Heavy and Civil Engineering Construction Global Market Report 2024

The heavy and civil engineering construction market size has grown steadily in recent years. It will grow from $1953.67 billion in 2023 to $2036.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The expansion observed in the historical period can be credited to the development of emerging markets, a low-interest-rate environment, advancements in technology, and strategic collaborations.

The heavy and civil engineering construction market size is expected to see steady growth in the next few years. It will grow to $2420.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The anticipated growth in the forecast period can be ascribed to the increasing growth of the population, escalating urbanization, augmented infrastructure development, rapid industrialization, and heightened government initiatives. Notable trends in the forecast period include the utilization of 3D printing technologies for cost reduction and enhanced efficiencies, the integration of drone technology to efficiently map large areas over extended distances, generating valuable aerial heat maps and thermal images.

The growth of the heavy and civil engineering construction markets is being propelled by the increasing economic growth. Economic growth signifies the expanding capacity of an economy to produce goods and services over time. The construction sector, which includes civil engineering construction, plays an active role in contributing to economic growth through advancements in infrastructure, job creation, government contracts, and improvements in productivity. As an illustration, in September 2023, the Bureau of Economic Analysis, a US-based government agency, reported a 2.4% increase in real GDP during the second quarter of 2023 in the United States, showcasing improvement from the 2.0% growth observed in the previous quarter. Consequently, the ongoing economic growth is expected to drive the growth of the heavy and civil engineering construction markets.

The increasing material costs are contributing to the rise in heavy and civil engineering construction expenses. Companies in the industry are facing challenges in profit growth due to elevated prices of materials, including crude oil, a crucial component of asphalt, which increased by 58% in 2021 compared to the year 2020. According to the latest Producer Price Index (PPI) from the Bureau of Labour Statistics in the US, prices paid for items used in residential construction rose by 1.7% in April 2021 and increased by 12.4% over the last 12 months. The National Association of Home Builders (NAHB) reported a 6.5% jump in softwood lumber prices in April 2021, marking a new high for the third consecutive month, with lumber prices rising by 52.0% since November 2020. The high prices of materials are anticipated to have adverse effects on the heavy and civil engineering construction markets in the forecast period.

Leading companies in the heavy and civil engineering construction market are actively developing innovative products, including user-friendly building construction software, to establish a competitive advantage in the industry. Construction building software is a specialized type of software designed to facilitate the management of construction projects by assisting with tasks such as project planning, scheduling, budgeting, and communication. As an illustration, in April 2023, Topcon Positioning Systems Inc., a Japan-based provider of positioning technology, introduced the Digital Layout. This software aims to provide a distinct competitive edge in the dynamic building construction industry, catering to various contractors, including general contractors, concrete contractors, mechanical, electrical, and plumbing (MEP) contractors, steel erectors, fire suppression companies, and more. The cost-efficient building construction field software is compatible with a 3D laser, the Topcon LN, or a Topcon GT robotic total station, offering a step-by-step guide to streamline routines and workflows, making it accessible for both first-time and experienced users of digital layout technology.

Major companies engaged in the heavy and civil engineering construction market are driving profitability through product innovation, exemplified by the introduction of the 20-ton PC200-10M0 hydraulic excavator. Specifically designed for urban civil engineering work, these hydraulic excavators boast optimal specifications tailored for such projects. For example, in September 2021, Komatsu, a Japan-based manufacturing company, launched the PC200-10M0 CE. These excavators feature a robust machine frame and sturdy key components crafted by Komatsu, showcasing exceptional durability validated through field testing. Additionally, they offer improved fuel efficiency and affordability, resulting in reduced operational costs and an overall enhancement of profitability.

Major companies operating in the heavy and civil engineering construction market report are China Railway Construction Corporation Limited, China Railway Group Ltd., China Communications Construction Co. Ltd., China State Construction Engineering Co. Ltd., Power Construction Corporation of China, Vinci S.A., Bouygues S.A., Strabag SE, Skanska Group, Bechtel Corporation, Anant Raj Industries Limited, B Seenaiah & Company (Projects) Ltd (BSCPL), Consolidated Construction Consortium Ltd (CCCL), East Coast Constructions and Industries Ltd., Lendlease Group, Laing O’Rourke Australia, 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, Interserve, Morgan Sindall, Roads Of Russia, Llc Aecon, Altaca, Enka, Magnet Construction Company, Renaissance Construction, Esta Construction, Etalon Group, Llc Stroygazmontazh, Fluor Corporation, Granite Construction, Kiewit Corporation, 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, 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, Arabian Bemco Contracting Co., 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.

Asia-Pacific was the largest region in the heavy and civil engineering construction market in 2023. North America was the second-largest in the heavy and civil engineering construction market. The regions covered in the heavy and civil engineering construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the heavy and civil engineering construction market report are Australia, China, 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. The heavy and civil engineering construction market includes revenues earned by entities by water and sewer line and related structures construction, oil and gas pipeline and related structures construction, power and communication line and related structures construction, roads and highways, bridges and tunnels, other highway, street, and bridge construction, marine and ports construction, rail road construction, and sea wall construction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The primary categories within heavy and civil construction encompass utility system construction, highway, street, and bridge construction, as well as other segments of heavy and civil engineering construction. The construction activities associated with the development of distribution lines, along with relevant buildings and infrastructure for utilities such as water, sewer, petroleum, gas, power, and communication, fall under the umbrella of utility system construction. This entails all structures, including buildings, that play integral roles in utility systems, such as storage tanks, pumping stations, power plants, and refineries. Companies engaged in heavy and civil construction are categorized into large enterprises and small to medium-sized enterprises. These services cater to the needs of both the private and public sectors.

The heavy and civil engineering construction market research report is one of a series of new reports that provides heavy and civil engineering construction market statistics, including heavy and civil engineering construction industry global market size, regional shares, competitors with a heavy and civil engineering construction market share, detailed heavy and civil engineering construction market segments, market trends and opportunities, and any further data you may need to thrive in the heavy and civil engineering construction industry. This heavy and civil engineering construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.