Increasing Demand For Sustainable And Clean Energy Alternatives Fueling The Growth Of The Market Due To Rising Depletion Of Fossil Fuels Emerges as a Core Driver of the Energy And Utilities Construction Market in 2025

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What Is the Expected CAGR for the Energy And Utilities Construction Market Through 2025?
Over the past few years, the market size for energy and utilities construction has seen a robust increase. It is expected to surge from $121.67 billion in 2024 to $132.37 billion in 2025, marking a compound annual growth rate (CAGR) of 8.8%. This growth witnessed in the historical period can be traced back to the escalating demand for electricity, an increase in the construction of natural gas pipelines, the rise in the building of solar power plants, the development of hydrogen infrastructure, and the proliferation of floating solar power plant installations.

What's the Projected Size of the Global Energy And Utilities Construction Market by 2029?
Expectations are high for the energy and utilities construction market, as it is on track for significant growth in the coming years. With a predicted compound annual growth rate (CAGR) of 8.4%, the market estimated worth is expected to reach $182.79 billion by 2029. This growth over the forecast period is due to a combination of factors including an increased demand for clean, sustainable energy alternatives, a surge in the adoption of smart grids, a growing need for infrastructure that can withstand disasters, ongoing urbanization, and escalating government investment. The forecast period will also see prevalent trends such as strategic partnerships, smart grid technology development, a rise in the adoption of energy storage systems, digital twins integration, and the incorporation of the Internet of Things.

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Top Growth Drivers in the Energy And Utilities Construction Industry: What's Accelerating the Market?
The energy and utilities construction market is expected to grow due to an escalating demand for environmentally friendly, renewable and clean energy alternatives. These not only rely on natural processes but also produce minimal to zero harmful emissions. An increased push toward adopting sustainable solutions is a consequence of dwindling fossil fuel resources. Construction initiatives in energy and utilities are playing a pivotal role in promoting these renewable energy alternatives by establishing and improving facilities that can leverage these renewable sources efficiently. As an example, the International Energy Agency (IEA), a France-based intergovernmental organization, shared in January 2024, that the global renewable energy capacity had seen an increase of 50% in 2023 compared to the previous year, reaching nearly 510 gigawatts (GW). Solar PV made up the bulk of this increase, accounting for about 75% of the new additions. Therefore, the escalated demand for renewable and clean energy alternatives continues to power the growth of the energy and utilities construction market.

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What Trends Will Shape the Energy And Utilities Construction Market Through 2029 and Beyond?
Leading firms in the energy and utilities construction industry are forming strategic alliances to supply critical energy and construction services to people, businesses, and government entities. Strategic alliances denote a method where companies utilize each other's proficiencies and assets for mutual benefits and prosperity. For example, in July 2022, Matterport, Inc., an American spatial data firm, teamed up with Burns & McDonnell, an American construction firm, to offer digital twin technology to the energy, utilities, and manufacturing sectors. Through Matterport's platform, Burns & McDonnell's clients can generate 3D virtual doubles of their facilities to simplify construction, upkeep, and documentation actions. This synergy bolsters project efficacy, safety, and teamwork, all while cutting down on site visits, travel expenses, and project durations. Among the prominent outcomes are Central Lincoln People's Utility District reducing site visits by 250, accomplishing projects under budget, and other customers trimming project durations by 30% and facility travel by as much as 80%.

What Are the Main Segments in the Energy And Utilities Construction Market?
The energy and utilities construction market covered in this report is segmented -

1) By Type: Energy Construction, Utilities Infrastructure Construction
2) By Technology: Conventional Technologies, Renewable Energy Technologies, Smart Grid Technologies, Advanced Metering Infrastructure
3) By Scale of Project: Small-Scale Projects, Medium-Scale Projects, Large-Scale Projects
4) By Application: Civil Use, Military Use
5) By End-Users: Residential, Commercial And Industrial, Public Sector And Infrastructure

Subsegments:
1) By Energy Construction: Power Plant Construction, Renewable Energy Facility Construction, Transmission Line Construction, Electrical Substation Construction, Battery Energy Storage System Installation, Microgrid Development, Electric Vehicle Charging Infrastructure
2) By Utilities Infrastructure Construction: Water Supply Network Construction, Sewage and Wastewater System Construction, Natural Gas Pipeline Construction, Electrical Grid Infrastructure, District Heating and Cooling Systems, Telecommunications Utility Lines, Stormwater Drainage Systems

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Which Top Companies are Driving Growth in the Energy And Utilities Construction Market?
Major Companies operating in the energy and utilities construction market are BASF SE, Fluor Corporation, AECOM, Sika AG, TechnipFMC plc, McDermott International Ltd., KBR Inc., Dassault Systèmes SE, Huntsman Corporation, NPL Construction Co., Ashland Inc., GCP Applied Technologies Inc., Master Builders Solutions Deutschland GmbH, BlackEagle Energy Services LLC, Denbow Company Inc., Mapei SpA, PAC Technologies LLC, Skanska UK Plc, Jacobs Engineering Group Inc., Larsen & Toubro Limited, John Wood Group PLC, Bechtel Corporation

Which Regions Will Dominate the Energy And Utilities Construction Market Through 2029?
North America was the largest region in the energy and utilities construction market in 2024. The regions covered in the energy and utilities construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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