Yahoo Finanza Entertainment Buildings Global Market Report 2023
Major players in the entertainment buildings market are Larsen & Turbo Group (L&T), Tata Projects Ltd., Ircon International Limited, Jaypee Group, Punj Lloyd Limited, Essar Group, Gammon India Ltd., Hindustan Construction Company (HCC), IVRCL Infrastructures & Projects Ltd.
New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Entertainment Buildings Global Market Report 2023" - https://www.reportlinker.com/p06464108/?utm_source=GNW
, Theme Park Build Ltd., Play Mart International, Garmendale Engineering, WaterPark Construction Inc., David Theming Works, and Forté Specialty Contractors.
The global entertainment buildings market is expected to grow from $104.00 billion in 2022 to $109.27 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. 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 buildings market is expected to reach $125.89 billion in 2027 at a CAGR of 3.6%.
The entertainment buildings market includes revenues earned by entities by constructing amphitheatre, aquarium, sports arena, art house, and auditoriums.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.
Entertainment buildings refer to the structures that are specifically designed for hosting performances, concerts, movies, and other forms of entertainment.They can serve a variety of purposes, such as providing a venue for events, and also offer additional amenities such as restaurants, bars, and merchandise shops, creating a complete entertainment experience for their visitors.
It involves the design and construction of entertainment buildings.
Asia-Pacific was the largest region in the entertainment buildings market in 2022. The regions covered in the entertainment buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of entertainment buildings are residential and non-residential, in which the main types of construction involved are new construction and renovation.A residential building is one that provides sleeping quarters for traditional residential uses, with or without kitchen or eating amenities.
These are used for several applications, including owned and rental, and are used by several end-users, including private and public.
The increasing construction spending is expected to propel the growth of the entertainment buildings market going forward.Construction spending refers to the expenses made on new construction and includes a variety of construction-related expenditures such as manpower, materials, and infrastructure work.
An increase in construction spending favourably influences entertainment buildings since it leads to the development of new entertainment buildings, such as music halls, theatres, and sports stadiums. For instance, in March 2023, according to a recent statistical report published by the United States Census Bureau, a US-based agency of the U.S. Federal Statistical System, total construction spending in the United States was approximately $1.50 trillion in 2020, and it grew to $1.70 trillion in 2022, reflecting a 16% rise. Therefore, increasing construction spending is driving the growth of the entertainment buildings market.
Increasing sports activities is expected to drive the entertainment buildings market going forward.Sports activities refer to activities involving physical execution and skills for competition or social activity.
Sports activities are played due to benefits such as enjoyment, award, health benefits and others.Increasing sports activities will generate demand for entertainment buildings as they help facilitate sports activities for players as well as for a large audience.
For instance, according to a blog article by Gitnux, a software- and digital service review platform, in 2020, close to 45.4% of Europeans took part in sports at least once a week and around 65% of children aged 6-12 in the USA participated in team sports. In addition, in 2020, around 62.8% of adults in the UK participated in physical exercise or sports at least once a week. Thus, the rising sports activities will drive the entertainment buildings market going ahead.
In April 2022, LeChase Construction Services LLC, a US-based contracting and construction management services company, acquired Sano-Rubin Construction Services for an undisclosed sum.This acquisition would enable LeChase to quicken the execution of its long-term expansion strategy in the region.
Sano Rubin’s addition will enable LeChase to pursue a wider range of projects in its core markets, which include healthcare, education, industrial, multi-family housing, entertainment, and hospitality. Sano-Rubin Construction Services is a US-based entertainment building construction services company.
The countries covered in the entertainment 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 buildings market research report is one of a series of new reports that provides entertainment buildings market statistics, including entertainment buildings industry global market size, regional shares, competitors with an entertainment buildings market share, detailed entertainment buildings market segments, market trends and opportunities, and any further data you may need to thrive in the entertainment buildings industry. This entertainment buildings 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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