The Utility System Construction Market Players Focus On Efficient Project Management By Utilizing Advanced Technologies

The Business Research Company’s Utility System Construction Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 17, 2022 /EINPresswire.com/ — Utility system construction industry trends include companies 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.

The global utility system construction market size is expected to grow from $706.06 billion in 2021 to $775.82 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The utility system construction market is expected to reach $1084.28 billion in 2026 at a CAGR of 8.7%.

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https://www.thebusinessresearchcompany.com/report/utility-system-construction-global-market-report

The utility system construction market growth is expected to be driven by rapid growth in emerging markets in the forecasted period. Emerging markets growth was aided by rising disposable income, stable political environment and increasing foreign investments in these countries. According to the International Monetary Fund (IMF) report, the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. According to TBRC’s utility system construction market forecast report, strong economic growth boosted construction demand in emerging markets such as China, India, Brazil, Saudi Arabia, and Indonesia, thereby driving the market during forecast period.

Major players covered in the global utility system construction industry are China Railway Construction Corporation Limited, China Energy Engineering Group, PowerChina, Power Construction Corporation of China, China State Construction Engineering Corporation Ltd.

TBRC’s global utility system construction market analysis report is segmented by type into 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 into private, public.

Utility System Construction Global Market Report 2022 – 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) – Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a utility system construction market overview, forecast utility system construction market size and growth for the whole market, utility system construction market segments, geographies, utility system construction market trends, utility system construction market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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