Civil Engineering Market Size Worth $13.35 Trillion By 2027 “The global civil engineering market size is projected to touch USD 13.35 trillion by the year 2027. It is anticipated to grow at a CAGR of 5.4%through the forecast period of 20202027. Increasing public-private partnership to promote the investment in infrastructural development in developing nations is anticipated to boost the market growth.”
The global civil engineering market size is projected to touch USD 13.35 trillion by the year 2027. It is anticipated to grow at a CAGR of 5.4%through the forecast period of 2020-2027. Increasing public-private partnership to promote the investment in infrastructural development in developing nations is anticipated to boost the market growth. Increasing adaptation of improved digital technologies is projected to have a positive influence on imperishable development of civil engineering value chain all around the world. These trends are anticipated to proliferate the nexus of players in the value chain of construction and promote digital conversion process, thereby, propelling the market growth. Many market players are concentrating on using green building materials because of increasing importance of environment friendly products and preservation of energy. Thus, the deflection of the construction segment from using ordinary construction materials to sustainable products, is anticipated to increase the significance of civil engineering for efficiently completing construction projects. The government, public-private partnerships and private contractors are the primary buyers of services provided by the civil engineering industry for developing commercial and residential projects, industrial facilities and infrastructure projects. Rapid increase in the standard of services provided and imposition of regulatory measures in major economies is projected to have a positive impact on the growth of the civil engineering market.
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