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 2016, revenue for the Engineering Services industry is estimated to reach $29.9 billion, up 2.3% over 2015. Revenue growth is expected to slow compared with previous years due to the slow building and civil engineering construction output value during the year. In the five years through 2016, industry revenue has been increasing at an annualized rate of 4.3%.
China's construction and civil engineering industries grew consistently over the past several years.... purchase to read more
Industry Report - Starting a New Business Chapter
An operator of an engineering and project planning firm must be examined and approved by construction administration departments of the applicable province. Foreign-invested engineering services enterprises that engage in the operation of engineering services businesses must meet the requirements of the administration for foreign-invested firms.
Close relationships between existing consultants and clients are a barrier of entry for new firms. As existing operators often have well-established relationships with their customers, it can be difficult for a new firm to access downstream firms and gain clients.
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