Industry Analysis & Industry Trends
The Global Engineering Services industry is one of the largest professional service industries, generating revenue of about $543.0 billion in 2013 with 2.9 million employees. The global market for engineering services consists of the work performed by consultant engineering firms, small nonemployer firms and some in-house services undertaken by construction contractors. The industry's performance is principally driven by the trends in construction, manufacturing and mining developments and increasingly from work in the fields of technological development and sustainability.
Overall industry growth during the past five years has been subdued as a result of a 4.6% decline in 2009 as demand for services deteriorated following the onset of severe global recession... read more
Industry Key Buyers
The industry has a low degree of market share concentration, with the four largest companies contributing about 16.3% of annual industry revenue. The industry has a fragmented structure and contains many small-scale establishments that confine their operations to national, regional or even local markets, or to the delivery of a narrow range of specialized services. The bulk of firms employ fewer than five people (60.0% of all establishments), while few firms employ more than 100 people (less than 5.0%).
Despite this low concentration, there has been a trend over the past decade toward consolidation of operations of many of the world's leading consulting engineering firms, through mergers or strategic alliances... read more