SAN FRANCISCO, U.S., July 27, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Utility System Construction Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts, 2023-2030.” in its research database. According to the latest research study, the global utility system construction market size was valued at around USD 724.58 million in 2022. The market is expected to grow above a CAGR of 5.04% and is anticipated to reach over USD 1074.57 million by 2030.
Utility System Construction Market Overview:
Utility system construction refers to the sale of numerous services and products that aid in the development of distribution lines and associated infrastructure for the delivery of utilities, such as communication, power, gas, petroleum, sewage, water, etc. It serves to improve and construct a variety of other utility systems. Primarily, utility construction involves the installation of sewer lines, electrical lines, water lines, and other infrastructures. It is significant because it provides fundamental and indispensable services to a variety of end consumers, including businesses, industries, residential, etc.
Get a Free Sample PDF of this Research Report for more Insights - https://www.zionmarketresearch.com/sample/utility-system-construction-market-size
Key Insights from Primary Research
- As per the analysis, the utility system construction market share is likely to grow above a CAGR of around 5.04% between 2023 and 2030.
- The utility system construction market size was worth around USD 724.58 million in 2022 and is estimated to hit approximately USD 1074.57 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The high demand for electricity is likely to drive the growth of the global utility system construction market.
- Based on the end-user, the industrial segment is the largest segment of the global market. Based on the product type, the power and communication line segment dominate the global market.
- Based on type of contractors, the large contractor segment is likely to dominate the global market.
- Based on region, Asia Pacific is expected to dominate the market during the forecast period.
Utility System Construction Market: Growth Drivers
- High demand for electricity is likely to propel the growth of the global market
Globally, the high industrialization rate and rising population are driving a constant increase in the demand for electricity. During the forecast period, technological advances are anticipated to bolster the expansion of the global utility system construction market. Using drones to manage heavy projects, for instance, has increased demand for utility systems. The integration of communication technology with the drone increases the market demand for utility construction systems. Nevertheless, drones have numerous other applications, including environmental analysis, elevation mapping, earthwork volume calculation, and others.
Utility System Construction Market: Restraints
- Health and safety concerns are likely to hinder the expansion of the international market
Priority number one in the utility construction industry is the health and safety of the public. There are numerous life-threatening duties involved in construction, including working underground at heights, working near falling materials, working in confined spaces, and handling hazardous substances. Consequently, there is always a risk of loss of life and property, which is anticipated to retard the expansion of the global utility system construction industry.
Directly Purchase a Copy of The Report with TOC | Quick Delivery Available @ https://www.zionmarketresearch.com/buynow/su/utility-system-construction-market-size
Competitive Players
The report contains qualitative and quantitative research on the global Utility System Construction Market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global Utility System Construction market include;
- American Tower Corporation
- Systems Inc.
- Keene
- Powerteam Services
- Michels Corporation
- Mastec Inc.
- Charter Oak Utility Constructors Inc.
- Paraflex
- China Energy Engineering Group
- Qwest Communications International Inc
Utility System Construction Market: Segmentation
The global utility system construction market can be segmented into end-user, product type, type of contractors, and region.
By end-user, the market can be segmented into public infrastructure, business, industrial, services, residential, and others. The industrial segment is the largest segment of the global market due to its high flourishing rate.
By product type, the market can be segmented into power and communication lines, oil & gas pipelines, water sewer lines, infrastructure construction, and others. The power and communication line segment dominates the global utility system construction industry. The growth of the segment is majorly due to the growing demand for constant power supply and communication in each aspect.
By type of contractors, the market can be segmented into large and small contractors. The large contractor segment is likely to dominate the utility system construction industry in the forthcoming years due to the requirement for heavy delivery of utility systems. The need for power, communication, oil, gas, and other utilities can only be served through large contractors.
Regional Analysis:
- Asia Pacific to witness substantial growth during the coming period
Asia Pacific accounts for the largest share of the global utility system construction market due to growing domestic and foreign investments. The high investment rates in the region is due to the presence of a skilled workforce and an abundance of raw material. Additionally, the government in the region is making efforts to encourage small and large business owners to expand the market worldwide and strengthen their national economy.
North America is also expected to witness a significant growth rate in the forthcoming years due to the ongoing technological advancements in the region. Also, the fast adoption rate of modern technology in the region will further accentuate the growth of the market.
Europe and Latin America are further expected to grow parallelly because of the rising demand for telecom systems across the region.
Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/utility-system-construction-market-size
Recent Industry Developments:
- Powerteam International partners with the Mentors Studio to host the Ultimate Wealth Camp event to bring together business owners from around the world. The event is happening on June 25th - 27th, 2023, at the Powerteam Barrington Retreat Center in Hoffman Estates.
- American Tower Corporation, according to Ugandan mobile operator Smile, has apologized to its consumers for the outage happening since January 31, 2022. The company has caused a 15-month service outage by illegally disconnecting its network.
Key questions answered in this report:
- What is the market size and growth rate forecast for Utility System Construction industry?
- What are the main driving factors propelling the Utility System Construction Market forward?
- What are the leading companies in the Utility System Construction Industry?
- What segments does the Utility System Construction Market cover?
- How can I receive a free copy of the Utility System Construction Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 724.58 Million |
| Market Forecast in 2030 | USD 1074.57 Million |
| Growth Rate | CAGR of 5.04% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | American Tower Corporation, Systems Inc., Keene, Powerteam Services, Michels Corporation, Mastec Inc., Charter Oak Utility Constructors Inc., Paraflex, China Energy Engineering Group, and Qwest Communications International Inc. |
| Segments Covered | By End-User, By Product Type, By Type Of Contractors, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/7382
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?
Email Directly Here with Detail Information: sales@zionmarketresearch.com
The global utility system construction market is segmented as follows:
By End-User
- Public Infrastructure
- Business
- Industrial
- Services
- Residential
- Others
By Product Type
- Power And Communication Line
- Oil & Gas Pipeline
- Water Sewer Line
- Infrastructure Construction
- Others
By Type Of Contractors
- Large Contractors
- Small Contractors
- Online
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Request Free Brochure of the Global Utility System Construction Market @ https://www.zionmarketresearch.com/requestbrochure/utility-system-construction-market-size
What the Reports Offer:
- Comprehensive analysis of the primary market
- Significant alterations in market dynamics
- The market's segment specifications
- Statistics and revenue market analysis of historical, present, and forecast
- Evaluation of niche developments in the market
- Market share evaluation
- Principal strategies of market leaders
- Emerging markets and regional segments
- In order to strengthen the market position of businesses, testimonials are provided
Browse Other Related Research Reports from Zion Market Research
- Flexible Intermediate Bulk Container Market By End-User (Textiles, Pharmaceuticals, Textiles, Food, Oil & Gas, Food, Construction, And Others), By Type (Type A, Type B, Type C, And Type D), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/flexible-intermediate-bulk-container-market
- Galvanic Isolation Market By Data Range (Above 75 Mbps, 25-75 Mbps, And 25 Mbps), By Channel (Two Channels, Four Channels, Six Channels, Eight Channels, And Others), By Isolation Type (Giant Magnetoresistive, Magnetic Coupling, And Capacitive Coupling), By Sales Channel (Online Retail And Direct Sales), By Vertical (Transportation, Energy & Utility, Manufacturing, Industrial, Public, Healthcare, And Telecom Sectors), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030: https://www.zionmarketresearch.com/report/galvanic-isolation-market-size
- Bodyboards Market By Buyer (Professionals And Recreation/Hobbyists), By Type (Tandem Bodyboards And Conventional Bodyboards), By Sales Channel (Online And Offline), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/bodyboards-market
- Gantry Crane Market By Type (Single Girder Gantry Crane, Double Girder Gantry Crane, Portable Gantry Crane, Adjustable Gantry Crane, Others.), By Lifting Capacity (Up To 20 Tons, 20-50 Tons, 50-100 Tons, Above 100 Tons), By Application (Construction, Manufacturing, Ports And Logistics, Shipbuilding, Mining, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/gantry-crane-market-size
- Trencher Market By Product (Wheel Trencher, Chain Trencher, Micro Trencher, And Others), By Operating Type (Ride-On And Walk-Behind), By Application (Agriculture Trenching, Oil & Gas Pipeline Installation, Energy Cables & Fiber Optic Laying, Telecommunication Networks Construction, Sewers & Water Pipelines Installation, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/trencher-market-size
- Wagon Tipplers Market By Type (Mini Wagon Tippler And Large Wagon Tippler), By Application (Mining, Construction, Metallurgy, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/wagon-tipplers-market-size
About Zion Market Research:
Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Rushikesh Dorge | Zion Market Research
USA: +1 347 690-0211 | UK: +44 2032 894158 | Japan: +81 50 5806 9039 | India: +91 7768 006 007
Email: sales@zionmarketresearch.com | Web: https://www.zionmarketresearch.com/
Follow Us on - LinkedIn | Twitter | Facebook | Pinterest | YouTube
Also Read Our Blogs: https://zmrblog.com/
