Heavy And Civil Engineering Construction Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Heavy and civil engineering construction is the process of building, altering, repairing, improving, or demolishing any complex large government and city project structures using a detailed design and plan.

Sizing and Forecast
The heavy and civil engineering construction market size has grown steadily in recent years. It will grow from $1953.67 billion in 2023 to $2036.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%.  The  growth in the historic period can be attributed to growth in emerging markets, low interest rate environment, technological developments and strategic collaborations.

The heavy and civil engineering construction market size is expected to see steady growth in the next few years. It will grow to $2420.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.  The growth in the forecast period can be attributed to increasing population growth, rising urbanization, increasing infrastructure development, rapid industrialization and rising government initiatives. Major trends in the forecast period include using 3d printing technologies to reduce costs and improve efficiencies, focus on use drones technology with the potential to rapidly map large areas over long distances, producing valuable aerial heat maps and thermal images, consider using prefabrication techniques to enhance construction efficiencies and reduce costs, invest in building information modeling (bim) technology to enhance construction quality and labor productivity, consider using construction management software to make construction business processes a lot easier through automation, invest in artificial intelligence to improve safety of the workers in the construction site to track real time interactions and potential safety issues, use new applications to manage their construction activities, and invest in smart highways for providing real time information to the drivers about the traffic information and road conditions, making driving safer..

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Segmentation & Regional Insights
The heavy and civil engineering construction market covered in this report is segmented –
1) By Type: Utility System Construction, Highway, Street, And Bridge Construction, Other Heavy And Civil Engineering Construction
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By End User: Private, Public

Sub segments: Water And Sewer Line And Related Structures Construction, Oil And Gas Pipeline And Related Structures Construction, Power And Communication Line And Related Structures Construction,
Roads And Highways, Bridges And Tunnels, Other Highway, Street, And Bridge Construction, Marine And Ports Construction, Rail Road Construction, Sea Wall Construction, All Other Heavy And Civil Engineering Construction

Asia-Pacific was the largest region in the heavy and civil engineering construction market in 2023. North America was the second-largest in the heavy and civil engineering construction market. The regions covered in the heavy and civil engineering construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing economic growth is driving the growth of the heavy and civil engineering construction markets. Economic growth denotes the expansion of an economy’s ability to generate goods and services as time progresses. The construction sector, including civil engineering construction, can actively contribute to economic growth by means of infrastructure advancement, job creation, government contracts, and enhancements in productivity. For instance, in September 2023, according to the Bureau of Economic Analysis, a US-based government agency, during the second quarter of 2023, the United States experienced a 2.4% increase in real GDP, marking an improvement from the 2.0% growth observed in the preceding quarter.  Therefore, the increasing economic growth will propel the growth of the heavy and civil engineering construction markets.

Key Industry Players
Major companies operating in the heavy and civil engineering construction market report are China Railway Construction Corporation Limited, China Railway Group Ltd., China Communications Construction Co. Ltd., China State Construction Engineering Co. Ltd., Power Construction Corporation of China, Vinci S.A., Bouygues S.A., Strabag SE, Skanska Group, Bechtel Corporation, Anant Raj Industries Limited, B Seenaiah & Company (Projects) Ltd (BSCPL), Consolidated Construction Consortium Ltd (CCCL), East Coast Constructions and Industries Ltd, Lendlease Group, Laing O’Rourke Australia, Zeppelin GmbH, SGS, Interconstruct, Anker Hansen & Co. A/S, Christiansen & Essenbæk 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, Interserve, Morgan Sindall, Roads Of Russia, Llc Aecon, Altaca, Enka, Magnet Construction Company, Renaissance Construction, Esta Construction, Etalon Group, Llc Stroygazmontazh, Fluor Corporation, Granite Construction, Kiewit Corporation, The Walsh Group Ltd, Conestoga-Rovers & Associates (CRA), MTC Canada Inc., Oderbrecht, Camargo Corrêa, Andrade Gutierrez, Queiroz Galvão, 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, 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, Arabian Bemco Contracting Co., 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

The heavy and civil engineering construction market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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