Global Utility System Construction Market Trends And Strategies Of Major Players In The Utility System Construction Market 2021-2030
30 Apr, 2021
The utility system construction market consists of sales of utility system construction services and related goods by entities (organizations, sole traders and partnerships) that construct distribution lines and related buildings and structures for utilities (i.e., water, sewer, petroleum, gas, power, and communication). All structures (including buildings) that are integral parts of utility systems (e.g., storage tanks, pumping stations, power plants, and refineries) are included in this market. The work performed includes new work, additions, alterations, maintenance, and repairs. The utility system construction market is segmented into water and sewer line and related structures construction; oil and gas pipeline and related structures construction and power and communication line and related structures construction.
Global Utility System Construction Market Size And Drivers:
The utility system construction market expected to reach $672.37 billion in 2020 to $713.33 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The market is expected to reach $910.6 billion in 2025 at a CAGR of 6%.
The utility construction market is expected to be driven by rapid growth in emerging markets in the forecasted period.
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Trends In The Global Utility System Construction Market
Utility system construction companies are using advanced technologies such as drones to efficiently manage projects. A drone is an unmanned aerial vehicle (UAV) that is integrated with communication technologies and controlled by a remote. Some of the typical applications of drones in utility system construction include earthwork volume calculations, elevation mapping, and environmental analysis. During the construction, the terrain can change on a daily basis, thus requiring project managers to monitor these changes. Drones are also being used to monitor project progress and help managers in decision making.
Global Utility System Construction Market Segments:
The global utility system construction market is further segmented based on type, end user sector and geography.
By Type: Water And Sewer Line And Related Structures Construction, Oil And Gas Pipeline And Related Structures Construction, Power And Communication Line And Related Structures Construction.
By End User Sector: Private, Public.
By Geography: The global utility system construction market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global utility system construction market, accounting for 39% of the market.
Read More On The Report For The Global Utility System Construction Market At:https://www.thebusinessresearchcompany.com/report/utility-system-construction-global-market-report-2020-30-covid-19-impact-and-recovery
Utility System Construction Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides utility system construction market overviews, analyzes and forecasts market size and growth for the global utility system construction market, utility system construction market share, utility system construction market players, utility system construction market segments and geographies, utility system construction market’s leading competitors’ revenues, profiles and market shares. The utility system construction market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.