Europe Civil Engineering Market Competitive Landscape, Financial Performance & Forecast

Felton, Calif., USA, July. 30, 2021 — /EPR Network/ —

The Europe Civil Engineering Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

• Mytilineos Holdings
• Skanska AB
• John Wood Group PLC
• AykaBau GmbH
• Nordic Construction Company (NCC) AB
• Koninklijke BAM Groep (Royal BAM Group)
• Ferrovial
• Eiffage
• STRABAG Group
• Balfour Beatty plc

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Growth Drivers:

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.

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.

Regional Outlook:

Across Europe, the construction sector occupies a significant share in the GDP. With the rising residential sector in countries such as U.K, France and Germany, the civil engineering market in Europe is projected to witness significant growth over the forecast duration. Growing focus on renovation is a key factor attributing to the growth of the market in the region.

U.K civil engineering market is likely to register significant growth owing to increasing construction projects and renovation activities in sectors like transport buildings, online retailing warehouse, resorts and restaurants. With the imposition of several initiatives such as Energy Company Obligation (ECO), the government has mandated stakeholders to reduce the overall emission of carbon, which, in turn, is expected to bode well for the growth of the renovation activities in the region.

France, because of the development of major infrastructure projects, is anticipated to witness considerable growth in the civil engineering market. For instance, the projects named Asyel Arena, a sports arena with 10,500 seats along with over 2,000 square meters for shops and project HexagoneBalard to create a new office of the defense ministry of France are predicted to offer a lucrative opportunity for the growth of the civil engineering market.

Impact of COVID-19

Europe construction sector is severely affected due to outbreak of COVID-19.  According to the European Construction Industry Federation (FIEC), construction companies have suffered heavy financial loss owing to their inability to continue with construction projects. The European Union construction sector called European Commission to designate the outbreak of coronavirus as a ‘force majeure’, which will help construction firm to avoid penalties in case of breach of contract amid crisis.

However, the construction sector is expected to play an important role in the GDP recovery of European countries once normalcy returns. As lockdown measures have been eased across Europe, the construction sector is recovering faster than several other sectors. Additionally, construction projects are expected to continue as following the social distancing norms is relatively easy in this sector. Thus, resumption of several construction projects is expected to supplement the Europe market growth of civil engineering.

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