SAN FRANCISCO, March 18, 2021 / PRNewswire / – The World civil engineering market Cut should reach 12.05 trillion USD by 2028 recording a 5.7% CAGR during the forecast period, according to a new report from Grand View Research, Inc. The rapidly growing residential construction industry due to the increase in population in the world is expected to drive the growth of this market over the course of the forecast period. the forecast period.
Main suggestions from the 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.
- 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 Dec 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
Read the 145-page research report with ToC on “Civil Engineering Market Size, Share & Trend Analysis Report by Services (Planning and Design, Construction), by Application (Real Estate, Infrastructure), by Customers (Government) , private), by region, and segment forecast, 2021 – 2028 “to: https://www.grandviewresearch.com/industry-analysis/civil-engineering-market
Various government initiatives for infrastructure development, especially in the Asia Pacific, Europe, and Africa regions, are expected to drive market growth. In addition, increasing levels of disposable income of consumers in emerging economies of Asia Pacific, such as India and China, are expected to stimulate the real estate segment, thereby benefiting the overall growth of the market.
Strict regulations in the Europe and North America regions, with regard to VOC emissions during the construction process, are expected to drive 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.
Grand View Research has segmented the global civil engineering market on the basis of services, applications, customers, and regions:
- Civil Engineering Services Outlook (Revenue, USD Billion, 2017 – 2028)
- Planning and design
- Civil Engineering Applications Outlook (Revenue, USD Billion, 2017 – 2028)
- Civil Engineering Customer Outlook (Revenue, USD Billion, 2017 – 2028)
- Regional Civil Engineering Outlook (Revenue, USD Billion, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of key players in the civil engineering market
- Amec Foster Wheeler plc
- United States Army Corps of Engineers
- SNC Lavalin
- Fluor Corp.
- HDR, Inc.
- Tetra Tech, Inc.
- Stantec, Inc.
Find more research reports on Advanced interior materials industry, by Grand View Research:
- Precast concrete market – The size of the global precast concrete market has been estimated at $ 92.14 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
- European civil engineering market – The Europe the size of the civil engineering market has been assessed at $ 2,004.2 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 2.7% from 2019 to 2025.
- Construction Additives Market – The global construction additives market size has been estimated to be $ 17.96 billion in 2016. Building additives are gaining in importance due to the revival of the construction industry after the economic crisis of 2008.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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