Leading companies in the architecture market, engineering consulting and other related services include PowerChina, Fluor Corporation, AECOM Technology Corporation, WorleyParsons Limited, McDermott International Inc.
New York, December 29, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Architectural, Engineering Consultants And Related Services Global Market Report 2022″ – https://www.reportlinker.com/p06193727/? utm_source = GNW
, Jacobs Engineering Group Inc., John Wood Group PLC, KBR Inc., Babcock International and WSP Global Inc.
The global market for architects, engineering consultants and related services is expected to grow from $ 1,290.07 billion in 2021 to $ 1,416.90 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 197.31 billion in 2026 at a CAGR of 8.6%.
The market for architecture, engineering consultants and other related services (A, EC and related services) includes sales of A, EC and related services and related goods by entities (organizations, sole proprietorships and partnerships) that provide planning and design support. construction-related companies of all sizes in all industries. Business entities that provide architectural, engineering, and other related services are generally referred to as architectural firms or engineering consulting firms.
Architecture, engineering consultants and related services undertake processes where human capital is the main input. They make the knowledge and skills available to their employees, often on an assignment basis, where one person or team is responsible for delivering services to the client.
The main types of architects, consulting engineers and related services are engineering services, architectural services, surveying and mapping services, geophysical services, laboratory testing services, building inspection services and drawing services. Engineering services are defined as those provided for the system, assembly or deployments of products comparable in material, design and scope to those indicated for this program.
It is used in various applications such as roads, railways, ports, airports, pipelines, electricity and others. The different service providers include large companies and small and medium enterprises.
Western Europe was the largest region for the architects, engineering consultants, and related services market in 2021. North America was the second largest region for the architects, engineering consultants, and contractors market. related services.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The increased demand for certified and environmentally friendly buildings is expected to boost the market for architectural and engineering services. Consumers, state governments and NGOs are working to make residential and commercial buildings more energy efficient and self-sufficient.
Private builders and real estate developers are rethinking projects to meet these requirements, resulting in many benefits such as increased rental and resale value, owner satisfaction, lower operating costs and regional or international recognition. . The US Green Building Council launched the Leadership in Energy and Environmental Design Certification (LEED) program to establish a set of rating systems that define the construction, design and maintenance of residential projects.
LEED-certified buildings have been shown to reduce carbon, energy, waste and water waste by almost 30-97% and operating costs by more, according to a study by the US Green Building Council (USGBC). by 9%.
Architecture and engineering consultants use 5D Building Information Modeling (BIM) to create dynamic building designs that can be modified at later stages of the project. BIM software is a tool used to design buildings and structures, including lighting, HVAC systems, and mechanical, electrical, and plumbing systems.
It can also be used for conflict detection, cost estimation, and security analysis. A 5D Building Information Modeling (BIM) involves the creation of architectural designs that can be modified and customized in real time.
This system collects data from different project teams and helps to collaborate with the entire construction chain, thereby eliminating project delays. For example, construction management company The Korte Company uses 5D BIM technology for project design, planning and cost estimation, enabling faster decision making.
Maharashtra Metro Rail Corporation in the Indian state of Maharashtra is using 5D BIM in its $ 3 billion construction projects to reduce costs and litigation.
The coronavirus disease (COVID-19) outbreak has acted as a constraint on the market for architects, engineering consultants and related services in 2020, with governments globally imposing lockdowns and trade restrictions, limiting thus the need for professional services. COVID-19 is an infectious virus. illness with flu-like symptoms, including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in a decline in economic activity with countries entering a state of ‘containment’ and the outbreak negatively impacting businesses throughout 2020 and until 2021.
However, the architecture, engineering consulting and related services market is expected to recover from the shock during the forecast period as this is a ‘black swan’ event. and not related to persistent or fundamental weaknesses in the market or the global economy.
The countries covered by the market for architecture, engineering consultants and related services are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UNITED ARAB EMIRATES; UK; UNITED STATES; Venezuela; Vietnam.
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