The global construction engineering services outsourcing market size was valued at USD 1.62 Trillion in 2022 and is likely to reach USD 11.73 Trillion by 2031, expanding at a CAGR of 24.6% during 2023 – 2031. The growth of the market is attributed to the rise in demand for engineering services outsourcing (ESO) in the field of construction. Furthermore, as the infrastructural development is vital in all business and industries is also boosting the market.
The construction engineering services outsourcing market has experienced a considerable shift, from obtaining on-site services to focusing on technologically advanced reformation phases, delivery, and designing The pace of adoption of technology in the civil industry is been relatively slower than other industries. Whereas, the constant dedication by the ESPs, to acquire a competitive upper hand over their competitors, has caused the involvement of technologically improved solutions into the services offered. The example of this is the use of 3D visualization techniques and Augmented Reality (AR) to prepare prototypes of the infrastructure that will help to strengthen the drawings as well as appeal an end customer in the imitation of structural changes.
The civil industry is highly diversified, where the service providers are accounted for designing and constructing warehouses, malls, hospitals, housing, laboratories, retail stores, and various other facilities. Additionally, the participants are also responsible for building infrastructure and public utilities such as rails, dams, roads, and sewages. The green construction emphasis on lowering the carbon footprint at manufacturing of any infrastructure, is another factor propelling the construction engineering services outsourcing market.
The widespread service portfolios of the ESPs contains digitally advanced solutions which provides faster project execution at a great level of accuracy. The collaboration of agile technologies such as Big Data, 5G, Artificial Intelligence (AI), Internet of Things (IoT), and connected sensors has given rise to the concept of smart city to level up the ease of living for the urban people. The advanced urban environments are anticipated to put forward the need for civil ESPs to help the end customers with accurate solutions featuring advanced capabilities.
Market Trends, Drivers, Restraints, and Opportunities
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The increasing funding in infrastructure manufacturing, by both emerging and developed economies, has boosted the growth of construction engineering services outsourcing market.
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The advancement and high usage of digital transformation technologies is propelling the demand for construction engineering services outsourcing during the forecast period.
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Government initiatives for the betterment of construction process and reduction in cost and pollution is a key driver for the market.
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High preliminary cost for the construction is a major restraint for the market.
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The growing environmental concerns along with strict norms applied by regulatory bodies and governments around the globe, for conservation of environment while constructing a new infrastructure are demonstrating huge opportunities for the market to grow in the near future.
Scope of the Report
The report on the global construction engineering services outsourcing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Construction Engineering Services Outsourcing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Enventure Engineering LLP; Citec Oy Ab; Bechtel Corporation; and Mott MacDonald
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Market Segment Insights
Region is anticipated to constitute a key market share
In terms of regions, the global construction engineering services outsourcing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America market is anticipated to constitute a major market share. This is attributed to the advanced technology in the region. Presence of highly skilled professionals, favorable government policies, and heavy investments by the market players is propelling the market in the region.
Asia Pacific market is estimated to show significant development in the near future. This is because of the high number of constructional activity in the region. The developing countries such as China and India are the major market propeller in the market. The high population of the region and high number of constructions in the region is boosting the market for significant growth.
Segments
The global construction engineering services outsourcing market has been segmented on the basis of
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Enventure Engineering LLP
- Citec Oy Ab
- Bechtel Corporation
- Mott MacDonald
Competitive Landscape
The key players in the global construction engineering services outsourcing market are Enventure Engineering LLP; Citec Oy Ab; Bechtel Corporation; and Mott MacDonald. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.
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