Engineering Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 2/26/2024
SIC Codes: 7389, 8711
NAICS Codes: 54133, 54134
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Engineering Services Industry Profile

Companies in this industry apply engineering principles to design and develop structures, systems, and processes. Major companies include AECOM, Bechtel, and Jacobs (all based in the US), along with Abengoa (Spain), Babcock and Wood (both based in the UK), SNC-Lavalin (Canada), and Worley (Australia).

Construction spending, particularly in emerging markets, drives global demand for engineering services. Global spending on engineering services is expected to reach about $1.3 billion by 2027 at a growth rate of 3.3%, according to the Business Research Company.

The US engineering services industry includes about 62,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $240 billion.

COMPETITIVE LANDSCAPE

Success in the engineering services industry requires efficient bidding and cost controls. Reduced government and commercial spending on infrastructure and construction projects during times of economic or political discord can diminish bidding opportunities.

Small firms, which can effectively compete with larger ones by having expertise in a particular field or region, are often hired as consultants on larger projects if they have applicable expertise. Large firms are advantaged in designing and managing large projects, but may face challenges on smaller projects in fields where they lack specialization. Consolidation among smaller players is common under flat market conditions. The US industry is fragmented: the 50 largest firms account for about 30% of revenue. Large global players have tended to originate in the US and Europe, but engineering ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu
Add To Cart

Focus Profiles

Complement this Industry Profile by purchasing a Focus Profile. Engineering Services has one Focus Profiles that can help you better understand this industry:


Related Profiles

Here are a few profiles related to Engineering Services that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options