The Business Research Company’s Land Planning And Development Global Market Report 2021: COVID-19 Impact and Recovery to 2031
LONDON, GREATER LONDON, UK, January 11, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
A rapidly growing urban population is expected to increase the demand for new residential buildings during the forecast period. Globally, around 60% of urban settlements remain to be built. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines, which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. This rapid urbanization is expected to boost the demand for new infrastructure and drive the residential land planning and development market during the forecasted period.
The global land planning and development market is expected to grow from $108.64 billion in 2020 to $116.17 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. 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 land development market is expected to reach $173.11 billion in 2025 at a CAGR of 10%.
The global land planning and development market is segmented by type into residential land planning and development, commercial and institutional land planning and development, industrial land development and planning and by ownership into chained and standalone. Subsegments covered are houses and housing estate developments, apartments, and other residential developments.
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