The Europe civil engineering market size is estimated to be USD 2,412.9 billion by 2025, according to a new report by Million Insights. The market is likely to register a CAGR of 2.7% over the forecast duration. Rising investment in research and development activities in order to construct energy-efficient construction using technologies like prefabricated modules is expected to propel the market growth.
Factors such as increasing population owing to increasing immigration and growth in renovation activities across the U.K are anticipated to drive the growth of the market. Further, new housing projects and construction of healthcare infrastructure are predicted to fuel the market growth across Europe.
Use of innovative construction techniques and easy availability of raw materials further strengthen the growth prospect of the industry. Innovative techniques like pre-fabricated and advance machinery are widely deployed in the construction of different projects. Additionally, software such as 3D home architect, MS office, AutoCAD and STAAD Pro is ensuring efficient design, thereby, boosting the market growth.
Owing to falling crude oil prices, which resulted in the economic crisis in Europe, the Russian market is witnessing slow growth. However, the number of ongoing projects in different European nations offer a lucrative opportunity for the industry players to capitalize.
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Further key findings from the report suggest:
• In 2018, planning & design segment held a 20.4% share by revenue in the market, primarily because of its growing importance in construction sectors.
• Infrastructure category is likely to register a CAGR of 3.4% over the forecast duration due to rising private and public investment.
• In 2018, the government division accounted for 39.4% of the market share owing to favorable initiatives and increasing investment in non-residential construction activities.
• The Europe civil engineering market is categorized by the presence of several established players, thus, making the entry for new players tough.
Million Insights has segmented the Europe civil engineering market on the basis of services, application, customers, and region:
Europe Civil Engineering Services Outlook (Revenue, USD Million, 2014 - 2025)
• Planning & Design
Europe Civil Engineering Application Outlook (Revenue, USD Million, 2014 - 2025)
• Real Estate
Europe Civil Engineering Customers Outlook (Revenue, USD Million, 2014 - 2025)
Europe Civil Engineering Region Outlook (Revenue, USD Million, 2014 - 2025)