Construction Risk Consulting Market Report 2025

The construction risk consulting market size has grown strongly in recent years. It will grow from $7.78 billion in 2024 to $8.46 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth observed during the historic period can be credited to the rise in construction insurance claims, heightened project complexity, expansion of urban infrastructure, higher rates of project delays, and increased environmental impact assessments.

The construction risk consulting market size is expected to see strong growth in the next few years. It will grow to $11.68 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period is driven by the growing adoption of digital construction tools, an increase in public-private partnerships, heightened investor scrutiny, greater demand for real-time project monitoring, and expansion in construction financing. Key trends expected during the forecast period include the use of artificial intelligence for risk prediction, integration of building information modeling, digital twin technology, blockchain to enhance contract transparency, and cybersecurity solutions to protect construction data.

The increasing number of mega-projects is expected to drive the growth of the construction risk consulting market moving forward. Mega-projects are large-scale infrastructure initiatives typically valued at over $1 billion, involving multiple stakeholders, complex regulatory frameworks, and substantial financial risks. The rise in mega-projects is driven by the demand for extensive infrastructure to accommodate urbanization, motivating governments and private entities to develop major transportation, energy, and smart city projects to address growing urban needs. Construction risk consulting helps ensure these mega-projects remain on schedule and within budget by proactively identifying, quantifying, and mitigating complex risks before they turn into costly delays or disputes. For example, in February 2024, a report by ConstructConnect, a US-based software company, indicated that the upward trend in mega-projects (valued above $1 billion) continued through 2023, with their total value remaining stable compared to 2022. Consequently, the growth of mega-projects is propelling the expansion of the construction risk consulting market.

Leading companies in the construction risk consulting market are emphasizing the development of innovative solutions, such as construction risk advisory services, to improve project delivery reliability and reduce financial and operational risks across construction projects. Construction risk advisory services involve professional support to help clients identify, evaluate, and manage potential risks in construction projects, thereby enhancing safety, cost management, and project outcomes. For instance, in March 2022, Turner Construction, a US-based construction services firm, introduced a risk management consultancy service designed to assist clients with thorough risk assessments, mitigation strategies, and project continuity planning within the construction industry. This service utilizes Turner’s proprietary data models, industry benchmarks, and on-site risk audits to proactively detect safety, financial, and scheduling risks, providing tailored mitigation plans suited to each project’s size and complexity. It also includes scenario-based modeling to prepare clients for possible delays, regulatory challenges, or supply chain issues, ensuring project resilience and budget compliance. The service aims to minimize claims, strengthen site safety culture, and enhance overall project predictability, thereby supporting clients in managing complex construction portfolios amid today’s volatile conditions.

In January 2025, Baker Engineering and Risk Consultants Inc., a US-based process safety and risk management consulting firm, acquired Haines Fire and Risk Consulting LLC for an undisclosed sum. This acquisition enables BakerRisk to broaden its fire protection engineering and risk consulting offerings by incorporating Haines Fire and Risk’s expertise in fire protection design, hazardous area classification, and risk analysis. Haines Fire and Risk Consulting LLC is a US-based firm specializing in fire protection engineering and construction risk consulting.

Major players in the construction risk consulting market are Chubb Limited, PricewaterhouseCoopers LLP, Zurich Insurance plc, CBRE Group Inc., Boston Consulting Group Inc., HDI Global SE, Bain & Company Inc., Baker Tilly US LLP, FTI Consulting Inc., Rider Levett Bucknall Ltd., Lockton Companies LLC, American International Group Inc. (AIG), Turner & Townsend Partners LLP, LEK Consulting LLC, Conner Strong & Buckelew Companies Inc., J.S. Held LLC, AEI Consultants, Baker Engineering and Risk Consultants Inc., Spire Consulting Group LLC, and Red Brick Consulting Inc.

North America was the largest region in the construction risk consulting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in construction risk consulting report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the construction risk consulting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.

Construction risk consulting involves specialized professional services focused on identifying, assessing, mitigating, and managing potential risks throughout the entire lifecycle of construction projects. These services generally encompass desktop reviews, on-site audits, loss scenario assessments, contractual risk transfer analysis, and claims support.

The primary categories of construction risk consulting include contract review, project evaluation, risk control, and others. Contract review entails the examination and analysis of contracts to identify, manage, and minimize potential risks before and during project execution. Key service areas cover sustainability and green building, technology integration, supply chain management, quality assurance, and health and safety management. The various applications consist of real estate development, infrastructure construction, among others, and serve multiple end users such as public sector clients, private sector clients, real estate developers, insurance companies, and not-for-profit organizations.

The construction risk consulting market research report is one of a series of new reports that provides construction risk consulting market statistics, including construction risk consulting industry global market size, regional shares, competitors with a construction risk consulting market share, construction risk consulting market segments, market trends and opportunities, and any further data you may need to thrive in the construction risk consulting industry. This construction risk consulting 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 construction risk consulting market includes revenues earned by entities through risk assessment, project risk management, safety and regulatory compliance consulting, insurance advisory, and claims management services. 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 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.

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