Utility System Construction Market Report 2021 - COVID-19 Impact And Recovery

The Business Research Company’s Utility System Construction Global Market Report 2021 - COVID-19 Impact And Recovery

LONDON, GREATER LONDON , UK, November 24, 2021 /EINPresswire.com/ -- 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.

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The utility construction market 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. The International Monetary Fund (IMF) predicts that the global GDP growth will be 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. Thus, 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.

Read more on the global utility system construction market report
https://www.thebusinessresearchcompany.com/report/utility-system-construction-global-market-report-2020-30-covid-19-impact-and-recovery

The global utility system construction market size is expected to grow from $672.37 billion in 2020 to $713.33 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%. The growth 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 market is expected to reach $910.60 billion in 2025 at a CAGR of 6%.

Major players covered in the global utility system construction industry are Qwest, American Tower, Mastec, Powerteam Services, Michels.

North America was the largest region in the global utility system construction market, accounting for 39% of the market in 2020. Asia Pacific was the second largest region, accounting for 35% of the global utility system construction market. Africa was the smallest region in the global utility system construction market.

TBRC’s global utility system construction market 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 2021 - 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), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides utility system construction market overview, forecast utility system construction market size and growth for the whole market, utility system construction market segments, and geographies, utility system construction market trends, utility system construction market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Here Is A List Of Similar Reports By The Business Research Company:

Construction Global Market Report 2021 - COVID-19 Impact And Recovery
https://www.thebusinessresearchcompany.com/report/construction-global-market-report

Construction Machinery Global Market Report 2021 - COVID-19 Impact and Recovery
https://www.thebusinessresearchcompany.com/report/construction-machinery-global-market-report

Foundation, Structure, And Building Exterior Contractors Global Market Report 2021 – COVID-19 Impact And Recovery
https://www.thebusinessresearchcompany.com/report/foundation-structure-and-building-exterior-contractors-global-market-report-2020-30-covid-19-impact-and-recovery

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