Heavy and Civil Engineering Construction Industry Report 2025: $3.15 Tn Market Opportunities and Strategies to 2034 - Africa and Middle East Poised for Strongest Growth
The 'Heavy and Civil Engineering Construction Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the heavy and civil engineering construction market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global heavy and civil engineering construction market reached a value of nearly $2 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 3.92% since 2019. The market is expected to grow from $2 trillion in 2024 to $2.49 trillion in 2029 at a rate of 4.46%. The market is then expected to grow at a CAGR of 4.85% from 2029 and reach $3.15 trillion in 2034.
Growth in the historic period resulted from the investment in renewable power generation capabilities, growing investments in infrastructure, rapid industrialization, increasing public-private partnerships, increased focus on urban planning and development policies and growth in rail infrastructure development. Factors that negatively affected growth in the historic period were high material prices and stringent environmental regulations.
Going forward, increasing electricity demand, development of transportation infrastructure, increasing government support and urban redevelopment will drive the growth. Factor that could hinder the growth of the heavy and civil engineering construction market in the future include lack of skilled workers and infrastructure funding gaps.
Asia-Pacific was the largest region in the heavy and civil engineering construction market, accounting for 37.69% or $754.93 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the heavy and civil engineering construction market will be Africa and Middle East where growth will be at CAGRs of 11.16% and 7.76% respectively. These will be followed by Asia-Pacific and Eastern Europe where the markets are expected to grow at CAGRs of 4.96% and 4.50% respectively.
The global heavy and civil engineering construction market is fairly concentrated, with large players operating in the market. The top 10 competitors in the market made up 28.43% of the total market in 2023. China Railway Construction Corporation Limited was the largest competitor with a 5.80% share of the market, followed by China Railway Group Ltd. with 5.32%, China State Construction Engineering Corporation Ltd. with 4.09%, China Communications Construction Company Limited with 3.14%, Power Construction Corporation of China (PowerChina Corp.) with 3.09%, Skanska AB with 2.73%, Bouygues SA with 1.47%, Hochtief AG with 1.07%, STRABAG Group AG with 0.95% and Kiewit Corporation with 0.77%.
The heavy and civil engineering construction market is segmented by type into utility system construction, highway, street and bridge construction and other heavy and civil engineering construction. The highway, street and bridge construction market was the largest segment of the heavy and civil engineering construction market segmented by type, accounting for 43.60% or $873.4 billion of the total in 2024. Going forward, the highway, street and bridge construction segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by type, at a CAGR of 5.00% during 2024-2029.
The heavy and civil engineering construction market is segmented by organization size into small and medium enterprises and large enterprise. The large enterprises market was the largest segment of the heavy and civil engineering construction market segmented by organization size, accounting for 71.52% or $1.43 trillion of the total in 2024. Going forward, the large enterprises segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by organization size, at a CAGR of 4.60% during 2024-2029.
The heavy and civil engineering construction market is segmented by end user into private and public. The public market was the largest segment of the heavy and civil engineering construction market segmented by end user, accounting for 72.56% or $1.45 trillion of the total in 2024. Going forward, the private segment is expected to be the fastest growing segment in the heavy and civil engineering construction market segmented by end user, at a CAGR of 5.02% during 2024-2029.
The top opportunities in the heavy and civil engineering construction markets segmented by type will arise in the highway, street, and bridge construction segment, which will gain $241.52 billion of global annual sales by 2029. The top opportunities in the heavy and civil engineering construction markets segmented by organization size will arise in the large enterprises segment, which will gain $361.24 billion of global annual sales by 2029. The top opportunities in the heavy and civil engineering construction markets segmented by end user will arise in the public segment, which will gain $334.78 billion of global annual sales by 2029. The heavy and civil engineering construction market size will gain the most in the USA at $77.71 billion.
Market-trend-based strategies for the heavy and civil engineering construction market include strategic partnerships and collaborations among major players, wind-solar hybrid systems to enhance energy output and efficiency, merger and acquisitions to strengthen market position and groundbreaking of innovative nuclear demonstration project.
Player-adopted strategies in the heavy and civil engineering construction market include focus on strengthening business operations through new construction projects and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the heavy and civil engineering construction to focus on expanding hybrid renewable energy capabilities, focus on advancing flexible nuclear energy integration, focus on the highway, street and bridge construction segment, focus on strategic partnerships to expand renewable infrastructure capabilities, expand in emerging markets, provide competitively priced offerings, continue to use B2B promotions and focus on the private market segment for higher growth returns.
Key Attributes:
Major Market Trends
Key Mergers and Acquisitions
Customer Information
Markets Covered:
Key Companies Profiled:
Companies Featured
For more information about this report visit https://www.researchandmarkets.com/r/pkib8s
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KEYWORD:
INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY ENGINEERING CONSTRUCTION & PROPERTY MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2025.
PUB: 07/03/2025 08:36 AM/DISC: 07/03/2025 08:36 AM
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