Global Civil Engineering Market Size, Share & Trends Analysis Report 2021: Construction Services to Grow at a CAGR of 5.5% from 2021 to 2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Civil Engineering Market Size, Share, and Trend Analysis Report by Services (Planning & Design, Construction), by Application (Real Estate, Infrastructure), by Clients (Government, Private) , by Region and Segment Forecast, 2021-2028″ report has been added to from ResearchAndMarkets.com offer.

The global civil engineering market size is expected to reach USD 12.05 trillion by 2028, registering a CAGR of 5.7% over the forecast period.

The rapidly growing residential construction industry due to growing population across the globe is expected to drive the growth of this market over the forecast period.

Various government initiatives for infrastructure development, especially in the Asia-Pacific, Europe and Africa regions, are expected to boost the market growth. Additionally, rising consumer disposable income levels in emerging Asia-Pacific economies such as India and China are expected to boost the real estate segment, thereby benefiting the overall market growth.

Strict regulations in Europe and North America, regarding VOC emissions during the construction process, are expected to drive the demand for pre-engineered/pre-engineered building products. The introduction of new materials, such as construction additives and eco-friendly building materials, is expected to create lucrative opportunities for market players over the forecast period.

Strong presence of leading civil engineering companies in the market, increasing demand for infrastructure development, need for transportation facilities and other government interests in engineering investment are some key factors that are expected to propel the market growth over the forecast period.

Highlights of the Civil Engineering Market Report

  • Construction services is expected to grow at a CAGR of 5.5% from 2021 to 2028, which can be attributed to recent advancements in the construction industry that are expected to revolutionize the industry and drive the growth of the segment.

  • Real estate has emerged as the dominant application segment in 2020, accounting for over 41% of global revenue share due to high demand for residential properties due to rapid urbanization and rising power of consumer purchase.

  • The government segment accounted for the largest share of global market revenue in 2020 and is expected to maintain its dominant position from 2021 to 2028 owing to the growing focus on infrastructure development across the globe.

  • The Middle East is expected to witness the fastest CAGR over the forecast period due to growing residential construction sector and rising consumer disposable income

  • Major industry players focus on product portfolio and geographic expansions through mergers and acquisitions

  • For example, Stantec acquired Wenck in December 2020. The acquisition is expected to expand the company’s presence in the United States.

  • Midwest, providing growth opportunities in the energy, infrastructure, mining, manufacturing and transportation sectors

Companies cited

  • AECOM

  • Amec Foster Wheeler plc

  • United States Army Corps of Engineers

  • SNC Lavalin

  • Jacobs Engineering Group, Inc.

  • Galfar Engineering & Contracting SAOG (Galfar)

  • Fluor Corporation

  • HDR, Inc.

  • Tetra Tech, Inc.

  • Stantec, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/rr2wui

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