Global Engineering Services Industry Market Research Report Now Available from IBISWorld

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The Global Engineering Services industry's performance is principally driven by trends in construction, manufacturing and mining developments (particularly in the large industrial economies) and increasingly from work in the fields of technological development and the sustainable environment. Global Engineering Services is one of the largest professional service industries. For these reasons, industry research firm IBISWorld has added a report on the Global Engineering Services industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Stronger global economic growth and construction activity is forecast to support industry revenue growth over the five years through 2017.

The global market for engineering services consists of the work performed by consultant engineering firms along with the in-house services undertaken by construction contractors, manufacturers, government agencies and utility owners. The industry's performance is principally driven by trends in construction, manufacturing and mining developments (particularly in the large industrial economies) and increasingly from work in the fields of technological development and the sustainable environment. Global Engineering Services is one of the largest professional service industries, generating revenue of about $530 billion in 2012 (up 2.0% on the previous year), and employing 2.9 million people, according to IBISWorld industry analyst Anthony Kelly.

Following record investment into infrastructure projects and manufacturing capacity during the mid-2000s, the demand for engineering services deteriorated with the onset of severe recession in the largest developed economies during the late 2000s. Global Engineering Services industry revenue is estimated to average subdued growth by an annualized 0.5% over the five years through 2012, lagging well behind the pace of world GDP growth (4.4%), Kelly says. However, industry growth is commensurate with the weak growth in the value of global construction (0.3%) and the subdued or negative GDP growth evident in the largest economies (United States, Japan and the European Union).

Stronger global economic growth and construction activity is forecast to support industry revenue growth over the five years through 2017. The industry has a low degree of ownership concentration. The industry has a fragmented structure and contains many small-scale establishments that confine their operations to national or regional markets, or to the delivery of a narrow range of specialized services. The bulk of firms are very small-scale establishments employing fewer than five people while few firms employ more than 100 people. Despite this low concentration, there has been a trend over the past decade for the consolidation of the operations of many of the world's leading consulting engineering firms, through mergers or strategic alliances. These large-scale, multidisciplined, multinational companies are well placed to win contracts in most markets. For more information, visit IBISWorld’s Global Engineering Services industry report page.

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IBISWorld industry Report Key Topics

Establishments in this industry apply physical laws and principles of engineering in the design, development and use of machines, materials, instruments, structures, processes and systems. The assignments may involve the provision of advice, preparation of feasibility studies, preparation of preliminary and final plans and designs, the provision of technical services on construction and project evaluation.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
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