Artificial Intelligence
Restaurant Buildings Global Market Report 2023
New York, June 06, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Restaurant Buildings Global Market Report 2023” – https://www.reportlinker.com/p06464106/?utm_source=GNW
, Shingobee Builders Inc., The Beam Team Inc., GCM Construction, Prodigy Construction, BnK Construction, Woodbine Construction, Power Construction Inc., and China Pacific Inc.
The global restaurant buildings market is expected to grow from $223.90 billion in 2022 to $240.50 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%.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, and affecting many every markets across the globe. The restaurant buildings market is expected to reach $300.55 billion in 2027 at a CAGR of 5.7%.
The restaurant building market includes revenues earned by entities by constructing building for casual dining restaurants, fast casual restaurants, contemporary casual restaurants, and pop-up restaurants.The market includes new construction, modifications, and repair of buildings.
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.
A restaurant building is a commercial property that prepares and serves food and beverages to customers. In general, restaurant building involves the preparation, serving and consumption of food within the confines of a building.
Asia-Pacific was the largest region in the restaurant buildings market in 2022. The regions covered in the restaurant buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of restaurant buildings are limited-service restaurants, cafeterias, buffets, full-service restaurants, and ghost restaurants.Limited-service Restaurants refer to a place where interaction between patrons and staff is minimal and ends when the patron gets their food.
The equipment used are earthmoving equipment, material handling equipment, heavy construction vehicles, and others for building constructions including new construction, reconstruction and renovation.
Increasing demand for restaurants is expected to propel the growth of the restaurant buildings market going forward.The restaurant building market is steadily expanding due to increased demand for family food parties, convenience foods, ready meals, and cold cuts.
The hectic lives of millennials and the global expansion of working populations influenced food consumption in restaurants.This is likely to aid the restaurant building sector’s global expansion.
For instance, according to the report published by the Office for National Statistics, a UK-based executive office of the statistics authority, in the UK, the total number of restaurants available in 2022 was 101,785 compared to 95,060 in 2021. Therefore, increasing demand for restaurants is driving the growth of the restaurant buildings market.
New product innovations are the key trend gaining popularity in the restaurant buildings market.Major companies operating in the restaurant buildings market are focused on developing innovative and latest technologies in the building construction to strengthen their position in the market.
For instance, in October 2022, Luyten 3D, an Australia-based commercial building and construction company that offers 3D printing technology in building construction, introduced the Platypus X12 concrete printer, an AI-powered mobile concrete 3D printer designed for use in the commercial building and construction industry.It is one of the world’s largest printers and can be transformed into a 12 x 6 mobile crane in 20 minutes, allowing it to print large-scale structures.
It incorporates optical and acoustic-based artificial intelligence for data-driven concrete printing.
In July 2021, HGC Construction, a US-based construction company, acquired Luken Construction for an undisclosed amount.The acquisition of Luken Construction offers immediate values to HGC’s clients by increasing its self-perform capabilities.
Luken Construction is a US-based construction company involving in commercial buildings construction and restaurant buildings architectural works.
The countries covered in the restaurant 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 restaurant buildings market research report is one of a series of new reports that provides restaurant buildings market statistics, including restaurant buildings industry global market size, regional shares, competitors with a restaurant buildings market share, detailed restaurant buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the restaurant buildings industry. This restaurant 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.
Read the full report: https://www.reportlinker.com/p06464106/?utm_source=GNW
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