Civil Engineering Market Size Worth US$ 11.71 Trillion by 2027, Industry Growth Rate (CAGR) 5.60%

The global civil engineering market size reached US$ 8.38 Trillion in 2021. By 2027, it will reach US$ 11.71 Trillion, growing at a CAGR of 5.60% (2022-2027).

SHERIDAN, WYOMING, USA, February 22, 2023 /EINPresswire.com/ -- The latest research study “Civil Engineering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global civil engineering market reached a value of US$ 8.38 Trillion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.71 Trillion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.

Civil engineering involves designing, planning, building, maintaining, and executing several structural works. It involves the transportation, construction, management, and architecture of geotechnical projects to develop physical and naturally built environments, including roads, bridges, tunnels, canals, dams, subways, sewage systems, pipelines, waterways, and railways. Over the years, there has been a growing need for civil engineering to set up schools, hospitals, seaports, airports, private offices, residential structures, and commercial industries. As a result, civil engineering finds extensive applications across government, private, real estate, and industrial sectors.

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Civil Engineering Market Trends and Drivers:

The market is primarily driven by expanding building and construction activities across the globe. In addition, the escalating demand for luxurious residential properties, the rising disposable incomes, the growing population, and rapid urbanization are contributing to market growth. Moreover, the key market players are entering into public-private partnerships (PPP) to target multiple industry models and incorporate digital transformation in construction activities, representing another major growth-inducing factor.

Besides this, various projects undertaken by governments of different countries to develop smart cities and enhance existing infrastructure projects are also providing a positive thrust to market growth. Moreover, the increasing demand for reconstruction, retrofitting, and renovating activities to extend the life of a structure, is accelerating the product adoption rate.

Furthermore, the widespread adoption of connected construction and modularization strategies by civil engineering companies to boost operational efficiency and improve productivity is also creating a favorable market outlook.

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Global Civil Engineering Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Civil Engineering Companies:

ACS Actividades de Construcción y Servicios S.A., AECOM, Fluor Corporation, Hyundai Engineering and Construction Co. Ltd. (Hyundai Motor Company), Jacobs Engineering Group Inc., Laing O'Rourke, Power Construction Corporation of China Ltd., Royal BAM Group nv, Saipem S.p.A. (Eni S.p.A.), Strabag SE (Basalt-Actien-Gesellschaft), Tetra Tech Inc. and Vinci SA.

The report has segmented the market on the basis of region, service type, application and end user.

Breakup by Service Type:
• Planning and Design
• Construction
• Maintenance
• Others

Breakup by Application:
• Real Estate
• Infrastructure
• Industrial

Breakup by End User:
• Government
• Private
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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