Utility System Construction Global Market Growth Analysis, Industry Insights, Outlook 2023 To 2032

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The Utility System Construction Global Market Report 2023 by The Business Research Company, provides utility system construction market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/utility-system-construction-global-market-report

According to The Business Research Company’s Utility System Construction Global Market Report 2023, the market size is expected to grow from $717.5 billion in 2022 to $752.81 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The utility system construction market is expected to grow to $881.85 billion in 2027 at a CAGR of 4.0%.

The utility construction market is expected to be driven by rapid growth in emerging markets in the forecasted period. In emerging markets, growth was aided by rising disposable income, a stable political environment, and increasing foreign investment in these countries.

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The utility system construction market is segmented:

1) By Type: Water And Sewer Line And Related Structures Construction, Oil And Gas Pipeline And Related Structures Construction, Power And Communication Line And Related Structures Construction

2) By End User Sector: Private, Public

3) By Type of Contractor: Large Contractors, Small Contractors

Utility system construction companies are using advanced technologies such as drones to efficiently manage projects. A drone is an unmanned aerial vehicle (UAV) that is integrated with communication technologies and controlled by a remote. Some of the typical applications of drones in utility system construction include earthwork volume calculations, elevation mapping, and environmental analysis. During the construction, the terrain can change on a daily basis, thus requiring project managers to monitor these changes. Drones are also being used to monitor project progress and help managers with decision-making.

The utility system construction market report table of contents includes: