PUBLISHER: The Business Research Company | PRODUCT CODE: 1563208
PUBLISHER: The Business Research Company | PRODUCT CODE: 1563208
Education buildings refer to establishments used only for a school or college, recognized by the relevant Board or A university or any other authorized entity that organizes gatherings for purposes such as instruction, education or recreation related to educational activities. This also includes buildings used for related functions, such as a library or research institution. Additionally, it must contain housing for any necessary staff members who must live on the property as well as any hostel facilities owned by an educational institution, whether they are on the campus or not.
The education buildings market consists of revenues earned by entities (organizations, sole traders and partnerships) through the construction of education buildings. Education buildings are establishments that provide academic and/or technical teaching and may serve as a venue for community meetings, in addition to cafeterias, book stores, amusement centers and gathering spaces for students. Public and private schools, as well as community colleges, are examples of education buildings.
The global education buildings market was valued at $533.41 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Growing Emphasis On Sustainable Building Practices
Growing emphasis on sustainable building practices propelled the growth of the education buildings market in the historic period. Sustainable building refers to the design and construction of structures that minimize environmental impact, maximize energy efficiency and use eco-friendly materials. Sustainable building is increasing due to growing awareness of environmental impact, the demand for energy efficiency and the need for long-term cost savings. Sustainable building in educational facilities reduces energy costs, creates healthier learning environments and promotes environmental stewardship among students. For instance, In September 2023, the World Green Building Council, a US-based non-profit organization and global network of national Green Building Councils, reported that around 40% of global carbon emissions stem from building construction and the energy required to operate them. Additionally, owners have noted that new green buildings and renovations see an asset value increase of over 9%. Therefore, growing emphasis on sustainable building practices drove the growth of the education buildings market.
Modular Construction Of Education Buildings To Gain Flexibility
Modular construction is gaining popularity in the education buildings market. Educational institutions are increasingly turning to modular construction methods to address the need for flexible, cost-effective and time-efficient solutions. Modular buildings offer the advantage of rapid construction, minimal on-site disruption and the ability to customize spaces for diverse educational purposes, from classrooms to administrative offices. For instance, in June 2022, CRATE Modular, a US-based manufacturer of steel modular buildings, partnered with Education Facilities Group (EFG), a US-based school developer, for constructing a 23,000 square foot facility for the Girls Athletic Leadership School (GALS LA) in Los Angeles, California, USA. The new GALS LA two-story educational structure will include (17) cutting-edge classrooms made from reused shipping containers, each with an open layout, windows and contemporary amenities.
The global education buildings market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 0.98% of the total market in 2023.
Education Buildings Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global education buildings market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for education buildings? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The education buildings market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider education buildings market; and compares it with other markets.