Civil Engineering Market Analysis on Market Share, Ongoing Trends, Top Players, Regional Players and forecast
Category: #business  By Rahul Varpe  Date: 2022-11-22
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Civil Engineering Market Analysis on Market Share, Ongoing Trends, Top Players, Regional Players and forecast

Rapid expansion of the transport infrastructure and surge in residential construction supported by public and private investments driving the civil engineering market. Increasing necessity for efficient management & movement of population across large metropolitan cities will support the industry development. In addition, redesigning of the existing transportation systems such as efficient pedestrian systems for the appropriate accommodation of more traffic will further provide strong business outlook.

Increasing smart cities projects to uplift the society and economy of a particular nation. The incorporation of new & innovative technologies for building construction in line with Smart City 1.0 continues to accelerate civil engineering market growth across the globe. Further, continuous heavy investments by the leading industry players in several smart city projects in the developing economies such as UAE, Saudi Arabia, and India will enhance the industry landscape.

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Stringent regulations & policies pertaining to significant reduction in atmospheric GHG emission levels will provide a positive scope for the civil engineering market growth. Additionally, shifting manufacturers focus towards green building construction techniques supporting industry development. Surging consumer preferences toward environment-friendly materials will foster multiple opportunities for industry players over the projected timeframe.

Government purchases customer segment accounted for over 50% share of the overall civil engineering market in 2018. Increasing number of approvals for several frameworks & policies by various government bodies across the globe will augment the segment growth. Additionally, easy affordability of residential spaces to the lower middle-class population coupled with large-scale investments for the improvement of numerous public infrastructures will propel the segment growth.

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Residential buildings application will witness significant gains over the projected time frame. Increasing population and rapid urbanization in the developing economies such as South Africa, Saudi Arabia, and India will propel the industry size. Rising consumer disposable income along with the provision of low interest rates by banks on housing loans will support the industry expansion over the projected timeframe.

Asia Pacific is anticipated to surpass USD 5.5 trillion in the overall civil engineering market by 2025. Major government spending & initiatives on several mega projects in the key metropolitan cities across the region will provide positive scope for the business expansion. Increasing demand for domestic construction activities along with rising disposable income, constant policy support, and lower labor costs will provide a strong outlook for the civil engineering market across the region.

Civil engineering market is competitive in nature owing to the presence of several global and regional players. Major companies present in the industry include AECOM, Jacobs, Vinci Construction, Hochtief Ag, Boyugues Construction, Acs Actividades De Contruccion Y Servicios, S.A., Bechtel Corporation, and Hyundai Engineering and Construction Co. Ltd. Other prominent players include Power Construction Corporation of China Ltd., Construtora Noberto Odebrecht S. A., Strabag SE, Kiewit Corporation, Balfour Beatty PLC, and Skanska.

Joint ventures & strategic collaborations are the among the key strategies are adopted by the major industry participants. The leading companies are making significant investments in certain technological & innovative advancements for strengthening their foothold in the overall civil engineering market across the globe. For instance, in March 2019, ARC Nuclear Canada, Inc. entered in an agreement with the AECOM to provide the construction services & architecture for supporting the deployment of ARC Nuclear’s ARC-100 SMR.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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