"Increase in governmental as well as private sector spending is expected to drive the overall market"
Global civil engineering market is expected to benefit significantly over the forecast period owing to rising demand for non-residential construction projects that require mostly civil engineers. Civil is an engineering branch that mainly concerns itself with the design, construction, and maintenance of the physical as well as naturally built environment. They find applications in both private as well as public sector.
Governments across the globe are focusing on developing the existing infrastructure and building new ones. Rising pressure on governments to provide better amenities, connectivity, and basic infrastructure have increased public spending on areas such as roads, highways, and dams. These activities require extensive planning and careful execution from their inception to finalization. Civil Engineering caters to this need. This rise in governmental spending is expected to positively benefit the global civil engineering industry.
Favorable regulations and laws about safety and prevention for hazards are proving beneficial for the overall market. Customers are spending more on planning and designing to make construction activities free from the potential risks.
Companies focusing more on diversification and expansion characterize the industrial sector. This has increased the demand for space. Moreover, several factors such as raw material procurement, labor availability, geographical presence and efficient distribution have forced major companies to undertake construction of new business plants. This trend is expected to positively benefit the market growth.
The residential real estate sector is bound to witness rapid growth due to rising disposable income and standard of living. Rapid urbanization, government support and demand for better and accessible services are expected to benefit the commercial real estate sector. The growth in residential as well as commercial real estate sector have positively benefitted the industry in the recent past and is expected to continue the same over the forecast period.
The industry is expected to be restrained by various factors, primary among them being the lack of skilled labor, rebound in public investments and increasing investment rates. Longer payment delays, high financial fluctuations and postponing of infrastructure investment by governments are the major industry characteristics.
Recent technological developments in the concerned sector are benefitting the overall market growth. Efficient ways of building such as 3d printing and offsite construction have shown promising results. Governments are encouraging the usage of green building practices. Advancements in areas such as Building Information Modeling (BIM), computational mechanics and modeling, mechanics of materials, damage & fracture mechanics and foundation engineering are benefitting the overall growth.
"Construction dominated the services section in 2015"
Construction accounted for a major part of the services and this trend is expected to continue over the forecast period. Recent developments in the service such as those in concrete technology, advanced techniques of project management, and structural engineering are expected to benefit the overall market.
Huge investments, damage risks and requirement of periodic updating have catered to the demand for maintenance services. Planning and design services has seen a demand rise in the recent past due to customers seeking to avoid possible mishaps and this trend is expected to continue over the forecast period.
"Infrastructure segment to grow significantly over the next nine years"
Infrastructure segment has witnessed rapid investment growth from governments across the globe due to rising demand to provide better facilities to its citizens. Rising population has also propelled market growth of the segment as governments have to invest in projects such as dams, roads and bridges to cater to the civic amenity demand that entails rising population.
Industrial sector is also expected to witness a significant growth from 2016 to 2024. Growth of key end use industries such as energy, nuclear, automotives, food & beverages, manufacturing, and leisure & hospitality are catering to a demand rise.
"Government projects dominated the customers section in 2015"
Governments emerged as the major customers in 2015. Electoral pressure, rising demand for better civic facilities and efforts to boost industrialization by providing quality infrastructure are the major factors contributing to this trend.
The demand from the private sector is also expected to witness a significant rise over the next nine years. Strong demand for housing, company strategies of expansion and government policies are catering to this demand.
"Asia Pacific expected to drive the market over the forecast period"
Rising population, increasing employment rates, and rapid urbanization in emerging countries such as India, and China are expected to cater growth for civil engineering services from real estate sector. Also, government initiatives in these countries to provide better infrastructure has prompted a rise in government spending thus benefitting the industry in the region.
North America and Europe also contributed substantially to the market. The Middle East and Africa region were characterized by postponing of infrastructure investments due to slump in oil prices. Rising disposable income, improving economic conditions, and growing demand for better amenities are expected to benefit the overall market in Central and South America.
"Companies focusing more on proper selection of construction projects"
Companies are focusing more on offering integrated civil engineering services. They are trying to provide tighter control on projects and increased delivery speed. Major companies work in tandem with governments to establish and fulfill their objectives.
Major companies include URS Corporation, HDR Inc., United States Army Corps of Engineers, Foster Wheeler, SNC-Lavalin’s, Kentz, AMEC, AECOM Technology Corp., Jacobs Engineering Group, CH2M HILL Companies, Galfar Engineering & Contracting SAOG and Fluor Corporation.
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