By design: The increasing value of private nonresidential construction will boost industry performance

Over the five years to 2018, the Engineering Services industry in New Jersey has recorded modest growth, with industry revenue increasing an annualized 1.8% to reach $8.4 billion, which includes expected growth of 10.7% in 2018 alone. Industry performance has been supported by strong annualized increases in the value of private nonresidential construction in New Jersey, which has increased an annualized 8.5%. Prior to the current period, the national and state industry endured a wave of consolidation efforts, which had suppressed industry participation. However, this activity has slowed, enabling the number of industry establishments to increase modestly at an annualized rate of 0.7% to reach 4,186 establishments...purchase to read more.

Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 13-18
1.8%
Forecast Growth 18-23
Profit
Employment
30,725
Businesses
4,186

Industry Threats & Opportunities

  • Rising revenue and strong profitability are expected to draw new entry into the industry
  • Industry Report - Industry Key Buyers Chapter

    • Market share concentration in this industry in New Jersey and across the US is low.• Due to the high portion of nonemploying enterprises in the industry, concentration is unlikely to change dramatically within the next five years.• The localized nature of industry service provision enables for geographic markets, with expansion opportunities being limited to the acquisition of regional competitors...purchase to read more.

    Additional Insights for the Engineering Services in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Engineering Services in New Jersey 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 Value of private nonresidential construction in New Jersey and Local and State Government Expenditure in New Jersey in the Engineering Services in New Jersey industry impact industry performance..

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    What's in this report

    What is the Engineering Services in New Jersey 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
  • Project management and advisory
  • Commercial and institutional projects
  • Industrial and manufacturing projects
  • Transportation projects
  • Municipal utility projects
  • Telecom projects
  • Power related 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
  • Value of private nonresidential construction in New Jersey
  • Local and State Government Expenditure in New Jersey
  • Value of utilities construction
  • Yield on 10-year Treasury note

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Engineering Services in New Jersey 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
  • Power related projects
  • Other
  • Industrial and manufacturing projects
  • Transportation projects
  • Commercial and institutional projects
  • Project management and advisory
  • Municipal utility projects
  • Telecom projects
  • Chart: Engineering Services in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Government customers
  • Private businesses
  • Engineering firms
  • Construction firms
  • Individuals
  • Architectural firms
  • Not for profit customers
  • Chart: Major Market Segmentation for the Engineering Services in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Engineering Services in New Jersey

  • Basis of Competition
    Barriers to Entry
    Structure Tone Organization, Torcon, Kiewit Corporation, Turner Construction Company,
  • Table: Structure Tone Organization - financial performance
  • Table: Torcon - financial performance
  • Table: Kiewit Corporation - financial performance
  • Table: Turner Construction Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Engineering Services in New Jersey 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 New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Value of private non-residential construction in New Jersey (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    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 two-dimensional drawings or three-dimensional models.
  • Nonemployer Establishment
  • A sole proprietor or partnership with no payroll employees.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Engineering Services in New Jersey contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
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    This report on Engineering Services in New Jersey:
    • 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 New Jersey 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 New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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