Shepherd and Nicholson were awarded CBEs in recognition of their years of service to the construction industry through the Construction Confederation and the Construction Industry Council, respectively.
Turlogh O'Brien, a director of Ove Arup & Partners, received a CBE for services to innovation in construction.
CBEs also went to Graham Hawker, chief executive of the Hyder Group, and to James Mason, chairman of regeneration consultancy Enterprise.
Other industry figures to get CBEs included Michael Maine, former group technical director at BAA and Peter Rainbird, chairman of the Essex Training and Enterprise Council.
Architect Richard Feilden, partner of Bath-based practice Feilden Clegg, and Robert Webster, head of the Scott Sutherland School of Architecture in Aberdeen were awarded OBEs.
OBEs also went to Graeme Baker, director of the Building Services Research and Information Association, Hugh Woodrow, former chief executive and secretary of the Association of Consulting Engineers, Pamela Liversidge, for services to the Institution of Mechanical Engineers, and Peter Dale, president of the International Federation of Surveyors.