Major players in the entertainment and sports buildings market are Shanghai Construction Group Co. Ltd., Bouygues SA, Obayashi Corporation, Daiwa House Industry Co. Ltd., Metallurgical Corporation of China Limited, Sunac China Holdings Ltd.
New York, June 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Entertainment And Sports Buildings Global Market Report 2023" – https://www.reportlinker.com/p06464139/?utm_source=GNW
, Kajima Corporation, Brookfield Asset Management, Sekisui House Ltd., China Communications Construction Company Ltd., China State Construction Engineering Corp. Ltd., Larsen & Toubro Ltd., Vinci Construction, and Greenland Holding Group.
The global entertainment and sports building market is expected to grow from $258.93 billion in 2022 to $274.63 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The entertainment and sports building market is expected to reach $327.75 billion in 2027 at a CAGR of 4.5%.
The entertainment and sports buildings market includes revenues earned by entities by constructing museums, stadiums, theatres, and sports complexes.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
An entertainment and sports building refers to a complex covering hundreds of acres that needs a ticket for entry to watch a sporting event and entertainment event.They include watching plays, and movies, and participating in athletics.
The industry includes the design and construction of entertainment and sports buildings.
Asia-Pacific was the largest region in the entertainment and sports buildings market in 2022.Africa is expected to be the fastest-growing region in the forecast period.
The regions covered in the entertainment and sports buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main entertainment and sports building types are non-residential smart buildings and traditional buildings.Non-residential smart buildings are businesses that employ technology and automation to raise their energy efficiency, maximize their use of available space, and improve the comfort and productivity of their occupants .
The various construction types are new construction and renovation and the end users include private and public.
The growing investment by the government for the improvement of various buildings is driving the growth of the entertainment and sports buildings market going forward.The construction and renovation of sports and entertainment facilities can be significantly aided by government investments.
Governments fund the development of new sports and entertainment structures as well as the renovation of preexisting ones.These funds, which may take the form of grants or loans, can help defray some of the expenses related to constructing or improving these facilities.
Hence, the increasing government funding for sports and entertainment building improvement is boosting the market. For instance, in March 2022, according to a report published by the government of the UK, a total of £230 million ($285.5 million) will be invested to help build or upgrade up to 8,000 best pitches across the UK over the next four years, with £39 million ($48.4 million) going towards football facilities in England this fiscal year. Clubhouses, locker rooms, and community buildings will also be built or renovated with the funding. Therefore, the growing investment by the government for the improvement of various buildings is boosting the growth of the entertainment and sports buildings market.
Technological advancements are the key trend gaining popularity in the entertainment and sports buildings market.Major companies operating in the market are developing innovative technologies such as the use of autonomous vehicles for construction such as autonomous track loaders (ATL), autonomous dozers, and other advanced technologies to sustain their position in the market.
For instance, in December 2021, Komatsu Ltd., a Japan-based manufacturer of construction, mining, forestry, and military equipment, launched the Smart Construction Drone to simplify production tracking. It is uniquely designed with the 3D visualization power and geospatial accuracy of Cesium for the collection of accurate topographical data and capturing quantities for production tracking. It can take still photos from up to 400 feet above ground level or under bridge decks.
In October 2022, Bouygues SA, a France-based engineering group involved in construction, energy, and transport infrastructure, acquired Equans for €6.1 billion ($6.64 billion). The acquisition is expected to enable Bouygues to strengthen and expand its portfolio and position itself as a leading force in the multi-technical services market. Equans is an Austria-based designer and provider of customized solutions in construction.
The countries covered in the entertainment and sports buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The entertainment and sports building market research report is one of a series of new reports that provides entertainment and sports building market statistics, including entertainment and sports building industry global market size, regional shares, competitors with an entertainment and sports building market share, detailed entertainment and sports building market segments, market trends and opportunities, and any further data you may need to thrive in the entertainment and sports building industry. This entertainment and sports building market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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