Increasing Investment in Infrastructure Development by The Government in Developing Economies Is Expected to Propel the Growth of The Global Civil Engineering Market at A CAGR of 5.3% During The Forecast Period, 2019-2026

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The Global Civil Engineering Market accounted for a value of $9.15 Trillion is projected to grow with a CAGR of 5.3% from 2019 to 2026.

In North America, the rising number of construction projects and the surging uptake of advanced technology are some factors expected to boost the growth of civil engineering services. Asia Pacific is expected to be the major region in the global civil engineering market. The factors such as the availability of low-cost skilled labor and rising urbanization are posing as cost-effective growth opportunities for the market.

Increasing Investment in Infrastructure Development by The Government in Developing Economies Is Expected to Propel the Growth of The Global Civil Engineering Market at A CAGR of 5.3% During The Forecast Period, 2019-2026

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OVERVIEW

Factors such as surging real estate sector owing to the construction of single-family housing and apartments in developing countries and growing urbanization is catalyzing the market growth. For instance, according to the data published by the Indian Brand Equity Foundation, the real estate market in India is expected to grow from $1.72 billion in 2019 to $9.30 billion in 2040. Further, increasing disposable income and technological advancements in construction equipment and materials is expected to boost market growth. Furthermore, market players are changing their focus from traditional construction materials to green building materials owing to the evolving concept of sustainable building constructions. The aforementioned factor is expected to propel the market growth during the assessment period.

The global civil engineering market has been segmented into service, application, and customer group. The service segment has been segmented into planning & design, maintenance, construction, and others. The application segment has been categorized into real estate, infrastructure, and industrial. Further, the customer group segment has been bifurcated into government, private, and others.

Based on geography, the civil engineering market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe region has been categorized into the UK, France, Germany, Italy, and Rest of Europe. The Asia-Pacific region has been categorized into, South Korea, Japan, India, China, and Rest of Asia-Pacific. Moreover, the South America region has been divided into Brazil, Argentina, Mexico, and the Rest of South America. Furthermore, the Middle East & Africa is categorized into GCC Countries, Africa, and the Rest of the Middle East.

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In North America, the rising number of construction projects and the surging uptake of advanced technology are some factors expected to boost the growth of civil engineering services. Asia Pacific is expected to be the major region in the global civil engineering market. The factors such as the availability of low-cost skilled labor and rising urbanization are posing as cost-effective growth opportunities for the market. In addition, the growing focus of multinational companies for expanding their operations in developing countries such as India is anticipated to contribute to market growth. Furthermore, the rising government investment in infrastructure development in few countries such as India and Australia is supporting the market growth. For instance, the Australian Government aimed to invest $100 billion over 10 years from the year 2019-2020 in transport infrastructure throughout the country. Further, In Europe, the high adoption of advanced technologies in the construction sector is expected to support market growth.

Prominent players functioning in the civil engineering market include AECOM, United States Army Corps of Engineers, SNC-Lavalin, Jacobs Engineering Group, Inc., Amec Foster Wheeler plc, Bouygues Construction SA, Galfar Engineering & Contracting SAOG, HDR, Inc., Tetra Tech, Inc., Stantec, Inc., and Fluor Corporation. Prominent companies are engaged in strategic mergers, joint ventures, acquisitions, collaborations, and joint ventures to maintain their market position. Further, few prominent companies are involved in presenting high-end technologies which include equipment and materials for the construction of sustainable buildings.

Developments by Prominent Companies:

  • In December 2019, AECOM entered into a three-year partnership with Social Value Portal. The partnership aimed to measure, manage and report the impacts of the company’s social value activities in Ireland and the UK.
  • In May 2019, Tetra Tech, Inc. announced the acquisition of WYG plc. With this acquisition, the company expanded its operation in the UK.
  • In February 2019, AECOM Capital, an investment division of AECOM entered into a joint venture with Canyon Partners, LLC. The joint venture is aimed at building large-scale, institutional quality commercial real estate projects.
  • In March 2016, Stantec, Inc. acquired MWH Global, Inc., a consulting, engineering, and construction management company having expertise in water resource infrastructure.

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