Civil Engineering Market Projected to Grow at a CAGR of 5.2%, Reaching USD 7834.5 billion During Forecast Period 2022 and 2030 – Report by Market Research Future (MRFR)

New York (US), May 26, 2023 (GLOBE NEWSWIRE) -- Civil Engineering Market Overview

The MRFR study reports imply that the "Civil Engineering Market Research Report Information by Customer Group, Region, Service, and Application - Forecast Till 2030", the global Civil Engineering market research predicts that the market is likely to bolster substantially during the review era from 2022 to 2030 at a substantial growth rate of around 5.20%. The reports further predict that the Civil Engineering market size will be nearly USD 7834.5 billion by the end of 2030. As per these study reports, the market was worth nearly USD 4964.4 billion in the year 2021.

Market Scope:

The global Civil Engineering industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing disposable income in emerging nations in order to boost infrastructure segment growth throughout the projection period. Furthermore, technological advancements in the construction sector worldwide are also believed to be one of the crucial parameters enhancing market performance.

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Competitive Analysis

The listing of the prominent leaders across the global market for Civil Engineering includes players such as:

• AECOM (U.S.)
• Tetra Tech Inc. (U.S.)
• SNC-Lavalin (Canada Jacobs Engineering Group Inc. (U.S.)
• HDR Inc. (U.S.)
• Fluor Corporation (U.S.)
• Galfar Engineering & Contracting SAOG (UAE)
• Stantec Inc. (Canada)
• United States Army Corps of Engineers (U.S.)
• Amec Foster Wheeler plc (U.K.)
• Among others.

Report Scope:

Browse In-depth Market Research Report (100 Pages) on Civil Engineering:

https://www.marketresearchfuture.com/reports/civil-engineering-market-7414

Market USP Covered

Market Drivers

The global Civil Engineering industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing disposable income in emerging nations in order to boost infrastructure segment growth throughout the projection period. Furthermore, technological advancements in the construction sector worldwide are also believed to be one of the crucial parameters enhancing market performance. Moreover, the Professional I.T. service deployment in the form of digitalization of construction permits, coupled with the flexible regulations for complicated building standards, is also projected to impact the market performance over the assessment period positively. In addition, factors such as the adoption of favourable policies & regulations by various government bodies and the growing investments in infrastructure development are also likely to catalyze the market performance over the coming years.

Market Restraints

On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated. Furthermore, the factors such as a lack of investment, expensive travel, a lack of money, and government laws are also projected to restrict the market's development.

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COVID-19 Impact

The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Civil Engineering market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.

Segment Analysis

Among all the service types, the planning and design service segment is anticipated to ensure the leading position across the global market for civil engineering over the assessment period, given mainly to the presence of many well-established civil engineering organizations in the market. Furthermore, the factors such as effective integration of the design & construction processes, focus on green construction materials, and low-cost qualities are also likely to enhance the segment's performance over the coming years.

Among all the application areas, the Real-estate sector held the leading position across the global market in 2021, given the rising buying power and consumer confidence. On the other hand, the infrastructure segment is anticipated to showcase the maximum growth rate over the review era given to the growing government and private investments in the construction of infrastructure projects.

Among all the consumer groups, the government clients segment held the top spot across the global market, with the largest contribution of nearly 41.2% of the worldwide civil engineering industry revenue, given mainly to favorable government policies for constructing railroads and road infrastructure. Furthermore, the restoration and maintenance of public infrastructure facilities are also likely to enhance the performance of the segment over the assessment period.

Regional Analysis

The global market for Civil Engineering is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.

The research reports by MRFR suggest that the North American region held the top position across the global Civil Engineering industry in the year 2021, with a contribution of nearly USD 1643.32 billion. The regional market is predicted to record a CAGR of 5.2% over the assessment period. The region has Canada and the U.S. as the leading growth contributors. The main aspect causing a surge in the regional market's performance is the increasing investments in infrastructure and construction projects coupled with economic growth.

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The European regional market for Civil Engineering is anticipated to grow substantially over the coming years, given factors such as the rising demand for faster, smarter, & affordable building processes, the strict VOC emission rules during construction, and the introduction of new materials.

The Asia-Pacific Civil Engineering Market is anticipated to showcase the maximum growth rate over the coming years owing to the availability of low-cost labor in markets and increased demand for industrial and commercial development.

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