Construction Engineering Market Research Reports, Analysis & Trends
Construction engineering industry comprises companies that operate by involving and providing assistance in the matters of engineering and intricate details such as applying physical laws and principles of engineering I the design, development and use of mechanics, structures, materials and instruments, and lastly processes & systems. The major assignments and responsibilities that are given to the engineering team involve a lot of provision of advice, preparation of feasibility studies and preliminary and final plans and designs along with provision of technical services of construction and evaluation of the complete project. This industry players also provide inspection and evaluation services that are most critical to the overall successful completion of project.
The global engineering market is defined through services relating to the application of advanced mathematics, sciences, social sciences, skills, experience and professional knowledge to design and realize practical solutions for clients that could include buildings, structures, equipment, industrial processes, products, civil, environmental and social projects, programs, and other initiatives. Engineering is a broadly-applied term for services rendered to customers in the pharmaceuticals, medical, life sciences, building and construction, architecture, automotive, aviation and aerospace, research and development (R&D), equipment manufacturing, product manufacturing, semiconductor, electronics, defense, specialty chemicals, oil & gas, and utilities industries as well as entire market sectors in government services and energy.
Construction Engineering Industry Trends
According to MarketLine, the world building and engineering industry is expected to expand by over 30% in the five-year period ending 2015 to reach over $3 trillion. Civil engineering is the leading market segment, representing over 50% of the overall construction and engineering industry. Globally, now, Asia-Pacific is the leading region, representing over 35% of the global market. Building and engineering covers a wide range of activities, and includes building design and structural stability, along with technical overview of air conditioning, heating, plumbing, electrical, lighting and ventilation systems. The building and engineering industry encompasses the entire process of building projects from conception and construction right through to site redevelopment. Safety is a key factor in the industry, with engineers and builders seeking to create safe buildings and structures for use in many settings from residential to professional to transport. The overall responsibility of analyzing of fire protection and energy efficiency systems also fall into the category of tasks encompassed in the building and engineering industry.
Structures such as railways and roads must be safe for use, while buildings must comply with safety regulations to avoid electrical and mechanical accidents and to limit the risk of fire. Quality control of materials used, verification of structural design, and adherence to technology and building standards are also factors for which workers within the industry are responsible. Even though there is expected to be a short-term falling off in demand for building and engineering as stimulus-funded projects wind down, this will be offset in the long term by a stronger economic climate. State funding will grow certain market sectors such as the building of roads and railway systems. As personal income grows, demand for residential buildings will rise, while economic recovery will see businesses invest in nonresidential buildings.
Major Construction Engineering Industry Players
Major players in the construction engineering industry include Shanghai Construction Group Co., Ltd, Strabag Se, Vinci, Barratt Developments, and Anhui Conch Cement Co. Ltd.