Civil Engineering Market

Civil Engineering Market - Overview

The global civil engineering market is projected to expand at a favorable rate from 2021 to 2031 (forecast period). Rapid industrialization and urbanization in developing markets and a growing emphasis on the development of high-quality infrastructure globally are expected to boost the global civil engineering market expansion. Moreover, a growing number of infrastructure and capital projects are likely to fuel construction segment growth, which in turn is estimated to push the global civil engineering market throughout the projection period. Furthermore, rising consumer disposable income in developing countries is likely to propel the real estate segment and thus the global civil engineering market's expansion.

Civil Engineering Market - Competitive Landscape

Key players active in the global civil engineering market are Aecom, United States Army Corps of Engineers, HDR, Inc., SNC-Lavalin, Fluor Corp., Tetra Tech, Inc., Amec Foster Wheeler plc, and Stantec, Inc.

The players are primarily concerned with introducing advanced technologies such as equipment and materials for the construction of sustainable buildings. Most businesses also prioritize lowering operational expenses, boosting building quality, and increasing production efficiency. Moreover, huge investments in R&D for creating energy and cost-efficient designs provide organizations a competitive advantage over one another.

Civil Engineering Market - Trends and Opportunities

The global civil engineering market is projected to expand due to rising construction activities globally. With rising urbanization, the global real estate sector is likely to expand at a rapid pace. As per United Nations (U.N.) figures, over 54% of the world population lives in cities, which creates job opportunities and raises individual income levels. The worldwide residential construction market is projected to rise as a result of growing consumer living standards around the world. Increasing worldwide population and urbanization are the driving forces behind the world's rapid infrastructure development. Around the world, smart cities are being built, and public infrastructure is being upgraded and expanded. Schools, libraries, hospitals, community centers, recreational parks, bus stops, airports, railway stations, and other public amenities are being constructed, extended, or upgraded. The construction of industrial plants, commercial office buildings, manufacturing and assembly plants, and shopping malls is rising globally. Such factors are projected to boost the global civil engineering market during the forecast period.

Concerns about the environmental impact of construction practices are growing as environmental deterioration, depletion of natural resources, global warming, and pollution levels increase worldwide. This is expected to increase the usage of green building materials. Green building materials are more energy-efficient and eco-friendly than traditional building materials. Green building materials, which have a smaller carbon footprint than conventional materials, are projected to help prevent global warming. Moreover, green building materials are less expensive and easier to maintain, and they use less water, eliminating the waste of vital resources. As a result of these reasons, the growing use of green building materials in the worldwide construction market is likely to propel the global civil engineering market.

Civil Engineering Market - Regional Landscape

The Asia Pacific civil engineering market is expected to grow due to low labor costs in fast-growing economies like China, India, and Vietnam, among others. Moreover, the increasing population in the region, fast urbanization, and the need to improve the infrastructure of hospitals, schools, and numerous healthcare facilities are some critical aspects projected to drive the regional market throughout the projection period.

The civil engineering market in North America is anticipated to expand during the forecast period. Rising investments in infrastructure and construction projects by key market players and economic growth in the United States are among the significant likely to boost the regional market growth.