2025 Utility System Construction Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Utility System Construction Industry Market Size Be by 2025?
The market size of utility system construction has seen a consistent growth over the past few years. The market which is projected to be worth $788.79 billion in 2024, is expected to propel to $807.33 billion in 2025 at a compound annual growth rate (CAGR) of 2.4%. The expansion during the historical timeline can be ascribed to factors like infrastructure enhancement, governmental policies, increase in population, environmental considerations, and collaborations between public and private sector (PPPs).

What's the Long-Term Growth Forecast for the Utility System Construction Market Size Through 2029?
Over the coming years, the market size for utility system construction is projected to experience consistent growth, reaching $942.2 billion in 2029 with a CAGR of 3.9%. The growth during the forecasted period is linked to factors such as the integration of smart infrastructure, growth in renewable energy, disaster readiness and resilience, the replacement of aging infrastructures, and cybersecurity issues. Noteworthy trends expected to influence this period include the implementation of smart grids, aging infrastructure replacement, the establishment of energy storage facilities, digitalization coupled with integration of IoT, and the electrification of transport systems.

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What Are the Key Growth Drivers Fueling the Utility System Construction Market Expansion?
The anticipated growth in the utility construction market is predominantly due to the rapid expansion in emerging economies within the forecasted timeframe. This expansion was fuelled by a surge in disposable income, a politically stable environment, and increased foreign investment in these nations. For example, according to a report from the Bureau of Economic Analysis, an agency of the U.S. government, in September 2023, there was a 2.1% annual rise in the Real Gross Domestic Product (GDP) during the second quarter of that same year. Moreover, a steady growth rate is also expected from developed economies throughout the forecast period. It is also projected that the growth rate of emerging markets will exceed that of developed markets slightly during this timeframe. As such, robust economic growth has stimulated demand for construction in emerging countries like China, India, Brazil, Saudi Arabia, and Indonesia, which in turn has catapulted the market surge within the forecast period.

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What Trends Will Shape the Utility System Construction Market Through 2029 and Beyond?
The well-being and protection concerns in the utility construction industry have perpetually been at the forefront. Workers in construction activities are consistently dealing with safety matters as they work in high areas, restricted spaces, underground, and close to falling objects. They are also subjected to various challenges like manually handling loads, dealing with harmful substances, using factory and equipment, fire hazards, and facing live cables. Though the American construction industry only makes up 6% of the US labor force, it shockingly accounts for about 20% of all work-related fatalities, the highest percentage compared to any other sector. Poor adherence to health and safety measures detrimentally affect both the processes of construction and the constructed environments, leading to loss of life, physical harm, and illnesses.

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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