工程与建筑行业报告

Table of ContentsMarket Observations ................................................................................. 3Transaction Highlights .............................................................................. 10Public Companies .....................................................................................13CFA Overview ............................................................................................ 19 Engineering and Construction Industry News | Summer 2025 | Page 2 Market SummaryEngineering and Construction MarketThe global engineering and construction industry is undergoing a transformational shift shaped by rapid technological developments,changing economic dynamics, and an evolving regulatory environment. According to the FMI 2025 Engineering and Construction OverviewReport, the total U.S.Engineering and construction spending is forecastto increase by 2%, which is driven by investments into non-residential segments like water treatment, power infrastructure, and manufacturing facilities. The engineering services market is projectedto grow from $1.1 trillion in 2024 to $1.2 trillion in 2025 with a CAGR of 3.4%. The increasing infrastructure development isdriving theengineering services industry, as cities and economies are growing, leading to the demand for new infrastructure, transportation networks,energy facilities, and smart cities. The recent study by Global Data suggests that the construction output is expected to reboundinthesecond half of 2025 with an average annual growth rate of 2% during the period 2026-2029. The geographic regions of America, Europe,Asia-Pacific, and Middle East Africa (APMEA) are leading the market. The growth is clearly evident in the American market, where the U.S.Bipartisan Infrastructure Law (BIL) and the Infrastructure Investment and Jobs Act (IIJA) continue to drive demand for publicwork projectsandmovesubstantial funds into these sectors. However, the industry faces numerous challenges such as labor shortages and supply chaininstability. As technology adoption is accelerating the growing construction sector, telematics, AI-driven automation, and modularconstruction provide opportunities for infrastructure and commercial development on a larger scale. In conclusion, the engineering andconstruction industry in 2025 is marked by resilience amidst challenges. Strategic investments in technology and infrastructure are drivinggrowth while addressing evolving demands for sustainability and efficiency across global markets.Public Company ValuationThe CFAW Select Engineering Construction Index increased by 14.7% in the second quarter of 2025 and the 12-month return on the index also increased by 4.4%. Highway, Street and Bridge Construction Index had thehighest median EBITDA multiple of 14.8x and the highest revenue multiple of 1.3x respectively. ResidentialConstruction Index had the lowest median EBITDA multiple of 7.5x and Industrial Building Construction Indexhad the lowest median revenue multiple of 0.7x respectively.The Residential Construction Index had arevenue multiple of 1.0x andtheIndustrial Building Construction Index had an EBITDA multiple of 11.5xrespectively. Civil Engineering Services index had an EBITDA multiple of 14.0x and a revenue multiple of 1.1xrespectively.Mergers and AcquisitionsThe mergers and acquisitions (M&A) activity is undergoing a rapid transformation in 2025 from the previous year. Companies arefocusing on deals that enhance operational efficiencies and give access to advanced technologies such as cloud services, using AI in duediligence, and a shift towards vertical integration. The shortage of houses worldwide is compelling companies to make acquisitions togain capabilities to address the increase in demand, specifically in the European and U.S. markets. The high-growth sectors like datacentres, renewable energy initiatives, and healthcare complexes are gaining increased M&A investments.. Engineering and Construction Industry News | Summer 2025 | Page 4The publicengineeringconstruction marketincreased in the firsthalf of 2025... Industry TrendsRise in AI Integration and Digital TransformationThe Engineering andConstructionindustry is embracing cutting-edge technologies like Generative AI, Building Information Modeling (BIM), and Digital Twins to make projectsmore efficient and accurate.The global BIM market is projected to grow from $9.9 billion in 2025 to $19 billion by 2030 with a CAGR of 14%. The AI-driven BIM models areuseful for design optimization and real-time analytics that identify potential failures in the machinery while streamlining the production lines and construction processes. TheInternet of Things (IoT) is revolutionizing the way devices communicate and monitor structural patterns of industrial automation. The incorporation of Digital Twins (virtualrepresentation of physical assets) allows for real-time tracking and predictive analytics, reaching operations and maintenance. The effect of AI