Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) — The “Heavy and Civil Engineering Construction Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.
The global heavy and civil engineering construction market reached a value of nearly $1.99 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 4.30% since 2018. The market is expected to grow from $1.99 trillion in 2023 to $2.51 trillion in 2028 at a rate of 4.82%. The market is then expected to grow at a CAGR of 4.91% from 2028 and reach $3.2 trillion in 2033.
This report describes and explains the heavy and civil engineering construction market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from the investment in renewable power generation capabilities, growing investments in infrastructure, rapid industrialization, increasing public-private partnerships and increased focus on urban planning and development policies. Factors that negatively affected growth in the historic period include high material prices.
Going forward, the increasing electricity demand, increasing population, development of transportation infrastructure, increasing government support, urban redevelopment will drive the market. Factors that could hinder the growth of the heavy and civil engineering construction market in the future include a lack of skilled workers.
The heavy and civil engineering construction market is segmented by type into utility system construction, highway, street and bridge construction and other heavy and civil engineering construction. The highway, street and bridge construction market was the largest segment of the heavy and civil engineering construction market segmented by type, accounting for 43.60% or $868.22 billion of the total in 2023. Going forward, the heavy and civil engineering construction segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by type, at a CAGR of 5.56% during 2023-2028.
The heavy and civil engineering construction market is segmented by organization size into large contractors, medium contractors and small contractors. The large contractors market was the largest segment of the heavy and civil engineering construction market segmented by organization size, accounting for 41.83% or $833.04 billion of the total in 2023. Going forward, the medium contractors segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by organization size, at a CAGR of 5.34% during 2023-2028.
The heavy and civil engineering construction market is segmented by end user into private and public. The private market was the largest segment of the heavy and civil engineering construction market segmented by end user, accounting for 68.88% or $1.37 trillion of the total in 2023. Going forward, the private segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by end user, at a CAGR of 4.82% during 2023-2028.
Asia-Pacific was the largest region in the heavy and civil engineering construction market, accounting for 39.23% or $781.14 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the heavy and civil engineering construction market will be the Middle East and Africa, where growth will be at CAGRs of 16.76% and 14.52% respectively. These will be followed by South America and Asia-Pacific, where the markets are expected to grow at CAGRs of 9.40% and 4.40% respectively.
The global heavy and civil engineering construction market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 27.47% of the total market in 2023. China Railway Construction Corporation Limited was the largest competitor with a 5.60% share of the market, followed by China Railway Group Ltd. with 5.14%, China State Construction Engineering Corporation Ltd. with 3.95%, China Communications Construction Company Limited with 3.03%, Power Construction Corporation of China (PowerChina Corp.) with 2.99%, Skanska AB with 2.63%, Bouygues SA with 1.42%, Hochtief AG with 1.03%, STRABAG Group AG with 0.92% and Kiewit Corporation with 0.76%.
The top opportunities in the heavy and civil engineering construction market segmented by type will arise in the highway, street, and bridge construction segment, which will gain $269.95 billion of global annual sales by 2028. The top opportunities in the heavy and civil engineering construction market by organization size will arise in the large contractors segment, which will gain $215.87 billion of global annual sales by 2028. The top opportunities in the heavy and civil engineering construction market by end user will arise in the private segment, which will gain $363.64 billion of global annual sales by 2028. The heavy and civil engineering construction market size will gain the most in Turkey at $79.34 billion.
Market-trend-based strategies for the heavy and civil engineering construction market include focus on using imaging technology in the utility industry, strategic partnerships and collaborations, introduction of software transformations for the heavy and civil engineering industry and focus on wind-solar hybrid systems.
Player-adopted strategies in the heavy and civil engineering construction market include focus on strengthening business operations through new construction projects and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the heavy and civil engineering construction companies to focus on leveraging imaging technology for utility services, focus on software transformations for enhanced project efficiency, focus on integrating wind-solar hybrid systems, focus on highway, street and bridge construction segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, focus on competitive pricing strategies, participate in trade shows and events, continue to use B2B promotions and focus on targeting private market end-users.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 480 |
| Forecast Period | 2023 – 2033 |
| Estimated Market Value (USD) in 2023 | $2 Trillion |
| Forecasted Market Value (USD) by 2033 | $3.2 Trillion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Executive Summary
1.1 Heavy and Civil Engineering Construction – Market Attractiveness and Macro Economic Landscape
2 Table of Contents
3 List of Tables
4 List of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Heavy and Civil Engineering Construction Market Definition and Segmentations
6.4 Market Segmentation by Type
6.4.1 Utility System Construction
6.4.2 Highway, Street and Bridge Construction
6.4.3 Other Heavy and Civil Engineering Construction
6.5 Market Segmentation by Organization Size
6.5.1 Large Contractors
6.5.2 Medium Contractors
6.5.3 Small Contractors
6.6 Market Segmentation by End User
6.6.1 Private
6.6.2 Public
7 Product/Service Analysis – Product/Service Examples
8 Supply Chain Analysis
8.1 Raw Material Suppliers
8.2 Contractors
8.3 Architects and Consultants
8.4 Contractee
8.5 Customers
9 Customer Information
9.1 Rise in Real Estate Prices Due to Increase in Buildings Materials
9.2 Home Renovations Boosting The Civil Engineering Market Growth
9.3 Home Buyers Views on The Civil Engineering and Construction Industry
9.4 Lack of Materials and Increased Costs
9.5 Methods of Operation in Construction
9.6 Skills Shortage in The Civil and Construction Industry
9.7 Use of Recycled Materials in Civil Engineering and Construction
9.8 Rising Trend of Off-Site Construction
10 Major Market Trends
10.1 Use of Advanced Imaging Technology in Utility Infrastructure Monitoring
10.2 Strategic Partnerships and Collaborations Among Major Players
10.3 Focus on Using Innovative Digital Layout Technology for Building Construction Efficiency
10.4 Wind-Solar Hybrid Systems to Enhance Energy Output and Efficiency
11 Heavy and Civil Engineering Construction Market – Macro Economic Scenario
Key Mergers and Acquisitions
- ALEC Engineering and Contracting LLC Acquired INPROSERV
- Egis Acquired Thomas & Adamson
- PirTano Construction Company, Inc. Acquired Powerlink Electric
- Aegion Corporation Acquired Portland Utilities Construction Company
- Aegion Corporation Acquired Toncco
- Union Steel Holdings Acquired Fastweld Engineering Construction
- ALEC Group Acquired Target Engineering Construction Company
- Ayesa Acquired ByrneLooby
- ASGC Construction Acquired Costain
- Sullivan Street Acquired Osborne Infrastructure
- Kalpataru Power Transmission Ltd (KPTL) Acquired Fasttel Engenharia
Companies Featured
- China Railway Construction Corporation Limited
- China Railway Group Ltd.
- China State Construction Engineering Corporation Ltd.
- China Communications Construction Company Limited
- Power Construction Corporation of China (PowerChina Corp.)
- Skanska AB
- Bouygues SA
- Hochtief AG
- STRABAG Group AG
- Kiewit Corporation
- Doosan Group
- Terex Corporation
- Larsen & Toubro Ltd
- Hindustan Construction Company (HCC)
- Gammon India Limited
- IRCON International Limited
- Tata Projects Ltd
- Reliance Infrastructure
- DLF
- Vinci SA
- Koninklijke BAM Groep
- Volker Wessels Group Zeppelin GmbH
- SGS
- Interconstruct
- Anker Hansen & Co. A/S
- Christiansen & Essenbak A/S
- C.C. Contractor A/S
- EKE-Construction Ltd
- Colas Group
- Eiffage Construction
- Bauer Group
- Bennett Construction Limited
- Collen Construction Limited
- Casais Group
- Balfour Beatty
- Laing O’ Rourke
- Interserve
- Morgan Sindall
- Kier
- Budimex
- PORR Group
- Bechtel Corporation
- Fluor Corporation
- Granite Construction
- The Walsh Group Ltd
- Conestoga-Rovers & Associates (CRA)
- MTC Canada Inc
- Oderbrecht
- Camargo Correa
- Andrade Gutierrez
- Queiroz Galvao
- MRV Engenharia
- SalfaCorp
- Mourik General Contractors
- Gilbane Building Company
- McCrory Construction Company
- Redcon Construction Company
- Alex Group
- Amer Group
- Palm Hills Developments
- Al-Ahly Developmental Habtoor Group Llc
- Al-Naboodah Constructing
- Arabian Construction Company
- Dutco Balfour Beatty Llc
- Electra Ltd
- Shikun & Binui Ltd
- Mekorot Water Company Ltd
- Danya Cebus Ltd
- Ashtrom Group Ltd
- Saudi Bin Ladin Group.
- Al-Rashid Trading & Contracting Co
- Al Ayuni Investment & Contracting Co.
- Al Harbi Trading & Contracting Co
- ALEC Group
- GAMA Industry
- Arabian Bemco Contracting Co.
- Al Jaber Group LLC
- Landmark Holdings Ltd
- Epco Builders Limited
- Laxmanbhai Construction Ltd
- Parbatsiyani Construction Ltd
- Put Sarajevo
- Intex Construction
- Berger Nigeria Plc
- Reynolds Construction Company
- Thabimndeni Construction & Projects CC
- Orascom Contstruction
- Lubrik Construction Company
For more information about this report visit https://www.researchandmarkets.com/r/8ikisg
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- Heavy and Civil Engineering Construction Market
