Knowledge of the size of the global building stock is fundamental to understanding and combating issues such as climate change, poverty, greenhouse gas emissions, energy consumption and the impact of urbanisation on local infrastructure.
Navigant Research has issued a new report which looks at the global building stock and the relationship between the market and energy sustainability as well as climate change.
The study states that:
- The total building stock will reach 184.7 billion m2 in 2028 from 165.8 billion m2 in 2019.
- 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.
- Commercial, residential, and industrial buildings are responsible for nearly half of all global energy consumption and greenhouse gas emissions.
- Humans spend almost 90% of their time indoors.
- Africa will record an annual compound growth rate of 3.4%.
Johnathon de Villier, a research analyst at Navigant Research, said: “In recent years, construction markets have recovered slowly, along with the overall global economic outlook, which can be a positive for building stock growth.
“Other factors, however—such as shifts in the global political landscape, extreme weather events, and other social tumults—add uncertainty to the construction markets, which can hinder building stock development.”
For more information about the report, visit Global Building Stock Database