Press release
Utility System Construction Market Overview Analysis, Trends, Share, Size, Type & Future Forecast to 2032
Utility System Construction Market
The global utility system construction market is expected to grow from $706.06 billion in 2021 to $ 775.82 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1084.28 billion in 2026 at a CAGR of 8.7%.
The utility system construction market is made up of entities (organisations, sole proprietorships, and partnerships) that build distribution lines and related buildings and structures for utilities (such as water, sewer, petroleum, gas, power, and communication). This market includes any structures (including buildings) that are essential components of utility systems (for example, storage tanks, pumping stations, power plants, and refineries). The work comprises new construction, additions, changes, maintenance, and repairs.
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Water and sewer line and related structures construction, oil and gas pipeline and related structures construction, power and communication line and related structures construction are the three primary forms of utility system construction.The core activity of the Water and Sewer Line and Related Structures sector is the construction of water and sewer lines, mains, pumping stations, treatment plants and storage facilities.
The work may include new construction, reconstruction, restoration, and repairs. It is used in a variety of industries, including private and public.
In 2021, Asia Pacific will be the largest region in the utility system building market.North America was the market for utility system construction's second largest region.
Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa are the regions covered in the worldwide utility system building market.
During the projected period, the utility construction market is expected to be driven by rapid growth in emerging markets.Rising disposable income, a stable political climate, and increased foreign investment in these countries encouraged the rise of emerging markets.
Market Segmentation:
Utility Type: The market can be segmented based on the type of utility system being constructed, such as electric power, water and wastewater, natural gas, and telecommunications.
Service Type: The market can be segmented based on the services provided in utility system construction, such as engineering, procurement, and construction (EPC), design-build (DB), and construction management (CM).
Technology: The market can be segmented based on the technology used in utility system construction, such as traditional construction methods and advanced technologies like Building Information Modelling (BIM), 3D printing, and Augmented Reality (AR).
End-Use Industry: The market can be segmented based on the end-use industry, such as residential, commercial, and industrial.
Project Size: The market can also be segmented based on the size of the utility system construction project, such as small, medium, and large.
Contract Type: The market can be segmented based on the type of contracts such as lump-sum, cost-plus, and time and material contracts.
Geography: The market can be segmented based on the geographic regions such as North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
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Competitive Landscape:
The global utility system construction market is highly competitive with the presence of numerous global and regional players.
Some of the key players operating in the market are:
AECOM
Bechtel Corporation
Black & Veatch Holding Company
Fluor Corporation
KBR, Inc.
Mott MacDonald
Skanska AB
Stantec Inc.
Suez Environment S.A.
Tetra Tech, Inc.
These players are focusing on strategic partnerships, collaborations, and acquisitions to expand their market share and geographical reach. They are also investing in research and development activities to introduce advanced technologies and sustainable solutions in utility system construction.
The market is also witnessing a trend of increasing partnerships and collaborations among the players to combine their technical expertise and resources for the successful execution of utility system construction projects. Additionally, many players are emphasizing on enhancing their service offerings by including project management, engineering, and consulting services to cater to the growing needs of customers.
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
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