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Civil Engineering Market 2019 – 2025 with Regional Analysis, Applications and Trends | Lading Companies: AECOM, Jacobs, Vinci Construction, Bechtel Corporation
Civil Engineering Market
Increasing demand for domestic construction activities along with rising disposable income, constant policy support, and lower labor costs will provide a strong outlook for the civil engineering market across the region. Stringent regulations & policies pertaining to significant reduction in atmospheric GHG emission levels will provide a positive scope for the market growth.
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Asia Pacific is anticipated to surpass USD 5.5 trillion in the overall civil engineering market by 2025. Major government spending & initiatives on several mega projects in the key metropolitan cities across the region will provide positive scope for the business expansion. Additionally, shifting manufacturers focus towards green building construction techniques supporting industry development. Surging consumer preferences toward environment-friendly materials will foster multiple opportunities for industry players over the projected timeframe.
Joint ventures & strategic collaborations are the among the key strategies are adopted by the major industry participants. The leading companies are making significant investments in certain technological & innovative advancements for strengthening their foothold in the overall civil engineering market across the globe. For instance, in March 2019, ARC Nuclear Canada, Inc. entered in an agreement with the AECOM to provide the construction services & architecture for supporting the deployment of ARC Nuclear's ARC-100 SMR.
Civil engineering market is competitive in nature owing to the presence of several global and regional players. Major companies present in the industry include:
• AECOM
• Jacobs
• Vinci Construction
• Hochtief Ag
• Boyugues Construction
• Acs Actividades De Contruccion Y Servicios
• Bechtel Corporation
• Hyundai Engineering and Construction Co. Ltd.
• Power Construction Corporation of China Ltd.
• Construtora Noberto Odebrecht S. A.
• Strabag SE
• Kiewit Corporation
• Balfour Beatty PLC
• Skanska
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Continuous heavy investments by the leading industry players in several smart city projects in the developing economies such as UAE, Saudi Arabia, and India will enhance the industry landscape. Increasing necessity for efficient management & movement of population across large metropolitan cities will support the industry development. In addition, redesigning of the existing transportation systems such as efficient pedestrian systems for the appropriate accommodation of more traffic will further provide strong business outlook.
Government purchases customer segment accounted for over 50% share of the overall civil engineering market in 2018. Increasing number of approvals for several frameworks & policies by various government bodies across the globe will augment the segment growth. Additionally, easy affordability of residential spaces to the lower middle-class population coupled with large-scale investments for the improvement of numerous public infrastructures will propel the segment growth.
Residential buildings application will witness significant gains over the projected time frame. Increasing population and rapid urbanization in the developing economies such as South Africa, Saudi Arabia, and India will propel the industry size. Rising consumer disposable income along with the provision of low interest rates by banks on housing loans will support the civil engineering market expansion over the projected timeframe.
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