The global civil engineering market size was valued at USD 7.74 trillion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. Rapid industrialization & urbanization in emerging economies coupled with the growing focus on the development of high-quality infrastructure worldwide is anticipated to drive market growth. An increasing number of infrastructure and capital projects is projected to boost the growth of the construction segment, which, in turn, is expected to drive the product demand over the forecast period.
Rapid urbanization along with increasing industrial manufacturing activities in emerging economies including China, India, and South Korea are anticipated to boost the market growth in the Asia Pacific. In addition, rising consumer disposable income levels in the region are anticipated to propel the demand for residential constructions, which is further projected to boost the market growth.
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Increasing urban population is expected to result in global demand for a better transportation system. Economies across the globe are developing various plans to meet this demand, which is projected to create numerous growth opportunities for the global market.
Key Player Mentioned:
- AECOM
- Amec Foster Wheeler plc
- United States Army Corps of Engineers
- SNC-Lavalin
- Fluor Corporation
- HDR, Inc.
- Tetra Tech, Inc.
- Stantec, Inc.
Application Segment Analysis:
- Real Estate
- Infrastructure
- Industrial
The market in China is expected to exhibit high growth on account of the rapid development of application industries including real estate, infrastructure, and industrial. Expansion of the industrial and commercial sectors coupled with a surge in demand for planning & designing services in the country is projected to promote market growth over the forecast period.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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The market players are expected to witness a low threat of new entrants owing to the capital-intensive nature of the market. The key players are well-equipped with innovative technologies and advanced machinery to offer engineering solutions, which requires a high initial investment. However, the rising demand for innovative solutions is expected to open new avenues for market entrants.
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