Press Release

Building Inspection Services Market to Grow with a CAGR of 12.19% through 2028

Increasing safety concerns and technological advancements are likely to drive the market in the forecast period.

 

According to TechSci Research report, “Building Inspection Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Building Inspection Services Market stood at USD 10.08 billion in 2022 and is anticipated to grow with a CAGR of 12.19% in the forecast period.

 

One of the primary drivers of the Building Inspection Services market is the ongoing trend of global urbanization and infrastructure development. As populations continue to shift from rural to urban areas, there is a growing need for new construction projects and the maintenance of existing structures within expanding cities. This phenomenon results in a significant demand for building inspection services to ensure that buildings and infrastructure are constructed in compliance with safety standards, building codes, and environmental regulations. Building inspectors play a vital role in verifying structural integrity, fire safety, electrical systems, and other critical components to ensure public safety and mitigate risks. Furthermore, as urban areas strive to become more sustainable, building inspection services are instrumental in assessing compliance with green building codes and energy efficiency standards. This aligns with global efforts to promote environmentally responsible construction practices, further fueling the demand for inspection services.

           

Stringent regulatory requirements and compliance standards established by governments and local authorities represent another significant driver of the Building Inspection Services market. These regulations are implemented to safeguard public safety, promote energy efficiency, and ensure environmental sustainability in the construction and real estate sectors. Construction projects must undergo comprehensive inspections at various stages, from planning and design to construction and occupancy, to meet these regulatory requirements. Building inspectors are tasked with enforcing these codes, ensuring builders and developers adhere to the necessary standards. The complexity and diversity of these regulations, which often vary by region and jurisdiction, create a strong demand for specialized inspection services. Companies providing building inspection services must remain current with evolving regulations, adapt their practices accordingly, and maintain a deep understanding of local codes and standards to remain compliant. In conclusion, the Building Inspection Services market is driven by the increasing urbanization and infrastructure development worldwide, as well as the need to adhere to stringent regulatory requirements and compliance standards. These factors underscore the critical role of building inspectors in ensuring the safety, quality, and sustainability of construction projects.

 

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Building Inspection Services Market. 

 

 

The Global Building Inspection Services Market is segmented into service, application, sourcing type and region.

Based on service, The Home Inspection Services segment had the largest market share in 2022 & expected to maintain it in the forecast period. he residential real estate market typically experiences a higher volume of transactions compared to commercial or specialized properties. More people buy and sell homes than commercial buildings or specialized properties. Each residential transaction often involves a home inspection, making this segment larger in terms of sheer volume. Homebuyers are increasingly aware of the importance of home inspections. They recognize that a home inspection can uncover potential issues or safety concerns, helping them make informed decisions. As such, there is a strong consumer demand for home inspection services. In many regions, home inspections are either legally required or strongly recommended as part of the home buying process. Mortgage lenders may also require inspections before approving loans. These legal and financial considerations drive the demand for home inspection services. Home inspection services cater to a wide range of clients, including first-time homebuyers, real estate investors, and those looking to upgrade or downsize. This diversity in the client base contributes to the high demand for home inspections.

 

Based on sourcing type, The Outsourced Services segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Outsourcing building inspection services can often be more cost-effective for companies compared to maintaining an in-house inspection team. Outsourced providers may have specialized equipment and resources, which can reduce overall operational costs. Building inspection service providers typically specialize in this field and have a dedicated team of experts with in-depth knowledge of building codes, regulations, and industry best practices. This specialization can lead to more accurate and reliable inspections. Outsourced providers may invest in the latest inspection technology and tools, such as drones, thermal imaging cameras, and software for data analysis. This technology can enhance the quality and efficiency of inspections. Outsourcing allows companies to scale their inspection services up or down as needed. They can easily adjust their level of service without the commitment of hiring and training full-time employees. Managing an in-house inspection team involves administrative tasks such as hiring, training, payroll, and benefits.

 

Major companies operating in the Global Building Inspection Services Market are:

  • SGS S.A
  • Intertek Group plc
  • Bureau Veritas
  • A2Z Building Inspection
  • URS Corporation
  • TÜV SÜD Inspection services
  • DNV AS
  • RINA S.p.A
  • AECOM
  • Encon Associates Limited

 

Download Free Sample Report

Customers can also request for 10% free customization on this report. 

 

“The Global Building Inspection Services market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The growth in the market is mainly due to the increasing demand for building inspection services from various end-users such as commercial, residential, and industrial sectors. The increasing safety concerns related to buildings, such as fire safety, structural integrity, and environmental compliance, are also driving the demand for building inspection services. Additionally, North America had the largest market for building inspection services in 2022. This is due to the presence of a large number of construction projects in the region and the stringent government regulations related to building safety. . Therefore, the market of Building Inspection Services is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

 

Building Inspection Services Market By Service (Home Inspection Services, Specific Element Inspection Services, Commercial Building Inspection Services, and Others), By Application (Residential, Commercial, and Others), By Sourcing Type (In-House Services and Outsourced Services), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Building Inspection Services Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Building Inspection Services Market.

 

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: https://www.techsciresearch.com

Relevant News