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.
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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.
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.
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