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Engineering and Construction – Europe Industry Guide
Building Engineers apply engineering principals and technology in building design and construction. Advancement in the home building and construction sector is essential for economic growth in Europe. Previously, Europe was plagued with several problems such as housing shortages, poorly constructed and maintained housing stock, and lack of adequate financing. However, times are changing now for European countries and more growth is expected across Europe in the engineering and construction industry.
The recent boom in the construction industry across Europe has generated huge revenues and the industry reportedly generated revenues of over $764.1 million showing a compound annual growth rate (CAGR) of 3.9%. In 2008, the homebuilding industry across Europe generated total revenues of $1,165 billion annual growth rate (CAGR) of 14.2%. In Addition, the construction materials market generated total revenues of $97.6 billion in 2008, representing a compound annual growth rate (CAGR) of 3.4% for the years 2004-2008.
Tourism has led to a major growth in the hotel industry across Europe as more and more hotel construction projects have been undertaken to meet the high number of tourists visiting Europe per year. However, some countries across Europe lack in affordable housing and office space, building and renovation of commercial developments such as shopping malls and business centers. Despite the fact commercial construction projects attracts foreign investment which results in an economic boom, with lack of office space, foreign companies hesitate in doing business and prefer to open branch offices in other countries.
While, some European countries have a rather sluggish growth in their residential market despite the fact that housing is in short supply, growth in the industry is slow. Overall though, the European construction and engineering industry has experienced a boom and has generated huge revenues mostly due to luxury home builders, custom home builders, and new home construction projects. Recently Europe has initiated new training centers that offer courses in building and construction skills that offer four-month apprenticeship for those who have no background in building and construction but are eager to learn those skills. Further information regarding building engineers is available online on SearchMe4 business directory.
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