High rise: Green building trends and overall nonresidential building construction will drive industry growth

Over the five years to 2017, the industry has performed well. Primarily, industry growth has been driven by growth in the nonresidential building sector. Contrasting the national industry's trend toward consolidation, operations in the Engineering Services industry in New York are expanding, as displayed by stable growth in establishments and enterprises. Over the five years to 2022, the industry is anticipated to grow at a slightly faster pace compared with the previous five-year period. Growing trends in green building, green energy and overall nonresidential building construction are expected to drive growth. Moreover, nonresidential construction in New York is expected to grow and investment activity by the federal government is also expected to pick up...read more.

Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 12-17
2.5%
Forecast Growth 17-22
Profit
Employment
41,101
Businesses
6,733

Industry Threats & Opportunities

  • Consumer sentiment now favors green building and clean energy projects, which presents an opportunity for the industry to expand
  • Federal spending cutbacks as a result of the Bipartisan Budget Act of 2013 have hurt the industry
  • More businesses are willing to commit to large projects that require engineering services
  • Industry Report - Industry SWOT Analysis Chapter

    ***This section is not used for US State reports.***Only set Reasons & Level!...purchase to read more.

    Additional Insights for the Engineering Services in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Engineering Services in New York 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 York and Value of utilities construction in the Engineering Services in New York industry impact industry performance..

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    What's in this report

    What is the Engineering Services in New York 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
  • Commercial, public and institutional projects
  • Transportation projects
  • Industrial and manufacturing projects
  • Residential projects
  • Municipal utility projects
  • Energy 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 York
  • Value of utilities construction
  • Value of Residential Construction in New York
  • Local and state government investment

  • Current Performance
  • Missed opportunities
  • Commercial construction
  • Slight uptick in local spending
  • Profit and expansion
  • Chart: Revenue Growth

  • Industry Outlook
  • Private investment spurs growth
  • Green building emphasis grows
  • Profit margins and employment
  • Table: Engineering Services in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Engineering Services in New York 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
  • Commercial, public and institutional projects
  • Other
  • Transportation projects
  • Industrial and manufacturing projects
  • Residential projects
  • Municipal utility projects
  • Energy projects
  • Chart: Engineering Services in New York Industry Products and Services Segmentation

  • Major Markets
  • Private businesses
  • Government bodies
  • Architectural firms
  • Construction firms
  • Households and nonprofit organizations
  • Engineering firms
  • Chart: Major Market Segmentation for the Engineering Services in New York Industry

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

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

  • Turner Construction Company, Lendlease, Skanska AB, Structure Tone Inc.,
  • Table: Turner Construction Company - financial performance
  • Table: Lendlease - financial performance
  • Table: Skanska AB - financial performance
  • Table: Structure Tone Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Engineering Services in New York 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 York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • World Price of Crude Oil (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 two-dimensional drawings or three-dimensional 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?

    IBISWorld’s industry research report on Engineering Services in New York can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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 New York:
    • 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 York 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 York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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