Global Market Insights has launched a report on Civil Engineering Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
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Civil Engineering Market in Asia Pacific is anticipated to surpass USD 5.5 trillion in the overall 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. Additionally, shifting manufacturers focus towards green building construction techniques supporting industry development. Surging consumer preferences toward environment-friendly materials will foster multiple opportunities for civil engineering market players over the projected timeframe.
Civil Engineering Market by Application:
- Residential Buildings
- Industrial Infrastructure
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.
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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.
Rapid expansion of the transport infrastructure and surge in residential construction supported by public and private investments driving the civil engineering market. 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 market growth across the globe.
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 civil engineering market expansion over the projected timeframe.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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