By design: Growth in Florida's economy will continue to boost demand for engineering

Demand for the Engineering Services industry has grown over the past five years as the Florida economy grew and downstream markets expanded to demand more engineering services. The population of Florida grew quickly over the past five years and prompted rapid job growth in the state. As a result, more engineering services were required for the boom in private nonresidential and residential construction projects required to house the businesses and individuals. Manufacturing GDP is forecast to continue growing over the following five years, continuing to increase demand for engineering services in that state. Also, the value of private nonresidential and residential construction is projected to continue growing...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Growing manufacturing activity in Florida will continue to sustain industry demand
  • The value of residential construction has grown quickly and has prompted greater industry demand
  • Growth in the value of private nonresidential construction is projected to continue boosting industry demand
  • Industry Report - Industry Analysis Chapter

    The Engineering Services industry in Florida has grown in line with construction activity over the past five years. The industry’s revenue grew at an estimated annualized rate of 6.4% to $12.7 billion in the five years to 2017, with 4.7% growth in 2017 alone. This rapid growth in the industry has also allowed industry operators to achieve a higher profit margin over the past five years as demand grew and permitted them to charge higher fees.The Florida economyGeneral economic growth in Florida over the period has benefited the Engineering Services industry in the state. Florida’s economy has grown at a faster rate than the national average over the past five years. The...purchase to read more.

    Additional Insights for the Engineering Services in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Engineering Services in Florida Industry are

  • Having contacts within key markets
  • Fast adjustments made to changing regulations
  • Ability to compete on tender
  • IBISWorld analysts also discuss how external factors such as Manufacturing GDP for Florida and Value of private nonresidential construction in Florida in the Engineering Services in Florida industry impact industry performance..

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    What's in this report

    What is the Engineering Services in Florida Industry?

    Industry establishments apply the physical laws and principles of engineering in designing, developing and using machines, materials, instruments, structures, processes and systems. These services may involve providing advice, preparing feasibility studies, preparing plans and designs, providing technical services during construction or development, inspecting and evaluating engineering projects and providing other related services.

    Industry Products
  • Industrial and manufacturing projects
  • Construction projects
  • Transportation projects
  • Industry Activities
  • Providing design and management services for construction and engineering infrastructure projects
  • Providing design and management services for environmental projects
  • Providing design and management services for industrial processes and equipment
  • Providing construction management services
  • Process management (e.g. assessing engineering and product problems)
  • Project planning and economic assessments
  • Asset management, including life cycle asset management and management systems
  • Feasibility studies, including environmental impact assessment and community consultation
  • Quality management assessment and accreditation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Manufacturing GDP for Florida
  • Value of private nonresidential construction in Florida
  • Value of Residential Construction in Florida
  • Value of utilities construction
  • Local and state government expenditure in Florida

  • Current Performance
  • The Florida economy
  • Construction activity
  • Manufacturing and industrial production
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Florida state economy
  • More construction ahead
  • Manufacturing activity
  • Industry structure
  • Table: Engineering Services in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Engineering Services in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining
  • Utilities
  • Construction
  • Rail Transportation
  • Public Administration

  • Key Selling Industries
  • Accounting Services
  • Construction
  • Finance and Insurance
  • Law Firms
  • Professional, Scientific and Technical Services
  • Tax Preparation Services

  • Products & Services
  • Other
  • Industrial and manufacturing projects
  • Transportation projects
  • Construction projects
  • Chart: Engineering Services in Florida Industry Products and Services Segmentation

  • Major Markets
  • Private businesses
  • Government bodies
  • Architecture and construction firms
  • Other
  • Chart: Major Market Segmentation for the Engineering Services in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesRent and utilities, depreciation and marketing
  • Chart: Cost Structure Benchmarking – Sector vs Engineering Services in Florida

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Engineering Services in Florida Industry

  • AECOM, CDM Smith Inc., CH2M Hill Companies Ltd., Haskell,
  • Table: AECOM - financial performance
  • Table: CDM Smith Inc. - financial performance
  • Table: CH2M Hill Companies Ltd. - financial performance
  • Table: Haskell - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Engineering Services in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Engineering Services in Florida Industry
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Value of private non-residential construction (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Chemical Engineering
  • Engineering that is focused on the design, construction and operation of plants and processes for producing acids, dyes, drugs, plastics and synthetic materials.
  • Civil Engineering
  • Engineering that is focused on the planning, designing, construction and maintenance of infrastructure, including highways and bridges, dams and irrigation, and mass-transit facilities.
  • Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create 2D drawings or 3D models.
  • Industrial Engineering
  • Engineering that is focused on managing efficient production, involving the design of production methods, plant analysis, the application of labor and materials, and the control of inventory.
  • Nonemployer Establishment
  • A sole proprietor or partnership with no payroll employees.
  • What Our Customers Say

    Why buy this report?

    The Engineering Services in Florida industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Engineering Services in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Engineering Services in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Engineering Services in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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