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Architectural, Engineering Consultants And Related Services Market Expansion Continues, with Forecast Valuation of $1815.59 Billion by 2029
Architectural, Engineering Consultants And Related Services Market
What Is the Expected CAGR for the Architectural, Engineering Consultants And Related Services Market Through 2025?
Over recent years, there has been a consistent expansion in the market size of architectural, engineering consultants and related services. It is projected to escalate from $1486.59 billion in 2024 to a remarkable $1538.24 billion in 2025, with a compound annual growth rate (CAGR) of 3.5%. The growth experienced during the historic period is presumably due to an increase in demand for eco-friendly and certified buildings, significant economic advancement in developing markets, a surge in construction activities, globalisation, and governmental subsidies and funding.
What's the Projected Size of the Global Architectural, Engineering Consultants And Related Services Market by 2029?
The size of the market for architectural, engineering consultants, and related services is predicted to witness consistent expansion in the forthcoming years. By 2029, it is estimated to reach $1815.59 billion, with a compound annual growth rate (CAGR) of 4.2%. The projected growth is due to factors such as speedy economic growth, escalating investments in smart cities, augmenting government spending on infrastructure development, and the surge in green construction. Key trends in the forecast period are accelerated economic growth, heightened investment in smart cities, increased expenditure on infrastructure development by governmental bodies, and the rise of green construction.
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Top Growth Drivers in the Architectural, Engineering Consultants And Related Services Industry: What's Accelerating the Market?
A surge in the need for environmentally friendly and approved structures is anticipated to propel the architecture and engineering services market. Individuals, state agencies, and non-profits are striving to make residential and commercial structures more energy competent and autonomous. In response to these needs, private builders and property developers are redefining projects, which yields numerous advantages such as augmented rental and resale values, owner satisfaction, decreased operational expenditures, and regional or global acclaim. The Leadership in Energy and Environmental Design (LEED) certification program was implemented by the US Green Building Council to establish a collection of rating systems that outline the construction, design, and upkeep of residential ventures. A survey conducted by the US Green Building Council (USGBC) revealed that LEED-certified edifices have succeeded in lessening carbon, energy, waste, and water wastage by roughly 30-97% and operational expenses by over 9%.
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Which Fast-Growing Trends Are Poised to Disrupt the Architectural, Engineering Consultants And Related Services Market?
Architectural and engineering consultants are harnessing the power of 5D building information modeling (BIM) to construct dynamic architectural designs that can be modified during the later project stages. BIM software is a technological tool useful in designing buildings and structures, comprising elements like lighting, HVAC systems, and mechanical, electrical, and plumbing systems. It also aids in clash detection, cost approximation, and safety evaluation. The 5D variant of BIM allows architectural designs to be adjusted and tailored in real-time. It gathers data from various team sources in a project, fostering collaboration across the construction chain, this way overcoming project holdups. On the ground, The Korte Company, a construction management firm, is utilizing 5D BIM software for project design, planning, and cost approximation, thereby fostering quicker decision-making. Another practical application is seen where the Maharashtra Metro Rail Corporation located in the Indian region of Maharashtra is employing 5D BIM for its $3 billion worth construction projects to decrease expenses and legal disputes.
What Are the Main 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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Which Top Companies are Driving Growth 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 Regions Will Dominate the Architectural, Engineering Consultants And Related Services Market Through 2029?
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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