Huge Growth And Opportunities in Global Civil Engineering Market Till 2023

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Business

Summary

Market Research Future added New Report Named "Global Civil Engineering Market Research Report- Forecast 2023" to its Database

Press Release

The global civil engineering market has been segmented on the basis of service, application, and customer group. The service segment is classified into planning & design, construction, maintenance, and others. On the basis of service, construction segment accounted the largest share in 2017 and is expected to retain this position till 2023. This is attributed to rise in industrial and infrastural construction projects coupled with technological advancements in construction material and equipment industry, which further propelled the growth of the overall civil engineering market.

On the basis of application, the market is divided into industrial, real estate, and infrastructure. The real estate segment accounted for the largest market share in 2017 which is expected to retain this position till 2023. However, the industrial segment anticipated to exhibit maximum growth rate in this market. This is attributed to the expansion of industrial construction activities in emerging economies such as China and India.

On the basis of customer group, the market is divided into government and private sectors. The government segment emerged to be the dominant segment which accounted for the larger market share of around 40% in the overall civil engineering market, attributable to various government policies and frameworks in the construction industry.