Pune, India, February, 2019,/MRFR Press Release/- Market research future published a half-cooked research report on global civil engineering market. The civil engineering market is expected to grow over the CAGR of around 5.4% during the period 2018 to 2023.
The global civil engineering market is anticipated to witness sustainable growth during the forecast period. The rising demand for eco-friendly & sustainable construction and government support, fuel the demand of civil engineering market across the globe. However, high cost of the raw materials coupled with lack of skilled labor, hinders the growth of the civil engineering market.
Asia-Pacific region, to see a gradual increase in the civil engineering market over the forecast period
Based on region, the global civil engineering market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific region dominated the global civil engineering market, followed by Europe and Asia-Pacific, primarily due to the high demand for infrastructure projects, which in the process creates demand for imported building and construction materials and services. Asia-Pacific is projected to be the most lucrative region with construction industry investing in civil engineering projects. Furthermore, various global manufacturers are investing in the manufacturing sector, which is further expected to boost the demand for civil engineering market. China is one of the leading markets in this region. Growing industrialization and increased population, fuel the demand of residential houses. Hence, the civil engineering market is expected witness a CAGR of 5.4% between 2018 and 2023.
Construction segment, to witness maximum growth rate in the overall civil engineering market
Based on service, the construction segment, accounted for the highest contributor to the global civil engineering market in terms of value and volume both in 2017, which is expected to contnue its dominance between 2018 and 2023, which is attributable to the rapid urbanization and increase in construction activities in the industrial and residential projects across the emerging economies such as Asia-Pacific and Middle East & Africa. Counties such as India, China, UAE, and Saudi Arabia are projeted to winess tremendous growth in infrastructural developemnt over the forecast period.
Infrastructure segment, to witness maximum growth rate in the overall civil engineering market
In terms of application, the infrastructure segment is anticipated to exhibit sustainable growth for the next future. This is attributed to the technological advancements in construction material and equipment industry, across the globe.
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Global Civil Engineering Market, 2016-2023 (USD Million)
Source: MRFR Analysis
Scope of the Report
This study provides an overview of the global civil engineering market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global civil engineering market by product, end-user, and region.
The prominent players in the civil engineering market are 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).