In terms of regional presence other key industry participants are Jacobs Engineering Group, Kentz, AECOM Technology, Galfar Engineering & Contracting SAOG, CH2M Hill, SNC-Lavalin’s, and Fluor Corporation.
What is the scope of civil engineering in India?
Civil Engineering Market size is expected to reach USD 11.72 trillion by 2025; according to a new research report by Global Market Insights, Inc.
Population demographics along with increasing urbanization have facilitated the need for sustainable and efficient infrastructure solutions. Development in green buildings, sensor-embedded roads & buildings, geopolymer concrete, and water management will stimulate global civil engineering industry growth.
Escalating demand for sophisticated infrastructure accompanied by rising income levels along with increasing investment in smart grids, industry automation, urban mobility, and parking systems technologies and policies should drive civil engineering market growth. Global government purchases were over USD 4 trillion in 2015. Rising non-residential projects spending associated with public funding including sewage & waste disposal, transportation, education, streets & highways, and water supply are major contributors.
China civil engineering market holds a huge potential owing to its positive outlook on healthcare, education, retail, and social infrastructure spending along with one-child policy discontinuation. APAC industrial infrastructure market was valued at over USD 150 billion in 2015. Surging concept design & development, industrial expansion, demand for highly developed facilities across numerous sectors will positively impact civil engineering market growth.
High initial investment along with low rate of ROI are key factors impacting civil engineering market trends. Non-availability of skilled labor and longer duration of projects with traditional processes may threaten growth.
Source: Civil Engineering Market Size
Global Civil Eigineering Industry Overview:
U.S. civil engineering market size is set to witness attractive gains; forecast to be worth over USD 1.80 trillion by 2025. Policy developments by American Society of Civil Engineers (ASCE) pertaining to better infrastructure solutions have encouraged regional industry growth.
Increased FDI influx towards smart cities project in emerging regions will lead to favorable market climate for contractors. Growing prominence of public private partnerships or alternative financing and procurement (AFP) projects owing to various benefits offered by government including one-time grants, revenue subsidies including tax breaks and by guaranteed revenues for a fixed timespan.
Russia residential applications generated over USD 135 billion in valuation for 2015. The government programmes to modernize the country’s energy, transport, and social infrastructure are key factors stimulating regional demand.
EU, Eurasian Economic Union, and CIS together account for over 20% industry share in 2015. Central and Eastern European countries may experience significant gains owing to absorb all funds availed from EU.
Middle East, led by increasing construction spending generated over USD 275 billion revenue from private business. Presence of large scale manufacturers owing to huge infrastructure potential particularly in Qatar, Saudi Arabia, and Dubai have encouraged regional industry growth.
Global civil engineering market share is inclined to offer services which helps in improving project delivery speed and to keep a check on project efficiency. Major industry players include URS Corporation, US Army Corps of Engineers, Foster Wheeler, and HDR.