The ‘Global Civil Engineering Market Price, Size, Share, Trends, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global civil engineering market, assessing the market on the basis of its segments like services, applications, customers, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Civil Engineering Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.2%
Civil engineering provides efficient and reliable assistance in building large structures, ensures environmental safety, facilitates coordination with transportation to manage traffic, and enables the understanding of customer needs with comprehensiveness. Hence, civil engineering has been a crucial part of the construction industry.
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The robust urbanisation across developing countries is leading to a spearheaded development of superior-quality infrastructure. The increasing population and increasing standards of living are escalating the demand for residential structures and complexes. In addition, the increased footfall in commercial areas, such as malls, theatres, shopping complexes, museums, etc., is further bolstering the civil engineering market growth.
Increasing government initiatives aimed at renovating existing and developing new structures are escalating the demand for civil engineering services. Pipelines, dams, canals, roads, highways, and sewage systems, among others, are being developed at a high pace. In addition, the increasing number of tourists and domestic travelers is leading to the modernisation of airports and railways, which is in turn adding to the civil engineering market growth.
Over the forecast period, the rapid industrialisation across the developing nations is likely to propel the demand for civil engineers to improve the quality of manufacturing units and power plants, which in turn is expected to bolster the market dynamics.
Civil Engineering Industry Definition and Major Segments
Civil engineering is defined as the process of designing, establishing, and maintaining a structure within a natural environment. Civil engineering plays a crucial role in the development of infrastructure. It aims at developing from the most basic to the most complex structures which are used by the general public.
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Based on services, the market can be segmented into:
• Planning and Design
On the basis of application, the market has been classified into:
• Real Estate
By customers, the market has been divided into:
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Civil Engineering Market Trends
The key trends in the global civil engineering market include the growing influence of advanced and upgraded construction technologies on civil engineering. Penetration of technologies such as BMI, 3D printing, artificial intelligence, cloud computing, and machine learning, among others, are improving the efficiency of the market, thereby, leading to great business profitability. In addition, rapid improvements and growing sophistication of construction equipment and the introduction of brand new components, such as drones, are enhancing safety, facilitating remote working, and reducing labor costs, which are further augmenting the civil engineering market growth.
The rapid development of smart homes is another crucial market-driving trend that is further expanding the market opportunities, owing to the fact that civil engineering is important for planning and executing structures equipped with smart technology. Over the forecast period, the rising standards of living across rural and semi-urban areas are expected to provide lucrative opportunities to the market as these areas possess huge scope for the construction of modern-era structures.
In regional terms, Asia Pacific accounts for a decent share in the market because of the large consumer base which is leading to an expansion of the real estate business.
Key Market Players
The major players in the civil engineering market report include:
- Stantec, Inc.
- SNC-Lavalin Group
- Fluor Corporation
- HDR, Inc.
- Tetra Tech, Inc
- Amec Foster Wheeler plc
The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers, and acquisitions, among other latest developments of these market players.
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