The Utility System Construction Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2030. The Utility System Construction market report is a valuable source of data for business strategists. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This Utility System Construction Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Top Companies in the Global Utility System Construction Market:
Qwest; American Tower; Mastec; Powerteam Services; Michels
The global utility system construction market is expected to decline from $714.4 billion in 2019 to $702.1 billion in 2020 at a compound annual growth rate (CAGR) of -1.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $832.8 billion in 2023.
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The North America was the largest region in the global utility system construction market, accounting for 39% of the market in 2019. The Asia Pacific was the second largest region accounting for 34% of the global utility system construction market. Africa was the smallest region in the global utility system construction market.
Construction companies are deploying the Industrial Internet of Things (IIoT) to construct refineries with increased production capacity and superior worker safety in the oil and gas industry. IIoT is a network of connected devices and infrastructure that uses IoT technologies to automate and enhance manufacturing and industrial processes. Refineries are being constructed with IoT technologies that integrate advanced analytics software with sensor devices to offer complete automation and oversight, create real-time insights, and minimize the risk of human error. For instance, Texmark Chemicals, a toll and contract manufacturer, teamed up with Hewlett Packard Enterprise (HPE) to modernize its petrochemical plant and build a refinery with IIoT capabilities to create a next-generation plant with improved process analytics, up-time, customer satisfaction, and worker safety.
The utility system construction market consists of the sales revenues earned 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.
1) 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
2) By End User Sector: Private; Public
Regions are covered By Utility System Construction Market Report 2020 To 2030.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
The report has 150 tables and figures browse the report description and TOC
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Utility System Construction Market
-Changing the Utility System Construction market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Utility System Construction market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of the Utility System Construction Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
Frequently Asked Questions about Utility System Construction market:
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The Industrial Outlook Report is an online product, which gives you dynamic features not available in printed materials, including access from any internet location and quarterly updates (if subscribed to). Also, market statistics are now available as easily downloaded graphs and CSVs, which allow the data to be used to best serve your specific needs.
How do we provide a well-qualified forecast?
Our forecast model uses detail captured in our database, which includes future spending events and summarizes them to form a bird’s eye view of the market. Our modeling captures total demand/supply for the market, using historical and future projects intelligence, including statistical modeling of leading economic indicators.
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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