The report below gives a good overview of the Fall 2023 M&A activity in the Engineering and Construction Industry Sector. The global engineering services market is expected to grow by $365.9 billion at a CAGR of 4% from 2023 to 2027, according to a report published by Technavio, primarily driven by industrial automation. Global infrastructure construction output is projected to grow at a CAGR of 6.3% (2023-2027), propelled by public sector spending, especially in the U.S., Europe, and China. The global construction market value is estimated to reach $13.9 trillion in 2037, with China, the U.S., and India contributing 57% of the growth by 2030, collectively adding about $4.5 trillion in value to the global market. Despite a 2.5% contraction in the U.S. construction industry this year, it's expected to grow by 2.6% in 2024, with an average annual growth rate of 5.3% from 2025 to 2027, driven by investments in energy, transportation, housing, and manufacturing. Government initiatives, including a $175 billion investment, are expected to stabilize residential construction and reduce homelessness by 25% by 2025. In August 2023, construction spending in the United States increased by 0.5% from the previous month, reaching a yearly adjusted rate of $1,983.5 billion.
Posted by Dean Durbin.