Architectural, Engineering Consultants And Related Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022 – 2026
The Business Research Company’s Architectural, Engineering Consultants And Related Services Global Market Report 2022 – Market Size, Trends & Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 18, 2022 /EINPresswire.com/ — Architectural, engineering consultants and related services market trends include consultants using 5D building information modeling (BIM) to create dynamic building designs which can be altered at later stages of the project. A 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 clash detection, cost estimation and safety analysis. A 5D building information modeling (BIM) involves creating architectural designs that can be modified and customized in real time which has changed the architectural, engineering consultants and related services market outlook. This system collects data from different project teams and helps collaborate with the entire construction chain, eliminating project delays. For instance, construction management company The Korte Company is using 5D BIM technology for project design, planning, cost estimation, thereby enabling faster decision making. The Maharashtra Metro Rail Corporation in the Indian state of Maharashtra is using 5D BIM in its construction projects worth $3 billion to reduce costs and litigations.
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The global architectural, engineering consultants and related services market is expected to grow from $1.29 trillion in 2021 to $1.42 trillion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The growth in the architectural, engineering consultants and related services 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 architectural, engineering consultants and related services market is expected to reach $1.97 trillion in 2026 at a CAGR of 8.6%.
The rise in demand for environmentally safe and certified buildings is expected to drive the global architectural, engineering consultants and related services market. The US Green Building Council launched the Leadership in Energy and Environmental Design (LEED) certification program to establish a set of rating systems that define the construction, design and maintenance of residential projects. According to a study by the US Green Building Council (USGBC), LEED certified buildings have managed to reduce carbon, energy, waste and water waste by almost 30-97% and operating costs by more than 9%.
Major players covered in the global architectural, engineering consultants and related services industry are PowerChina, Fluor Corporation, AECOM Technology Corporation, WorleyParsons Limited, McDermott International Inc., Jacobs Engineering Group Inc., John Wood Group PLC, KBR Inc., Babcock International and WSP Global Inc.
Western Europe was the largest region in the architectural, engineering consultants and related services market in 2021. North America was the second largest region in the architectural, engineering consultants and related services market. The regions covered in the architectural, engineering consultants and related services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
TBRC’s global architectural, engineering consultants and related services market analysis report is segmented by type into engineering services, architectural services, surveying & mapping services, geophysical services, laboratory testing services, building inspection services, drafting services, by application into road, rail, port, airport, pipeline, power, others, by service provider into large enterprise, small and medium enterprise.
Architectural, Engineering Consultants And Related Services Global Market Report 2022 – By Type (Engineering Services, Architectural Services, Surveying & Mapping Services, Geophysical Services, Laboratory Testing Services, Building Inspection Services, Drafting Services), By Application (Road, Rail, Port, Airport, Pipeline, Power), By Service Provider (Large Enterprise, Small and Medium Enterprise) – Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a architectural, engineering consultants and related services market overview, forecast architectural, engineering consultants and related services market size and growth for the whole market, architectural, engineering consultants and related services market segments, geographies, architectural, engineering consultants and related services market trends, architectural, engineering consultants and related services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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