About Engineering Services
The global engineering services market covers all the engineering operations including building construction, transportation, water, waste & sewer treatment, energy & power, transportation, and other services. Additionally, Engineering services are the use of education, training, and experience to solve complex engineering problems through consultation, investigation, and evaluation. The processes included in the engineering services can be used in designing and developing materials, machines, structures, instruments, others processes, and systems. The expansion of the global economy, as well as rapid growth in industrialization, will escalate the demand for global engineering services. Global Engineering services market will boost due to increasing demand in the automation industry. There is various type of engineering services such as Civil, Environmental, Construction, Mechanical, and Other Engineering Services. Application of engineering services including manufacturing, aerospace and defense, semiconductor, consumer electronics industries and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Engineering Services is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Engineering Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AECOM (United States), Bechtel (United States), Fluor (United States), Jacobs (United States), SNC-Lavalin (Canada), WorleyParsons (Australia), Balfour Beatty (United Kingdom), Laing O' Rourke (United Kingdom), Kiewit Corporation (United States), Hochtief (Germany) and ACS Group (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Aviall Services (United States), Darbonne (United States) and TK Services (United States).
Segmentation Overview
AMA Research has segmented the market of Global Engineering Services market by Type (Civil Engineering Services, Environmental Engineering Services, Construction Engineering Services, Mechanical Engineering Services and Other Engineering Services) and Region.
On the basis of geography, the market of Engineering Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Automotive will boost the Engineering Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase Acceptance of Predictive Analysis and Unstable Global Macro-Economic Conditions
Market Growth Drivers:
Increasing Engineering Automation and Adoption of Engineering Services in Industrial and Verticals
Challenges:
Lack of Process Control
Restraints:
Lack of end-to-end Quality
Opportunities:
Propagation due to Innovative Technologies
Market Leaders and their expansionary development strategies
In October 2023, SSOE Group, an internationally ranked architecture and engineering firm, is delighted to announced the successful acquisition of Santa Clara, California-based Integrated Engineering Services (IES), This strategic move marks a significant step forward for both organizations, ushering in a new era of expanded capabilities and enhanced service offerings for our valued clients.
In September 2023, the global leader in delivering complex engineering services and solutions, launched Virtual ISTA 6 (VI-6™) in the fall of 2023. VI-6 is a self-service platform that allows packaging engineers to test package designs in a virtual environment.
Key Target Audience
Engineering Services Manufactures, Engineering Services Supplier/ Distributor/ Retailer, End Users of Engineering Services, Market research and consulting firms, Private Research Institutes, Government Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.