Civil Engineering Market Will Reach at a 5.4% CAGR 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 Insights

Progress in infrastructure development across the world has favored the civil engineering market drastically. Market Research future Reports (MRFR) has accumulated research study analysis which projects that the global civil engineering market is likely to expand more exponentially at a CAGR of 5.4% by the end of 2023. MRFR has also enumerated the latest developments, key contributors, challenges, future opportunities and continuous upgradation rendering a positive impact of the market landscape.

Global civil engineering market will exhibit a noticeable growth rate over the assessment period owing to some serious strong initiation that has been started taken by the government to develop infrastructure in road & transport, power plants, and commercial buildings, which will thus augment the industry outlook in positive aspects.

Global Civil Engineering Market Drivers & Trends

Global civil engineering market is tremendously proliferating with the rapid emergence of sustainable urban infrastructure development. As the population over the world is expanding speedily, there is a need for significant developments to be done at a steady pace. The explosive population growth is providing a stable outlook for the civil engineering market size as there is a rise in disposable income and technological advancements in civil engineering projects. A significant surge in population is being witnessed in China and India, owing to which, high demand for residential and unfractured is emerging year by year. This has led to the market of civil engineering market to generate impressive growth in the next five years.

Moreover, increasing investments in infrastructural development on a global level will also boost civil engineering market significantly. With digitalization in the industrial landscape is in the powers, the development of smart cities is expanding tremendously. Hence, this will provide a positive impetus to the civil engineering market in the foreseen years. India and China are the prime regions where infrastructural developments are at its peak display advancement in technology in various civil engineering processes and events.

On the other hand, the incorporation of new & innovative technologies for building construction in smart cities continues to foster civil engineering market growth across the globe at a higher CAGR. Further, continuous substantial investments are being made by the top industry players in several smart city projects in the developing regions such as UAE, Saudi Arabia, and India will also expect to enhance the civil engineering market scenario. With this, huge investments are also being made by governing bodies to improve infrastructure is also likely to impact the market with positivity during the assessment period. Various key players are providing financial aid and investing to encourage regional development mainly in infrastructural development. Due to the proliferation of population, the need for residential infrastructure development and construction is on the rise. Therefore, the real estate sector is also blooming with such requirement and hence, contributing largely in the global civil engineering market share.

Civil Engineering Market Segmentation

According to the reports by MRFR, the global civil engineering market has been segmented under service, application, and customer group.

Segmentation by service, this market is classified into planning & design, construction, maintenance, and others.

Segmentation by service, the market includes construction, which has accounted to have the largest market share since 2017 and is expected to retain such position till the year 2023. This market share attributed to the rise in industrial and infrastructural projects coupled with technological advancements in construction material and equipment industry. These factors will further propel the growth of the overall market of civil engineering market.

Segmentation by application, this market comprises of industrial, real estate, and infrastructure. Wherein, the real estate segment has observed to account the largest market share in 2027 and will remain in the same position by 2023 as well. Though, the industrial segment anticipated to exhibit the maximum growth rate in this market as attributed to the enormous expansion of industrial construction activities in emerging regions, globally.

Segmentation by customer group, the market includes government and private sectors where government segment has emerged to be the leading segment. This prominent position is accounted for the larger market share in the entire civil engineering market owing to various government policies and frameworks in the construction industry.

Regional Outlook

Region-wise, the global civil engineering market has covered major regions of North America, Europe, Asia-Pacific, and Rest of the world (RoW). Wherein, Asia-Pacific held the largest share in the civil engineering market as it is majorly driven by technological advancements in the construction industry coupled with the presence of key manufacturers in this market.

In North America, the majority of the companies are based in the US, so this region has witnessed an irresistible increase in the demand for civil engineering market.

Key Players

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).