IMARC Group, a leading market research company, has recently releases report titled “Civil Engineering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global civil engineering market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Civil Engineering Market?
The global civil engineering market size reached US$ 8.9 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.5 Trillion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
Civil engineering involves designing, planning, building, maintaining, and executing several structural works. It involves the transportation, construction, management, and architecture of geotechnical projects to develop physical and naturally built environments, including roads, bridges, tunnels, canals, dams, subways, sewage systems, pipelines, waterways, and railways. Over the years, there has been a growing need for civil engineering to set up schools, hospitals, seaports, airports, private offices, residential structures, and commercial industries. As a result, civil engineering finds extensive applications across government, private, real estate, and industrial sectors.
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What are the growth prospects and trends in the civil engineering industry?
The market is primarily driven by expanding building and construction activities across the globe. In addition, the escalating demand for luxurious residential properties, the rising disposable incomes, the growing population, and rapid urbanization are contributing to market growth. Moreover, the key market players are entering into public-private partnerships (PPP) to target multiple industry models and incorporate digital transformation in construction activities, representing another major growth-inducing factor.
Besides this, various projects undertaken by governments of different countries to develop smart cities and enhance existing infrastructure projects are also providing a positive thrust to market growth. Moreover, the increasing demand for reconstruction, retrofitting, and renovating activities to extend the life of a structure, is accelerating the product adoption rate.
Furthermore, the widespread adoption of connected construction and modularization strategies by civil engineering companies to boost operational efficiency and improve productivity is also creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Service Type:
- Planning and Design
- Construction
- Maintenance
- Others
Breakup by Application:
- Real Estate
- Infrastructure
- Industrial
Breakup by End User:
- Government
- Private
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ACS Actividades de Construcción y Servicios S.A., AECOM, Fluor Corporation, Hyundai Engineering and Construction Co. Ltd. (Hyundai Motor Company), Jacobs Engineering Group Inc., Laing O'Rourke, Power Construction Corporation of China Ltd., Royal BAM Group nv, Saipem S.p.A. (Eni S.p.A.), Strabag SE (Basalt-Actien-Gesellschaft), Tetra Tech Inc. and Vinci SA.
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