Civil Engineering Market Size Worth $12.05 Trillion By 2028 | CAGR: 5.7%: Grand View Research, Inc.

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18 Mar, 2021, 08:35 GMT

SAN FRANCISCO, March 18, 2021 /PRNewswire/ -- The global civil engineering market size is expected to reach USD 12.05 trillion by 2028 registering a CAGR of 5.7% over the forecast period, according to a new report by Grand View Research, Inc. The rapidly growing residential construction sector on account of the rising population across the globe is expected to drive the growth of this market during the forecast period.

Key suggestions from the report:

Construction services is expected to grow at a CAGR of 5.5% from 2021 to 2028, which can be attributed to recent advances in the construction sector that are expected to revolutionize the industry and boost the segment growth
Real estate emerged as the dominant application segment in 2020 accounting for over 41% of global revenue share owing to high demand for residential properties as a result of rapid urbanization and increased consumer spending power
The government segment accounted for the largest revenue share of the global market in 2020 and is projected to retain its dominant position from 2021 to 2028 on account of the rising focus on infrastructure development across the globe
Middle East is expected to witness the fastest CAGR over the forecast period owing to growth in the residential construction sector along with the rise in consumer disposable income
Key industry participants are focusing on product portfolio and geographical expansions through mergers & acquisitions
For instance, Stantec acquired Wenck in Dec 2020. The acquisition is anticipated to expand the company's presence in the U.S.
Midwest, thereby providing growth opportunities in the energy, infrastructure, mining, manufacturing, and transportation sectors

Read 145 page research report with ToC on "Civil Engineering Market Size, Share & Trends Analysis Report By Services (Planning & Design, Construction), By Application (Real Estate, Infrastructure), By Customers (Govt., Private), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/civil-engineering-market

Various government initiatives for infrastructure development, especially in the Asia Pacific, Europe, and Africa regions, are expected to drive market growth. In addition, increasing consumer disposable income levels in emerging economies of Asia Pacific, such as India and China, are expected to drive the real estate segment, thereby benefiting the overall market growth.

Strict regulations in the Europe and North America regions, regarding VOC emissions during the construction process, are expected to boost the demand for precast/prefabricated construction products. The introduction of new materials, such as construction additives and eco-friendly building materials, is expected to create lucrative opportunities for market participants over the forecast period.

The strong presence of prominent civil engineering companies in the market, rise in demand for infrastructural development, need for transportation facilities, and other governmental interests in the engineering investment are some of the key factors that are expected to propel the growth of the market over the forecast period.

Grand View Research has segmented the global civil engineering market on the basis of services, application, customers, and region:

Civil Engineering Services Outlook (Revenue, USD Billion, 2017 - 2028)

Planning & Design
Construction
Maintenance
Others

Civil Engineering Application Outlook (Revenue, USD Billion, 2017 - 2028)

Real Estate
Infrastructure
Industrial

Civil Engineering Customers Outlook (Revenue, USD Billion, 2017 - 2028)

Government
Private
Others

Civil Engineering Regional Outlook (Revenue, USD Billion, 2017 - 2028)

North America

U.S.
Canada
Mexico

Europe

Germany
Russia
U.K.

Asia Pacific

China
India
Australia
Indonesia

Central & South America

Brazil

Middle East & Africa

Saudi Arabia
UAE
Qatar

List of Key Players of Civil Engineering Market

Aecom
Amec Foster Wheeler plc
United States Army Corps of Engineers
SNC-Lavalin
Fluor Corp.
HDR, Inc.
Tetra Tech, Inc.
Stantec, Inc.

Find more research reports on Advanced Interior Materials Industry, by Grand View Research:

Precast Concrete Market – The global precast concrete market size was valued at USD 92.14 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
Europe Civil Engineering Market – The Europe civil engineering market size was valued at USD 2,004.2 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 2.7% from 2019 to 2025.
Construction Additives Market – The global construction additives market size was estimated at USD 17.96 billion in 2016. Construction additives are gaining greater significance owing to the revival of the construction industry after the economic crisis in 2008.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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