The Business Research Company Global Civil and Heavy Engineering Construction Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, UK, November 15, 2021 /EINPresswire.com/ – Technological development has been a driving force in the heavy construction and civil engineering market throughout the historic period. Markets such as foundations, structures and exterior building contractors that use technology have benefited from this trend during the historical period. Areas of rapid technological change include smart highways, concrete 3D printing, drone surveying, kinetic roads, “little houses” and solar roads. Due to technological advancements, the demand for better infrastructure has increased and has had a positive impact on the demand for heavy construction and civil engineering.
Asia-Pacific was the largest region in the global heavy construction and civil engineering market, accounting for 37% of the market in 2020. North America was the second region accounting for 27% of the global market. Africa was the smallest region in the global heavy construction and civil engineering market.
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The global heavy construction and civil engineering market size is expected to grow from $ 1.53 trillion in 2020 to $ 1.62 trillion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 2.10 trillion in 2025 at a CAGR of 7%.
Offshore productivity or the productivity of maritime contractors has increased in recent years thanks to better automation and monitoring technologies. This increase in productivity is particularly visible in dredging, land reclamation and offshore construction of oil rigs, and can be attributed to improvements in mechanical technology, automation and better monitoring of projects. offshore construction. For example, in Belgium, home to two of the five largest dredgers in the world, productivity gains for maritime contractors have exceeded productivity figures for the entire construction industry. DEME, a Belgian dredging company, uses the modular construction technique to build an 8.6 km long quay in Singapore, using sealed concrete chambers made in an onshore factory. Productivity gains at sea have significantly reduced dredging costs, making land reclamation more attractive. For example, major marine contractors include Jenkins Marine, Teignmouth Maritime Services, and Edwards Diving Services.
The major players in the global heavy construction and civil engineering market are China Railway Group Ltd; China Railway Construction Corporation Limited; China Communications Construction Croup Ltd, Bechtel Corporation, Power Construction Corp of China.
The TBRC Global Civil & Heavy Engineering Construction Market report is segmented by Type into Utility System Construction, Highway, Street & Bridge Construction, Other Civil & Heavy Engineering Construction, by Size organization in large companies, small and medium-sized companies.
Global Civil and Heavy Engineering Construction Market Report 2021 – By Type (Construction of Utility Systems, Construction of Highways, Streets, and Bridges, Other Civil and Heavy Engineering Construction), By Organization Size (large enterprises, small and medium-sized enterprises), impact COVID-19 And Recovery is part of a series of new reports from The Business Research Company which provides heavy construction and civil engineering market overview, forecast on size and heavy construction and civil engineering market growth for the entire market, heavy construction and civil engineering market segments and geographies, heavy construction and civil engineering market trends, engines of the heavy construction and civil engineering market, constraints, revenues, profiles and market shares of the main competitors.
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