The report below gives a good overview of the Spring 2021 M&A activity in the Engineering & Construction Industry Sector. The pandemic made its presence felt cross the engineering and construction market in 2020. This caused the Associated Builders and Contractors’ Construction Confidence Index (CCI) to plummet to 38.1. In a few short months during 2020, the industry lost $60.9 billion in GDP and total jobs decreased to roughly 6.5 million, effectively wiping out two years of GDP gains and four years of job gains. However, by June the CCI rose to 55.1, indicating expansion in sales.
The global construction market data from the Business Research Company’s latest research showed that the market is expected to grow at CAGR of 7.5% from 2021 and reach $15 trillion by 2023. The top ten players constitute about 4.7% of the market. The possible reason for this is that there are large number of small players in E&C industry who cater to customers which are closer to their locations. Despite the impacts due to pandemic, there are reasons to be optimistic for the industry. The industry has applied learnings from the 2008 recession and is positioned to make the best out of 2021.
Read the Entire Spring 2021 Engineering and Construction Report Here