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TBRC’s Construction Engineering Market Research Report investigates how the industry needs to reach almost $3 trillion by 2026, and how to make the most of the growth potential.

LONDON, May 26, 2022 /PRNewswire/ — Asia Pacific was the largest region of heavy construction and civil engineering marketaccounting for 39.6% of the global market in 2021. It was followed by North America, Western Europe and other regions. Going forward, the fastest growing regions in the civil engineering and building construction market will be Africa and Eastern Europewhere growth will be at CAGRs of 16.6% and 7.7% respectively from 2021 to 2026.

The size of the global heavy construction and civil engineering market should go from $1742.92 billion in 2021 for $1921.67 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The growth of the market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and closure of business activities which resulted in operational challenges. The turnover of the heavy construction and civil engineering industry is expected to reach $2733.35 billion in 2026 at a CAGR of 9.2%.

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Competitive landscape in heavy construction and civil engineering market

The global heavy construction and civil engineering market is concentrated, with a large number of players. The top ten competitors in the market accounted for up to 26.89% of the total market in 2021. This is mainly due to the presence of a large number of players who cater to the local population, as the majority of customers use construction services closer to their locations. However, large companies play a leading role in major infrastructure construction projects.

Major players in the heavy construction and civil engineering industry are The China Railway Construction Corporation Limited, China Railway Group Ltd., China Communications Construction Co. Ltd., China State Construction Engineering Co., Ltd., Power Construction Corporation of ChinaVinci SA, Bouygues SA, Strabag SE, Skanska Group, Bechtel Corporation and others.

Growth and Market Opportunity in Heavy Construction and Civil Engineering Market

The main growth potential of the heavy construction and civil engineering market by type will be in the highway, street and bridge construction market, which will gain $375.4 billion global annual sales by 2026.

The main growth potential in the highways, streets and bridges construction market will arise specifically in the roads and highways market, which will gain $283.3 billion global annual sales by 2026.

The heavy construction and civil engineering market size will gain the most in the China to $139.6 billion.

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