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Soaring Demand Set to Propel Architectural, Engineering Consultants And Related Services Market to $1819.33 Billion by 2029
Architectural, Engineering Consultants And Related Services
How Large Will the Architectural, Engineering Consultants And Related Services Market Size By 2025?
In recent times, the market size of architectural, engineering consultants and associated services has seen consistent growth. It is projected to increase from $1489.87 billion in 2024 to $1549.81 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%. The expansion during the historical period can be traced back to an increase in demand for eco-friendly and authorized buildings, significant economic progress in emerging markets, a surge in construction activities, globalization, and governmental subsidies and funding.
How Big Is the Architectural, Engineering Consultants And Related Services Market Size Expected to Grow by 2029?
The market for architectural and engineering consultants, in addition to related services, is projected to experience consistent expansion in the upcoming years. It is estimated to rise to $1819.33 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 4.1%. The growth during the predicted period is a consequence of accelerated economic growth, heightened investment in smart cities, a rise in government spending on infrastructure development, and the surge in green construction. Key trends during this forecast period echo these growth drivers - a hastened economic growth, escalated investment in smart cities, uptick in infrastructure development funding by governments, and the bloom of green construction.
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Which Key Market Drivers Powering Architectural, Engineering Consultants And Related Services Market Expansion and Growth?
The surge in the necessity for buildings that are environmentally friendly and have the proper credentials is anticipated to fuel the architecture and engineering services market. State governments, consumers, and NGOs are collaborating to make commercial and residential properties more self-reliant and energy-efficient. Private builders and property developers are revising their plans to accommodate these requests, leading to numerous advantages including an escalation in rental and resale values, lower operational expenses, homeowner fulfillment, and local or international acclaim. The Leadership in Energy and Environmental Design (LEED) certification scheme was rolled out by the US Green Building Council to provide a range of rating systems specifying the upkeep, design, and construction of housing projects. A study carried out by the US Green Building Council (USGBC) found that buildings granted the LEED certification have been successful in diminishing carbon, energy, waste, and water misuse by about 30-97% and reducing operational expenses by more than 9%.
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Which Fast-Growing Trends Are Poised to Disrupt the Architectural, Engineering Consultants And Related Services Market?
5D building information modeling (BIM) is increasingly being utilized by architectural and engineering consultants, enabling them to generate flexible building plans that can be adjusted at various stages of the project. BIM software is an instrumental tool in building and structural design, capable of designing lighting, HVAC systems, and mechanical, electrical, and plumbing systems. It also has applications in clash detection, cost projections, and safety evaluations. The dynamic architectural designs produced by 5D BIM can be modifiable and customizable in real-time. The tool amasses data from various project groups and facilitates collaboration across the entire construction process, thereby mitigating project lags. For example, The Korte Company, a construction management firm, is leveraging 5D BIM technology for project design, planning, and cost estimation, which leads to accelerated decision-making. Additionally, the Maharashtra Metro Rail Corporation in Maharashtra, India is employing 5D BIM in its $3 billion construction ventures to cut down costs and potential legal issues.
What Are the Emerging Segments in the Architectural, Engineering Consultants And Related Services Market?
The architectural, engineering consultants and related services market covered in this report is segmented -
1) By Type: Engineering Services, Architectural Services, Surveying And Mapping Services, Geophysical Services, Laboratory Testing Services, Building Inspection Services, Drafting Services
2) By Service Provider: Large Enterprise, Small And Medium Enterprise
3) By Application: Road, Rail, Port, Airport, Pipeline, Power, Other Applications
Subsegments:
1) By Engineering Services: Civil Engineering Services, Structural Engineering Services, Mechanical Engineering Services, Electrical Engineering Services, Environmental Engineering Services
2) By Architectural Services: Architectural Design, Urban Planning, Interior Design, Landscape Architecture
3) By Surveying And Mapping Services: Land Surveying, Geodetic Surveying, Construction Surveying, Aerial Surveying
4) By Geophysical Services: Seismic Surveys, Magnetic Surveys, Ground Penetrating Radar (GPR)
5) By Laboratory Testing Services: Material Testing, Environmental Testing, Structural Testing
6) By Building Inspection Services: Pre-Purchase Inspections, Code Compliance Inspections, Quality Assurance Inspections
7) By Drafting Services: CAD Drafting, 3D Modeling, Technical Drawing Services
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Who Are the Global Leaders in the Architectural, Engineering Consultants And Related Services Market?
Major companies operating in the architectural, engineering consultants and related services market include Downer EDI Limited, WSP Global Inc, John Wood Group PLC, Jacobs Engineering Group, Inc, Fluor Corporation, Babcock International, Kiewit Corporation, Zaha Hadid Architects, The African Engineering Company (SAFI), Beijing Engineering Corp Ltd, Architecture BRIO, Architecture Discipline, Camargo Correa, Cutler. Architecture, Dutco Balfour Beatty, Zvi Hecker Architekt, Redcon Construction Company, HPP Architects, Power China Kunming Engineering Corp. Ltd, Soned Afrique, Thabimndeni Construction & Projects CC, Mourik General Contractors, WTorre Empreendimentos, BCHO Architects Associates, JSWD Architekten, Construcciones Planificadas, Cabinet of Engineering for Development (CAÏD), Queiroz Galvao, China Construction Engineering Design Group Corp. Ltd, Gensler San Francisco, BDP - Building Design Partnership, ZAS Architects + Interiors Inc, Allford Hall Monaghan Morris, Allies and Morrison, khatib & alami, kadawittfeldarchitektur, Iroje KHM Architects, MRV Engenharia, APEX Project Bureau, Arch-BOX, PTW Architects, JEMS Architekci, Julius Berger Nigeria Plc, Danya Cebus Ltd, HDR Omaha, Lubrik Construction Company, Oiltek Engineering Co. Ltd, La' Ala Al-Kuwait Real Estate Co, Bechtel Corporation, Aecom, Ingarden & Ewy - Architekci, Polish Architecture, Gulf Coast Electromechanical Company (UAE), Orascom Contstruction, China Architecture Design & Research Group, Andrade Gutierrez, Reynolds Construction Company, NV5, Shikun & Binui, Nakheel, Ecomo, WorleyParsons Limited, CP Kukreja Architects, Zaher Architects, Hager Design International Inc., AF construction, Maki & Associates, Grandio, Oderbrecht, Perkins and Will Chicago, Al Habtoor Group LLC, Ashtrom Group Ltd, Eco-Beam, Sou Fujimoto Architects, Design Plus Architects, Arabian Bemco Contracting Co, KPMB Architects, Al Rashid Trading & Contracting Co, Al Rajhi Hydraulic Center, Harry Seidler & Associates, SalfaCorp, Gav Yam Land Corporation Ltd, Estim Construction Co. Ltd, Foster + Partners, Cadence Architects, Unsangdong Architects, Stantec, KBR, Inc., Turner Construction, Shigeru Ban Architects, Peter Stutchbury Architecture, Marco Casamonti & Partners
Which are the Top Profitable Regional Markets for the Architectural, Engineering Consultants And Related Services Industry?
Western Europe was the largest region in the architectural, engineering consultants and related services market in 2024. North America was the second largest region in the architectural, engineering consultants and related services market. The regions covered in the architectural, engineering consultants and related services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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