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 2014, revenue for the Engineering Services industry is estimated at $27 billion – up 4.8% due to the steady growth of macro-economy and expected rapid growth of building and civil engineering construction output value during the year. In the five years through 2014, 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 SWOT Analysis Chapter
The industry is in the mature phase of its life cycle. Industry value added is expected to increase at an annualized 5.2% between 2009 and 2019. This is lower than the estimated average GDP growth rate of about 7.3% per year.
Enterprise numbers have been increasing at an annualized 0.8% during the five years through 2014. This reflects the growing number of engineering companies and demand for the industry's services.
Technological changes and innovations are relatively frequent in the industry. This has contributed to the development and expansion of domestic engineering services providers.
Domestic and foreign markets still have strong demand for engineering and project planning management services... purchase to read more