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Global Civil Engineering Market to Grow at a CAGR of 5.2% During 2021-2026, Aided by the Thriving Construction Industry and the Rapid Technological Advancements

According to a new report by EMR titled, ‘Global Civil Engineering Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 7.52 trillion in 2020. The civil engineering Industry is further expected to grow at a CAGR of 5.2% between 2021 and 2026.

The global civil engineering market has been driven by the thriving construction industry. In the historical period, the renovation activities, retrofitting, reconstruction, and alterations made to the existing structure significantly supported the market growth. Over the forecast period, the increasing importance of digital engineering in the construction sector, growing investment in the commercial real estate sector due to the rising consumer trust, rapid urbanisation in emerging economies, and growing industrial construction are likely to propel the market growth.

The government policies to support the construction of green buildings and eco-friendly building structures are likely to bolster the market growth in the forecast period. This is expected to result in increased consumer demand for eco-friendly construction strategies, thereby compelling key civil engineering companies to meet this rising demand. For instance, in April 2021, AECOM (NYSE: ACM) took a decision to launch Sustainable Legacies, its strategy to meet ambitious environmental, social, and governance objectives, which will allow it to achieve net-zero carbon emissions and carry out eco-friendly construction projects. Such developments are expected to aid the industry growth in the forecast period.

Geographically, the Asia Pacific is likely to account for a significant share in the market. This can be attributed to factors like the low-labour cost, increasing importance of digitisation in the engineering and construction sectors, and the presence of a large population, especially in countries like India and China. The resurgence of construction activities post ease of COVID-19 induced lockdowns is expected to further aid the market growth in the region.

Market Breakup by Service, Application, Customer, and Region:

  • The market is segmented based on service into planning and design, construction, and maintenance, among others.
  • The different applications of the product include real estate, infrastructure, and industrial.
  • Based on customer, the industry can be divided into government, private, and others.
  • Region-wise, the global market for civil engineering can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for civil engineering is being driven by the growing population, thereby propelling the demand for residential buildings, shopping malls, and theatres, among others.
  • The growing digitisation in the engineering and construction sectors is expected to further aid the market growth. 
  • The thriving construction industry, along with favourable government policies, is likely to bolster the demand for civil engineering.
  • The market is expected to be aided by the improving commercial real estate value for investors due to the rising consumer trust.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for civil engineering for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the services, applications, customers, and regions of civil engineering.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global civil engineering market are AECOM, Stantec, Inc., SNC-Lavalin Group, Fluor Corporation, HDR, Inc., Tetra Tech, Inc, and Amec Foster Wheeler plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players. 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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