Global Civil and Heavy Engineering Construction Market Report 2022

Major companies in the market include China Railway Group Ltd. ; China Railway Construction Corporation Limited; China Communications Construction Co. Ltd. ; China State Construction Engineering Corporation Ltd.

New York, December 29, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Heavy And Civil Engineering Construction Global Market Report 2022” –
; Power Construction Corporation of China.

The global heavy construction and civil engineering market is expected to grow from $ 1,742.92 billion in 2021 to $ 1,921.67 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 2,733.35 billion in 2026 at a CAGR of 9.2%.

The heavy construction and civil engineering market comprises the sales of heavy construction and civil engineering services and related goods by entities (organizations, sole proprietorships and partnerships) that undertake heavy construction and civil engineering projects (e.g. example, highways and dams), and by specialized trade entrepreneurs, whose main activity is the production of a specific component for such projects. The work performed may include new work, additions, modifications or maintenance and repairs. Sales revenues from construction projects involving water resources (e.g. dredging and land drainage) and projects involving the improvement of open spaces (e.g. parks and trails) are included in this Marlet. Establishments primarily engaged in subdividing land into individual building lots typically perform various additional site improvement activities (for example, building roads and installing utility lines) and their sales income. are included in this market.

The main types of heavy and civil construction are the construction of utility systems, the construction of highways, streets and bridges, and other heavy and civil engineering construction. The construction of distribution lines, as well as buildings and related infrastructure for utilities (i.e. water, sewerage, oil, gas, electricity and communication) is called construction of utility systems. It includes all structures (including buildings) that are an integral part of utility systems (eg, storage tanks, pumping stations, power plants and refineries). Enterprises involved in heavy and civil construction are divided into large enterprises and small and medium enterprises. These services are used by the private and public sectors.

Asia-Pacific was the largest region in the heavy construction and civil engineering market in 2021. North America was the second largest in the heavy construction and civil engineering market.

The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.

Technological development will boost the growth of heavy construction and civil engineering during the forecast period.

Areas of rapid technological change include smart highways, concrete 3D printing, drone surveying, kinetic roads, “little houses” and solar roads. Due to technological advancements, the demand for better infrastructure will increase and have a positive impact on the demand for heavy construction and civil engineering.

Offshore productivity or the productivity of maritime contractors has increased in recent years thanks to better automation and monitoring technologies. This increase in productivity is particularly visible in dredging, land reclamation and offshore construction of oil rigs, and can be attributed to improvements in mechanical technology. , automation and better monitoring of offshore construction projects.

For example, in August 2020, MJR Power and Automation, a UK-based vessel mobilization and marine engineering expert, completed a mobilization project for Enshore Subsea, a division of DeepOcean Group which is responsible for all activities. underwater intervention in the world. The work was carried out on the recently overhauled Assist vessel, which is commercially managed by JD Contractor and serves both the renewable energy and oil and gas industries.

The specialized vessel, which houses state-of-the-art equipment, has been specially developed to perform a number of activities such as the handling of deep-water anchors and offshore cable installations, towing of snow plow systems under -marines and the provision of submarine and ROV support work. The main marine contractors include Jenkins Marine, Teignmouth Maritime Services and Edwards Diving Services.

The costs of heavy construction and civil engineering are steadily increasing due to the rising cost of materials. Companies in the sector have seen moderate profit growth as the price of materials such as crude oil, a key component of asphalt, increased 58% in 2021 compared to 2020.

According to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics, in the United States, prices paid for items used in residential construction jumped 1.7% in April 2021 and rose by 12.4% in the last 12 months. Softwood lumber prices jumped 6.5% in April 2021, marking a new high for the third month in a row, according to the National Association of Home Builders (NAHB). Since November 2020, lumber prices have increased 52.0%. High material prices will negatively affect the heavy construction and civil engineering market during the forecast period.

Countries Covered in Heavy Construction and Civil Engineering Market Report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Republic Czech, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States , Venezuela and Vietnam.

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