenhouse gas emissions, wealth and poverty rates, climate change, and the impact of urbanization on existing local infrastructure. Click to Tweet: According to a new report from Navigant Research, the total building stock is estimated to grow from 165.8 billion m2 in 2019 to 184.7 billion m2 in 2028.
“In recent years, construction markets have recovered slowly, along with the overall global economic outlook, which can be a positive for building stock growth,” says Johnathon de Villier, research analyst with Navigant Research. “Other factors, however—such as shifts in the global political landscape, extreme weather events, and other social tumult—add uncertainty to the construction markets, which can hinder building stock development.”
During the next decade, the highest rates of building growth are expected to occur in developing areas of the world, including Asia Pacific, Latin America, the Middle East, and Africa. Africa will realize the largest percentage growth in overall building stock at a compound annual growth rate of 3.4% over the forecast.
The report, Global Building Stock Database, provides data on the size and growth of the global building stock from 2019 to 2028, as well as a qualitative description of key growth drivers and trends. The building stock data covers eight commercial building types (office, retail, education, healthcare, hotels and restaurants, institutional/assembly, warehouse, and transport) and two residential building types (single-family detached and multi-unit residential) for seven regions worldwide. This study is intended to provide a comprehensive picture of the total commercial and residential building stock around the world. An Executive Summary of the report is available for free download on the Navigant Research website.
*The information contained in this press release concerning the report, Global Building Stock Database, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.