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(MoneyNewsWire.Net, July 17, 2018 ) The specialty trade contractors’ construction industry includes establishments involved in performing specific activities such as pouring concrete, site preparation, plumbing, painting and electrical work related to construction of buildings.
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The reason for the substantial growth of the market from $3.7 trillion in 2017 to $4.9 trillion by 2021 are the growing demand for infrastructure and housing, strong economic growth in developing countries, rapid urbanization, rising disposable income, development of new cities in emerging countries and increasing government spending on infrastructure globally.
The specialty trade contractors construction market in The Business Research Company’s report is segmented into building equipment contractors; building finishing contractors; foundation, structure, and building exterior contractors and other specialty construction contractors. Building equipment contractors and building finishing contractors segment accounts for more than half of the market while the rest of the market share is attributed to the other two segments.
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Asia Pacific was the largest country in the specialty trade contractors construction market in 2017, accounting for nearly two-fifth of the market share. This was mainly due to presence of a large number of specialty construction contractor establishments serving a large customer base such as highway construction, housing and other infrastructure companies in the country followed by North America as the next largest countries in the market.
Vinci SA was the largest competitor in the specialty trade contractors construction market, followed by Acs, and Quanta Services Inc. Vinci is a French construction company that designs, builds, finances and manages services such as public and private buildings, transport systems, urban developments, and energy, water and communication networks. Vinci SA was incorporated in 1899 and is based Rueil-Malmaison, France with global workforce of nearly 200,000 people.
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