Commercial Real Estate Market Set for Steady Growth to USD 613.65 Billion by 2032, Driven by Urbanization and Evolving Workplace Trends | Research by SNS Insider

Commercial Real Estate Market Set for Steady Growth to USD 613.65 Billion by 2032, Driven by Urbanization and Evolving Workplace Trends | Research by SNS Insider

Austin, Nov. 21, 2025 (GLOBE NEWSWIRE) — The Commercial Real Estate Market Size was valued at USD 427.30 billion in 2024 and is expected to reach USD 613.65 billion by 2032 and grow at a CAGR of 4.63% over 2025-2032. 

Office space, retail space, industrial space, multifamily space, and hospitality space are all examples of commercial real estate. Urbanization and technology-based revolution, and changes in work patterns, even increase the market growth globally.


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The U.S. commercial real estate market size was USD 62.95 billion in 2024 and is expected to reach USD 95.86 billion by 2032, growing at a CAGR of 5.38% during 2024-2032.

The U.S. commercial real estate market is fueled by a robust economy, good job creation, and secular demand growth for industrial and logistical spaces driven by e-commerce. Infrastructure investments and urbanization also contribute to the demand for office and multifamily housing.

Segmentation Analysis:

By Type, Multi-Family Segment Led the Market in 2024; Hospitality Segment is the Fastest-Growing Segment during 2025-2032

In 2024, multi-family is the largest revenue share at 31%, driven by increased demand for rental residential properties due to urbanization and challenges in housing affordability. The hospitality segment will be the highest growth market with a CAGR of 9.16% during the forecast period due to the increasing incorporation of technology-enabled guest experiences by major players in the market.

Regional Insights:

With an expected 39% of the commercial real estate market in 2024, the Asia Pacific region retained the highest proportion. Commercial real estate is booming in Asia Pacific due to factors including expanding middle class, fast urbanization, and infrastructure advancements. China is leading the Asia Pacific commercial real estate market thanks to significant international investment, government-supported infrastructure, and extensive domestic urbanization.

North America has represented the highest growth, with an estimated CAGR of over 6.8% in the Commercial Real Estate Market during the forecast period. Growth in North America’s commercial property sector is being fueled by e-commerce expansion, technology-oriented real estate solutions, and high-rate capital flows. Underpinned by its size and diversity as an economy, proptech innovation, and high levels of investor confidence, the U.S. is the driving force behind the North American commercial real estate market.

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Key Players:

  • Atlas Technical Consultants
  • Boston Commercial Properties Inc.
  • Brookfield Business Partners LP
  • CBRE Group Inc.
  • Dalian Wanda Group
  • DLF Ltd.
  • Keller Williams Realty Inc.
  • Lee and Associates Licensing and Administration Co. LP
  • Link Asset Management Ltd.
  • Marcus and Millichap Real Estate Investment Services Inc.

Commercial Real Estate Market Report Scope:

Report Attributes Details
Market Size in 2024 USD 427.30 Billion 
Market Size by 2032 USD 613.65 Billion 
CAGR CAGR of 4.63% From 2025 to 2032
Base Year 2024
Forecast Period 2025-2032
Historical Data 2021-2023
Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Offices, Retail, Industrial/Logistics, Multi-family, and Hospitality)
Customization Scope Available upon request
Pricing Available upon request

Recent Developments:

  • In October 2024, Brookfield Business Partners LP acquired Tritax EuroBox, a UK-based logistics real estate company, for USD1.44 billion. This acquisition underscores Brookfield’s strategic focus on expanding its logistics and industrial real estate portfolio in Europe.
  • In August 2023, Atlas Technical Consultants expanded its service capabilities by acquiring SCST Engineering, which specializes in geotechnical engineering and construction materials testing. This acquisition enhances Atlas’s commercial real estate market presence, particularly in infrastructure and construction services.
  • In November 2023, Boston Commercial Properties Inc. successfully sold a 48,848-square-foot commercial building in the Boston area for USD6.4 million. This transaction reflects the company’s active involvement in the commercial real estate market, focusing on property sales and investments.

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Exclusive Sections of the Report (The USPs):

  • Tenant Retention Performance Metrics – helps you understand long-term occupancy stability by analyzing tenant renewal ratios, lease rollover risks, and sector-wise retention trends across office, retail, and industrial spaces.
  • Walk Score & Transit Accessibility Index – helps you evaluate property attractiveness based on mobility, pedestrian connectivity, and public transport proximity, enabling precise location-based value assessment.
  • Time-On-Market (ToM) Liquidity Indicators – helps you identify how fast commercial assets are leased or sold, revealing micro-market demand strength, pricing alignment, and competitiveness of property listings.
  • Incentive & Concession Package Analysis – helps you track evolving landlord strategies including rent-free periods, TI (Tenant Improvement) allowances, and flexible lease terms that influence tenant acquisition and occupancy rates.
  • Capital Expenditure (CapEx) Trends & Allocation – helps you understand investment priorities in retrofitting, sustainability upgrades, smart building technologies, and structural improvements that impact long-term asset value.

 About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.


            
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