Engineering construction market experiences growth from urban development and smart city initiatives
The engineering construction market covers civil, industrial, and infrastructure projects. The market growth is fueled by urbanization, industrial expansion, and government initiatives in transportation and energy sectors. Companies operating in this market are adopting advanced construction technologies to optimize project delivery and ensure compliance with environmental standards.
The Engineering, Procurement, and Construction (EPC) market has emerged as a critical segment within the global industrial and infrastructure landscape. EPC contractors are responsible for the complete design, procurement, and construction of projects, providing end-to-end solutions that ensure efficiency, cost-effectiveness, and timely completion. This market spans a diverse range of sectors, including oil and gas, power, renewable energy, transportation, and industrial facilities. The EPC model is increasingly favored due to its ability to deliver complex projects under a single contract, thereby minimizing risk for project owners and ensuring accountability throughout the project lifecycle.
In recent years, the EPC market has witnessed significant growth due…