New York, US, June 08, 2022 (GLOBE NEWSWIRE) -- Civil Engineering Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Civil Engineering Market Information by Service, Application, Customer Group, and Region - Forecast till 2030”, the market is estimated to grow at a 5.7% CAGR to reach USD 12.05 Trillion by 2030.
Market Synopsis
Civil engineering is concerned with the design, construction, and upkeep of manufactured or naturally occurring structures in the environment. Market expansion is expected to be driven by rapid industrialization and urbanization in emerging economies and a growing focus on the development of greater infrastructure globally. An increase in infrastructure and capital projects is likely to promote the construction segment's growth, which will drive product demand over the forecast period.
The segment's growth will be aided by the adoption of new and novel building technologies in construction and infrastructure and the increased use of green raw materials. Furthermore, increased capacity, cheap pricing, and the improved efficiency of new building materials are primary elements driving the company's growth. Over the research period, rising consumer disposable income combined with low lending rates will benefit market share.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: USD 12.05 Trillion |
| CAGR | 5.7% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–20230 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Trillion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Service, Application, Customer Group, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Technological advancements in construction |
| High demand for residential and infrastructure in emerging economies |
Market Competitive Landscape:
The notable contenders in the civil engineering market are:
- Stantec, Inc. (Canada)
- Amec Foster Wheeler plc (U.K.)
- United States Army Corps of Engineers (U.S.)
- AECOM (U.S.)
- SNC-Lavalin (Canada Jacobs Engineering Group, Inc. (the U.S.)
- Fluor Corporation (U.S.)
- Galfar Engineering & Contracting SAOG (UAE)
- HDR, Inc. (U.S.)
- Tetra Tech, Inc. (U.S.)
Market USP Covered:
Market Drivers:
Due to the surge in additional cash mixed with specialized advancements in structural designing duties in the global civil engineering market, global interest in structural designing is expected to grow significantly in the coming years. The appeal for private and charity funding is expected to drive incredible growth in the civil engineering business in emerging nations. The growing urban population is expected to increase global demand for a better transportation system. Economies are developing different designs worldwide to meet this demand, which is expected to open up diverse development prospects for the global civil engineering market.
Buyers' lifestyles are expected to expand worldwide, allowing private and business growth regions to thrive. A rapidly growing metropolitan population is a major driving force in civil engineering. The growth of government ventures in producing and constructing frameworks worldwide, particularly in developing economies, is a significant component of the global civil engineering industry. An upsurge in the number of construction and capital projects is likely to promote the construction segment's growth, which will drive product demand over the forecast period. Intensifying consumer disposable income in developed markets is expected to fuel the real estate segment and thus the industry's expansion.
Market Restraints:
Huge government speculation is likely to boost interest in the global civil engineering market sector. The massive land area expansion in non-industrial countries will increase interest in the civil engineering business. As a result, the global civil engineering market sector is expected to grow faster over the forecast period. Nonetheless, a scarcity of highly skilled people could be a major impediment to the growth of the civil engineering industry.
The global civil engineering market is strongly reliant on the global construction industry, which is extremely vulnerable to microeconomic and macroeconomic factors that generate economic swings. This is a significant stumbling block for the worldwide civil engineering market.
Browse In-depth Market Research Report (100 Pages) on Civil Engineering: https://www.marketresearchfuture.com/reports/civil-engineering-market-7414
COVID 19 Analysis
Due to the protracted lockdown in key worldwide countries, the COVID-19 pandemic has caused the international civil engineering business to shut down the manufacturing of various products. This has impeded the worldwide civil engineering market's growth in recent months, and it is expected to persist. COVID-19 has already had a detrimental impact on equipment and machinery sales in the fiscal first half of 2020 and is expected to continue throughout the year. Furthermore, the lockdown's potential impact is unknown, and organizations' financial recovery depends entirely on their cash reserves. Companies that manufacture equipment and machinery can afford a full lockdown for only a few months, after which the participants will have to change their investment plans.
Market Segmentation
Based On Services
The civil engineering market development segment was the most significant.
Based On Application
The largest portion was made up of the land segment.
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Regional Insights
The civil engineering market in North America will expand significantly. Major market participants' growing investments in infrastructure and building projects and the U.S. economy's growth are among the key drivers of corporate expansion. Furthermore, the continual construction of sewage systems across major North American urban cities will accelerate the market landscape further.
Over the study period, the civil engineering market in Europe will see significant expansion. Speedy technological breakthroughs, improvements in construction processes, and important digitization trends will help increase market share throughout the region. Rising demand for faster, smarter, and cheaper construction processes will accelerate regional growth in large economies. Furthermore, a movement toward sophisticated building idea designs, combined with favorable government laws, will bode well for market expansion. Positive signals in public and private debt are assisting in expanding the European construction industry, which is likely to increase market growth. Furthermore, the region's expanding need for commercial buildings is expected to boost the market growth.
Rapid urbanization and increased industrial production activity in emerging economies like India, China and South Korea will drive Asia-Pacific market growth. Over the projection period, market growth is expected to be aided by the expansion of the country's industrial and commercial sectors and a surge in demand for planning and design services. Furthermore, expanding consumer discretionary income standards in the region are expected to drive demand for residential projects, further boosting market expansion.
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