Building Inspection Services Market
Building Inspection Services Market Analysis, By Service (Residential - (Pre-Listing, Builder’s Warranty, New Construction & Pre-Closing Inspection), Commercial - (Commercial Draw Inspection, Retail or Office Space, Special Purpose Facilities) & Specialty Inspection) - Regional Forecast To 2032
Analysis of Building Inspection Services market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Building Inspection Services Market Outlook (2022-2032)
The global building inspection services market is currently valued at US$ 9.4 billion. During the forecast period of 2022-2032, demand for building inspection services is expected to increase briskly at a CAGR of 6.9% and reach a market size of US$ 18.2 billion by the end of 2032.
North America currently accounts for over 40% of the revenue generation of the global market.
Building Inspection Services Market Size (2021A)
US$ 8.7 Billion
Estimated Market Value (2022E)
US$ 9.4 Billion
Forecasted Market Value (2032F)
US$ 18.2 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2021)
East Asia Market Growth Rate (2022-2032)
United States Market Growth Rate (2022-2032)
Market Share of Top 10 Companies
~Higher Single Digit
Key Companies Profiled
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Burgeoning Awareness about Safe Residence Structures Accrediting Building Inspection Services
Building inspections give owners, prospective buyers, insurance providers, and other parties access to information on the condition of the building's structure. These inspections involve visual and thermal assessments of the building's exterior surfaces, and they are often conducted to assess the structure's condition and find any flaws such as heat or water leaks and potential corrosion.
Inspection is an effective way to analyze the building’s in-use performance, façade detection at a premature stage & post development of a company to ensure people's safety.
Traditionally, building inspection services were initiated with wall climbing, rope access, and a swing stage, which are all risky and time-consuming. The technological shift in building inspection services has created an immense growth opportunity for the market.
- Short Term (2022-2025): Increase in urbanization and growing population are leading factors attributing to the development of infrastructure worldwide. This is expected to drive the demand for building inspection services to ensure people's safety.
- Medium Term (2025-2028): Government initiative towards infrastructure development is a major factor contributing to market growth. Increasing older infrastructure worldwide and building collapse incidents are projected to create awareness regarding the usefulness of building inspection services.
- Long Term (2028-2032): Technological advancements such as the utility of drones for building inspection are expected to create lucrative growth opportunities for the market in the long run.
From 2017 to 2021, the global market for building inspection services expanded at a CAGR of 3.8%, as per the detailed study by Fact.MR, a market research and competitive intelligence provider. Revenue from the market is projected to increase at 6.9% CAGR between 2022 and 2032.
Market share analysis of building inspection services based on service and region. Under the service segment, residential inspection dominates with 50% market share in 2022.
Substantial Rise in Infrastructure Development
Rapid urbanization is leading to the substantial growth of infrastructure development worldwide. The development of commercial & residential buildings has observed significant growth, with individuals moving to urban areas for employment and a better lifestyle. This, in turn, drives the demand for building inspection services. Governments have framed laws & legislation to determine the safety of buildings, prevent hazards, and ensure people stay in safe buildings.
- According to World Bank Group Study on urban development, 2020, there will be 1.2 million km2 of new urban built-up area added to the world in the next three decades as urban land consumption is predicted to increase at a rate that is up to 50% faster than population growth.
- As per the United Nations Department of Economic and Social Affairs, urbanization has led to the tremendous development of houses, buildings, and infrastructure. Around 4.4 billion people were staying in urban areas in 2020 and this is projected to grow to 6.7 billion by 2050.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Technology Integration with Building Inspection Services
Companies and government organizations are making use of drones for building inspections. Working in conjunction with GPS and onboard sensors, a drone is a software-controlled unmanned aircraft system (UASs) that can be controlled remotely or independently to conduct a building survey. It is a modern tool to inspect a building in a safer, faster, and cost-effective way as compared to traditional risky methods.
Drones also enhance visual reviews of building façades with prominent efficiency. Building inspection with drones is observed to reduce overall inspection time by 70%.
- In October 2020, Singapore-based analytics and acoustic solution company, H3 Zoom introduced drones for urban building inspection. The introduction of drones for building inspection will eliminate the risk and human errors associated with traditional inspection methods like gondola lifts and others.
- In December 2021, The New York City Department of Buildings passed a bill to authorize drones for building inspection under the city’s Façade Inspection & Safety Program (FISP).
Non-feasibility of Building Inspection with Tradition Approach
A majority of companies in the market are still using traditional ways of building inspection, which is challenging market growth. Engineers and architects are expected to pay for access equipment such as climbing gear, insurance, and additional labor when using ropes or swing stages in traditional inspection approaches. The cost of the inspection is ultimately increased with these approaches.
Risks rise as a building gets taller, including the risk of falling. The ladder might not be adequate for much taller and larger buildings, and the inspector will need to invest in more pricey access and safety equipment. As a result, more complex building structures lead to risks and additional expenses to perform the inspection.
Other concerns include collapsing structures, electrocution by overhanging power lines, and others, besides falling when attempting to climb the roof. Due to these increasing dangers, the prices of tools, personnel, and insurance plans for people rises. Despite all of this, inspectors are still unable to obtain in-depth information about some of the surfaces. This can be a result of the climbing equipment's limits in terms of proximity to surfaces or buildings, confined spaces, or lack of access to certain places.
The utility of drones may be difficult for intermediates, and a lack of knowledge to operate modern tools for inspectors and professionals can impede market growth.
Lack of Skilled Professionals to Carry Out Inspection
The shortage of skilled professionals is one of the major factors restraining the market for building inspection services. As building inspection comprises many activities such as pre-close inspection and sewer & septic system inspection, finding labor specialized in particular areas is difficult.
- In April 2022, the Community Development Department of Florida faced a shortage of building inspectors to conduct building inspections in St. Pete Beach city, which led to the hiring of two outside firms to provide inspection and plan review services.
Also, an increase in the retirement rate of building inspectors and the exit of professionals from the building inspection service profession are other factors challenging market growth.
- As per a report released by the International Code Counsel and National Institute of Building Sciences, the United States, around 85% of inspectors are 45 or above and are likely to retire in the next 10 years, whereas, more than one-fourth of professionals are expected to exit the profession in the next few years.
Why is Demand for Building Inspection Services High in the United States?
The United States building inspection services market is projected to expand at a CAGR of 6.9% over the forecast period 2022-2032.
An increase in infrastructure development in the United States is driving market growth. With the increase in infrastructure development, building inspection services are expected to gain popularity to ensure that the buildings are safe to occupy for people.
- The United States spends around 2.3% of its GDP on infrastructure development every year.
The presence of strict government norms for the timely conduct of building inspections in the country is expected to stimulate market growth over the coming years.
- Division of codes and standards was established in New Jersey, United States, in partnership with the State's municipalities, to ensure the health and safety of New Jersey residents with the inspection of buildings.
Which Factors are Contributing to India’s Building Inspection Services Growth?
Indian towns and cities have expanded significantly with a surging number of people migrating in search of economic opportunities. Also, the urbanization of India increased by 4%, with more people moving to the service sector by leaving the agriculture sector. This has led to a rise in the development of residential as well as commercial buildings, thereby driving the demand for building inspection services.
An increase in the incidence of old structure collapses in the country is escalating the demand for building inspection services.
- As per National Crime Record Bureau, on average, 2,700 people lose their lives in different structural breakdowns every year.
Owing to this factor, demand for the timely inspection of old structures and buildings is surging.
Why is Residential Inspection in High Demand?
A home inspection examines and documents the condition of real estate, usually when it is up for sale. A certified home inspector evaluates the property's condition, including its plumbing, electrical work, water and sewage systems, and heating and cooling systems, as well as fire and safety hazards. Additionally, the house inspector will search for any indication of bugs, water, fire, or other damage that can have an impact on the property's value.
- As per Statistics published by the United Nations, the global population is projected to be 7.7 billion in 2021 and expected to rise by 25% by 2050.
The surging population worldwide coupled with an increase in urbanization is expected to drive the need for residential inspection services globally.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Prominent building Inspection service providers are A Buyer's Choice Home Inspections, Allied Building Inspection Services, Amerispec Inspection Services, BPG, BrickKicker, Building Inspection Service, Inc., Elite Group Inspections, HM Services, LLC, Hometeam Inspection Service, Landmark Inspections, National Property Inspections, Inc., Next Day Inspect, Pillar To Post, US Inspect Group, Inc., Water Intelligence, World Inspection Network International LLC, and The Real Estate Inspection Company.
The global building inspection services market is highly fragmented with the presence of various service providers in the market. Intense competition among market players is resulting in them resorting to different strategies such as mergers & acquisitions to stay competitive in the market.
For instance :
- In December 2020, a Spain based-testing & inspection company Applus+ acquired SAFCO Group, a Saudi Arabia-based building inspection service provider. The acquisition is focused on increasing its service portfolio in the Middle Eastern region.
- In April 2019, Cingo, a Dublin-based home inspection company, merged with The Cornerstone Inspection Group to offer protective services required by homeowners.
Fact.MR has provided detailed information about the providers of building inspection services positioned across regions, revenue growth, and service offering expansion, in the recently published report.
Segmentation of Building Inspection Services Industry Research
By Service :
- Residential Inspection
- Pre-Listing Inspection
- Builder’s Warranty Inspection
- New Construction Inspection
- Pre-Closing Inspection
- Commercial Inspection
- Commercial Draw Inspections
- Retail or Office Space Inspection
- Special Purpose Facilities (Gym, Theatres, Hospitals) Inspection
- Others (not covered elsewhere)
- Specialty Inspection
- Sewer and Septic System Inspection
- Roof Inspection
- Lawn Irrigation Inspection
- Property Preservation Inspection
- Yearly maintenance Inspection
- Others (not covered elsewhere)
- Residential Inspection
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global building inspection services market currently stands at US$ 9.4 billion.
Global demand for building inspection services is set to reach US$ 18.2 billion by 2032.
From 2017 to 2021, revenue from building inspection services increased at a 3.8% CAGR.
North America leads the global market with 41% market share.
Residential inspection accounts for 50% share of global revenue generation.