Civil Engineering Market Trends
China civil engineering market to register substantially high gains over 2016-2025, surging demand from industrial infrastructure applications to spur the regional growth
Increasing investments in infrastructural developments across the globe will boost civil engineering market significantly. With digitization conquering the global industrial landscape, the development of smart cities is on an incline, which will also provide a positive impetus to civil engineering market. The infrastructure of a country is largely responsible for its overall progress, subject to which the governments of various countries have been investing heavily in the construction sector and infrastructural development. The rapid industrialization, urbanization, rise in population, and the government norms regarding sustainable construction will be key factors propelling civil engineering market. According to Global Market Insights, “Civil Engineering market was worth USD 7990 billion in 2015 and is slated grow at an annual growth rate of more than 3.5% over the coming years of 2016 to 2025.
Europe Civil Engineering Market size, by application, 2013-2025 (USD Billion)
Prominent customer groups of civil engineering market include private businesses and government purchase. Civil engineering market from private business customer group is predicted to register an annual growth rate of 4.1% over the coming years of 2016 to 2025. Escalating investments in the housing sector to provide shelter to the ever-growing population base will favor the business growth. Supportive government policies regarding infrastructure development will also augment civil engineering market expansion.
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Taking into account the application landscape, civil engineering market is mainly divided into industrial infrastructure, energy, transport, and residential buildings. Industrial infrastructure application segment will exhibit considerable growth rate over the coming timeframe. Surging investment by the government for the development of roads, bridges, and dams will influence the product demand noticeably. In addition, rising infrastructure development across various sectors such as automotive, nuclear, leisure & hospitality, and food & beverages will propel civil engineering industry share.
Transportation application landscape will grow at an annual growth rate of more than 2% over the coming eight years. Significant investment by the government in road transport facilities will generate flourishing growth prospects for the product. The residential sector is also another lucrative application segment that is expected to register fairly substantial gains over 2016-2025.
Government purchase customer group segment collected a revenue of more than USD 4080 billion in 2015 and will register significant CAGR over the coming timeframe, owing to the increasing number of civil facilities and the pressure to develop high quality infrastructure.
Considering the geographical trends, U.S. civil engineering market will collect a revenue of USD 1830 billion by 2025. The escalating investments in industrial infrastructure, commercial, and residential sectors across this region will augment the industry growth. Furthermore, the government has been implementing numerous legislations pertaining to energy conservation, which will also influence the industry share noticeably.
Russia civil engineering industry will register CAGR of more than 2.5% over the coming eight years. The presence of a huge industrial base of mining, metallurgical, and oil & gas sector will fuel the requirement of civil engineering on large scale.
China civil engineering market size, worth more than US 3400 billion revenue in 2015, will exhibit a noticeable growth rate over the years ahead. Strong initiation taken by the government to develop infrastructure in the various sectors such as road & transport, power plants, and commercial buildings will augment the industry outlook.
The noteworthy participants in this market are US Army Corps of Engineers, Foster Wheeler, Galfar Engineering & Contracting SAOG, HDR, Inc., URS Corporation, CH2M Hill, Jacobs Engineering Group, AECOM Technology, SNC-Lavalin, Fluor Corporation, and Kentz.
Author Name :Sunil Hebbalkar