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.
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.
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.
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.
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.
Table of Contents
1 Executive Summary
6 Market Characteristics
8 Supply Chain Analysis
9 Customer Information
10 Major Market Trends
11 Heavy and Civil Engineering Construction Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Global Heavy and Civil Engineering Construction Market Segmentation
14 Heavy and Civil Engineering Construction Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 South America Market
20 Middle East Market
21 Africa Market
22 Competitive Landscape and Company Profiles
23 Other Major and Innovative Companies
26 Key Mergers and Acquisitions
27 Opportunities and Strategies
28 Heavy and Civil Engineering Construction Market, Conclusions and Recommendations
29 Appendix
Executive Summary
Heavy And Civil Engineering Construction Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global heavy and civil engineering construction market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for heavy and civil engineering construction? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The heavy and civil engineering construction market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider heavy and civil engineering construction market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by organization size and by end user.
- Product Analysis- The product analysis section of the report describes the leading products in the heavy and civil engineering construction market, along with key features and differentiators for those products.
- Supply Chain- The supply chain section of the report defines and explains the key players in the heavy and civil engineering construction industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global heavy and civil engineering construction market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the heavy and civil engineering construction market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by organization size and by end user in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Future Outlook And Potential Analysis- Contains information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Utility System Construction; Highway; Street And Bridge Construction; Other Heavy And Civil Engineering Construction2) By Organization Size: Large Contractors; Medium Contractors And Small Contractors
3) By End User: Private; Public
Key Companies Mentioned: 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.)
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; heavy and civil engineering construction indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- 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 & 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
- 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 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
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 480 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 2 Trillion |
| Forecasted Market Value ( USD | $ 3.2 Trillion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 88 |
