Soaring Demand Set to Propel Utility System Construction Market to $964.95 Billion by 2029

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What Will the Utility System Construction Industry Market Size Be by 2025?
In recent periods, the market size of the utility system construction has been experiencing consistent expansion. The size is projected to increase from $804.75 billion in 2024 to $831.71 billion in 2025, witnessing a compound annual growth rate (CAGR) of 3.3%. Factors contributing to this growth in the historical period include infrastructure development, government policies, population increase, environmental challenges, and collaborations between public and private sectors (PPPs).

What's the Long-Term Growth Forecast for the Utility System Construction Market Size Through 2029?
The market size of utility system construction is set to observe constant growth over the upcoming years, reaching a valuation of $964.95 billion in 2029, with a compound annual growth rate (CAGR) of 3.8%. The growth projection for this period can be associated with the integration of smart infrastructure, the rise of renewable energy sectors, readiness for resilience and disaster, replacement of aging infrastructure, and issues related to cybersecurity. The main trends expected during the forecast phase comprise the execution of smart grids, replacement of outdated infrastructure, the establishment of energy storage facilities, comprehensive integration of digitalization and IoT, and the increased electrification in the transportation sector.

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What Are the Key Growth Drivers Fueling the Utility System Construction Market Expansion?
The anticipated driving force of the utility construction market is the accelerated growth within flourishing markets for the future outlook. This progression in the emerging markets has been fueled by an increase in disposable income, a consistent political climate, and heightened foreign investment. For example, in September 2023, the US-based Bureau of Economic Analysis reported a 2.1% annual growth rate of the real gross domestic product (GDP) for the second quarter of 2023. Stable growth is also anticipated in developed economies throughout the forecast period. Moreover, emerging markets are predicted to maintain a slight growth advantage over developed markets throughout the same period. Thus, robust economic growth increased construction demands in developing markets like China, India, Brazil, Saudi Arabia, and Indonesia, thereby positively influencing the market in the forecast period.

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What Are the Key Trends Driving Utility System Construction Market Growth?
The utility construction sector has persistently grappled with health and safety challenges. Work-related hazards are ever-present, especially considering that construction workers often operate in elevated or constricted areas, underground environments, or close to falling objects. They are also routinely involved in manual weight-bearing tasks, exposure to hazardous substances, usage of industrial equipment, and risk the dangers of fire and live electrical cables. Despite constituting only 6% of US employees, the American construction sector sadly accounts for about 20% of occupational fatalities - the highest of any industry. Inappropriately managed health and safety protocols can negatively affect both the process and product of construction, leading to fatal incidents, personal injuries, and ailments.

How Is the Utility System Construction Market Segmented?
The utility system construction market covered in this report 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 Type Of Contractor: Large Contractors, Small Contractors
3) By End User Sector: Private, Public

Subsegments:
1) By Water And Sewer Line And Related Structures Construction: Water Distribution Systems, Sewer Systems
2) By Oil And Gas Pipeline And Related Structures Construction: Crude Oil Pipelines, Natural Gas Pipelines
3) By Power And Communication Line And Related Structures Construction: Electric Power Transmission Lines, Telecommunications Lines

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Which Companies Are Leading the Charge in Utility System Construction Market Innovation?
Major companies operating in the utility system construction market include China State Construction Engineering Corporation Limited, China Railway Construction Corporation Limited, PowerChina, Power Construction Corporation of China, Vinci SA, China Energy Engineering Group Limited, Quanta Services Inc., Balfour Beatty plc, ABM Industries Inc., Fletcher Building Limited, Morgan Sindall Group plc, Primoris Services Corporation, Comfort Systems USA Inc., Dycom Industries Inc., MYR Group Inc., Michels Corporation, Integrated Electrical Services Inc., Henkels & McCoy Group Inc., Pike Corporation, PLH Group Inc., Charter Oak Utility Constructors Inc., Powerteam Services, InfraSource Services Inc., MasTec Inc., Willbros Group Inc., Astaldi S.p.A.

Which Regions Are Leading the Global Utility System Construction Market in Revenue?
Asia-Pacific was the largest region in the utility system construction market in 2024. North America was the second-largest region in the utility system construction market. The regions covered in the utility system construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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