Civil Engineering Market Competitive landscape By 2023

Civil Engineering Market Research Report, By Service (Planning & Design, Construction, Maintenance, and Others), Application (Industrial, Real Estate, and Infrastructure), Customer Group (Government and Private), and Region — Global Forecast till 2023

Market Synopsis: Global Civil Engineering Market

The global civil engineering market is anticipated to witness tremendous growth in the upcoming years which is attributed to the rise in disposable income coupled with technological advancements in the civil engineering projects in the overall construction industry. High demand for residential and infrastructure in emerging economies such as China, India and other South Asian countries, has further expected to generate impressive growth of the civil engineering market in the next few years. Increase in focus on innovation in construction materials is one of the trends in the construction industry, which is expected to fuel the demand for civil engineering designs over the forecast period.

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In order to improve infrastructure, large investments by government sector is anticipated to boost the demand for global civil engineering market by the end of 2023. The impressive growth in the real estate sector in the developing countries of Asia-Pacific such as India and China, will also enhance the demand for civil engineering market. Hence, the global civil engineering market is expected to witness a CAGR of around 5.4% over the forecast period. However, lack of skilled labor can be the major restraint for the civil engineering market.

Global Civil Engineering Market: Regional Analysis

Geographically, the global civil engineering market is segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the world (RoW). Asia-Pacific held the largest share in the civil engineering market. The market in this region is majorly driven by technological advancements in construction industry coupled with presence of manufacturers in this market.

Asia-Pacific region is also anticipated to witness maximum growth rate over the forecast period. While majority of the companies are based in the US, the Asia-Pacific region has witnessed an overwhelming increase in the demand for civil engineering market. Companies based out of the US are now setting up operations in countries such as India and China, which offer tax benefits and reduced manufacturing costs.

The global civil engineering market has been segmented on the basis of service, application, and customer group. The service segment is classified into planning & design, construction, maintenance, and others. On the basis of service, construction segment accounted the largest share in 2017 and is expected to retain this position till 2023. This is attributed to rise in industrial and infrastural construction projects coupled with technological advancements in construction material and equipment industry, which further propelled the growth of the overall civil engineering market.

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On the basis of application, the market is divided into industrial, real estate, and infrastructure. The real estate segment accounted for the largest market share in 2017 which is expected to retain this position till 2023. However, the industrial segment anticipated to exhibit maximum growth rate in this market. This is attributed to the expansion of industrial construction activities in emerging economies such as China and India.

On the basis of customer group, the market is divided into government and private sectors. The government segment emerged to be the dominant segment which accounted for the larger market share of around 40% in the overall civil engineering market, attributable to various government policies and frameworks in the construction industry.

However, the private sector is anticipated to witness higher CAGR over the forecast period, which is attributed to the rise in consumer disposable income coupled with increased spending on households.

Key players operating in the global civil engineering market includes AECOM (US), Amec Foster Wheeler plc (UK), United States Army Corps of Engineers (US), SNC-Lavalin (Canada Jacobs Engineering Group, Inc. (US), Galfar Engineering & Contracting SAOG (UAE), Fluor Corporation (US), HDR, Inc. (US), Tetra Tech, Inc. (US), and Stantec, Inc. (Canada).

The global civil engineering market is highly competitive with many companies, across the globe. The companies adopted various strategies to expand their global presence and increase their foothold in the overal market. Some of the key strategies adopted by the companies include expansions & investments, acquisitions, and securing contracts.

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