Industry Analysis & Industry Trends
China's rapid economic growth in recent decades created a major market for engineering services, while reforms in the science and technology system promoted the commercialization of technology. As a result, engineering consultancy firms have become vitally important to modern economic development.
In 2015, revenue for the Engineering Services industry is estimated to reach $28.9 billion, up 4.1% over 2014. Revenue growth is expected to slow compared with previous years due to the slow building and civil engineering construction output value during the year. In the five years through 2015, industry revenue has been increasing at an annualized rate of 5.6%.
China's construction and civil engineering industries grew consistently over the past several years.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Engineering Services industry has a low concentration level. This is due to the large number of small and medium-sized enterprises. The top four firms that operate in the industry account for about 12.7% of industry revenue in 2015. Industry revenue is spread across a large number of industry participants.
Many engineering services firms operate on a small scale and are privately owned due to low-to-moderate barriers to enter the industry. However, the majority of these companies service narrow fields and lack advanced technologies and highly skilled employees.
The low concentration level also reflects the diverse nature of the industry's services. Firms tend to focus on particular professional services or markets... purchase to read more