Dublin, November 19, 2021 (GLOBE NEWSWIRE) – The “Global Civil Engineering Market Size, Share and Trend Analysis Report 2021-2028” the report was added to ResearchAndMarkets.com offer.
The global civil engineering market size is expected to reach $ 12.05 trillion by 2028, registering a CAGR of 5.7% during the forecast period.
The rapidly growing residential construction industry due to the increase in population in the world is expected to drive the growth of this market during the forecast period.
Various government initiatives for infrastructure development, especially in Asia-Pacific, Europe and Africa regions are expected to drive the market growth. In addition, increasing levels of disposable income of consumers in emerging Asia-Pacific economies, such as India and China, is expected to boost the real estate segment, thereby benefiting the overall growth of the market.
Strict regulations in the Europe and North America regions, regarding VOC emissions during the construction process, are expected to drive the demand for pre-fabricated / precast construction products. The introduction of new materials, such as building additives and green building materials, is expected to create lucrative opportunities for market players during the forecast period.
The strong presence of leading civil engineering companies in the market, increasing demand for infrastructure development, the need for transportation facilities and other government interests in engineering investment are some- one of the key factors that are expected to propel the market growth during the forecast period.
Highlights of the Civil Engineering Market Report
Construction services are expected to grow at a CAGR of 5.5% from 2021 to 2028, which can be attributed to recent advancements in the construction sector which 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 the global revenue share due to the high demand for residential properties due to rapid urbanization and increasing power to operate. consumer purchase.
The government segment accounted for the largest revenue share of the global market in 2020 and is expected to retain its dominant position from 2021 to 2028 due to the increasing attention to infrastructure development across the globe.
The Middle East is expected to experience the fastest CAGR during the forecast period owing to the growth of the residential construction sector and the increase in 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
Amec Foster Wheeler plc
United States Army Corps of Engineers
Jacobs Engineering Group, Inc.
Galfar Engineering & Contracting SAOG (Galfar)
Tetra Tech, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/tcfaqp
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