The
global Civil Engineering Market size
is projected to be valued at USD 12.08 trillion by 2025 at a 5.6% CAGR during
the forecast period, according to a new report by Grand View Research, Inc.
Rise in disposable income, coupled with rapid expansion of the middle-income
population group, is driving the civil engineering market, particularly in
China and India. Moreover, technological advancements in various civil
engineering procedures, along with advent of various software and solutions,
has favored the market to a great extent.
Large
investments by governments to improve infrastructure is expected to boost the
global civil engineering market by 2025. Developing countries are offering
financial benefits to encourage regional development, both in terms of
investment and infrastructural development. Rapidly increasing global
population is expected to generate significant demand for residential
construction and infrastructure. A thriving real estate sector in emerging
economies such as India and China will further drive the market.
By
service, construction has emerged as the largest segment, occupying a 27.82%
share in 2017. The construction industry in Asia Pacific has been developing
rapidly in recent years and has witnessed numerous technological advancements
and unique architectural designs. Recent advances in the sector are expected to
revolutionize the civil engineering industry and boost segment growth in the
coming years.
On
the basis of application, real estate held the dominant share in the global
civil engineering market. Rapidly increasing global population is expected to
generate significant demand for residential construction. Moreover, innovation
in building materials is expected to shape civil engineering designs during the
forecast period. Enhanced capacity, higher efficiency and affordable pricing of
some of these materials will encourage their adoption in the sector. In
addition, availability of various banking and finance facilities is predicted
to benefit the segment by 2025.
Government
formed the leading segment by customer and held a share of 41.6% in 2017. The
segment is anticipated to reach USD 5.01 trillion by 2025 at a CAGR of 5.5%
over the forecast period. Governments around the world are making largescale
investments to improve infrastructure in their respective countries and provide
affordable housing to the population.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/civil-engineering-market
Further key findings from the report suggest:
- Construction formed the largest service segment in North America.
The segment is projected to reach USD 661.0 billion by 2025, exhibiting a
CAGR of 4.4% over the forecast period
- Europe is the second largest market for civil engineering,
accounting for a share of 26.5% in 2017. The construction sector has been
a major contributor to the overall GDP in most countries across the region
- Asia Pacific is the largest civil engineering market and held a
33.1% share in 2017. Rising disposable income and rapid expansion of the
middle-income population group, particularly in China and India, is driving
the APAC market.
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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