Civil Engineering Industry Overview
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.
Civil Engineering Market Segmentation
Grand View Research has segmented the global civil engineering market on the basis of services, application, customers, and region:
Based on the Services Insights, the market is segmented into Planning & Design, Construction, Maintenance, Others.
- The construction services segment led the market and accounted for more than 27% share of the global revenue in 2020. Increasing demand for various rail structures, tunnels, bridges, and other civil works on account of the growing population and traffic issues across the globe is anticipated to propel the civil engineering market growth.
- The planning & design service segment is anticipated to witness the fastest CAGR over the forecast period owing to the presence of multiple well-established global civil engineering companies in the market. Planning & design is an essential part of any construction project, which ensures the proper integration of the design and construction process.
- The maintenance of a structure is an essential part of civil engineering to prolong the life cycle of a structure and to avoid losses. It includes a number of tasks from cleaning and repairing to replacements. An increasing number of maintenance and redevelopment projects across the globe is anticipated to promote market growth.
- Other services include renovation activities, retrofitting, reconstruction, and alterations made to the existing structure. Increasing renovation activities owing to the rising need to prolong the life of a structure is expected to aid the market growth.
Based on the Application Insights, the market is segmented into Real Estate, Infrastructure, Industrial.
- The real estate segment accounted for over 41% share of the global revenue in 2020 and is expected to witness significant growth over the forecast period. Rising purchasing power and consumer confidence are fueling the recovery of housing construction including both new constructions as well as renovation. This is expected to result in overall market growth.
- The infrastructure segment is estimated to register the fastest CAGR from 2021 to 2028. Increasing public and private investments in the infrastructure projects development including railways, roads, airports, waterways, and others are projected to drive segment growth over the forecast period.
- Industrial application is expected to witness a significant growth rate of 5.9% over the forecast period. Increasing manufacturing activities coupled with rising demand for industrial infrastructure including R&D, manufacturing, processing facilities as well as warehouses are expected to result in the rising demand for civil engineering services across the globe.
Based on the Customers Insights, the market is segmented into Government, Private, Others.
- The government customers segment led the market and accounted for more than 41% of the global revenue share in 2020. Favorable government policies for the development of railways and road infrastructure, as well as the renovation of public infrastructure buildings and their maintenance, are projected to benefit the segment growth.
- Rising public spending in housing projects with the increasing investments in new construction and renovation is expected to have a major impact on the market across the globe.
- The private sector, including construction contractors, individuals, and real estate developers are, is also a major customer of civil engineering services. Increasing investment by private companies in construction activities including housing projects and the development of healthcare centers & new schools indicates the rising demand for civil engineering services from private institutions.
Civil Engineering Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market players are expected to witness a low threat of new entrants owing to the capital-intensive nature of the market. The key players are well-equipped with innovative technologies and advanced machinery to offer engineering solutions, which requires a high initial investment.
Some prominent players in the global civil engineering market include
- AECOM
- Amec Foster Wheeler plc
- United States Army Corps of Engineers
- SNC-Lavalin
- Fluor Corporation
- HDR, Inc.
- Tetra Tech, Inc.
- Stantec, Inc.
Order a free sample PDF of the Civil Engineering Market Intelligence Study, published by Grand View Research.
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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