This report describes and explains the engineering services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global engineering services market reached a value of nearly $1.1 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 3.48% since 2019. The market is expected to grow from $1.1 trillion in 2024 to $1.31 trillion in 2029 at a rate of 3.53%. The market is then expected to grow at a CAGR of 3.41% from 2029 and reach $1.55 trillion in 2034.
Growth in the historic period resulted from the rising infrastructure development projects, growing adoption of artificial intelligence, increased demand for industrial robots, increasing adoption of the industry 4.0 and rapid industrialization. Factors that negatively affected growth in the historic period was lack of quality control and safety concerns of engineering firms.
Going forward, the expansion of the renewable energy sector, increasing investments in smart cities, rising demand for IOT solutions for smart manufacturing and growing demand for sustainable and green engineering solutions will drive the growth. Factor that could hinder the growth of the engineering services market in the future include high liability risks and infrastructure funding gaps.
North America was the largest region in the engineering services market, accounting for 33.23% or $366.89 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the engineering services market will be Middle East and Africa where growth will be at CAGRs of 9.63% and 6.50% respectively. These will be followed by South America and Asia-Pacific where the markets are expected to grow at CAGRs of 6.26% and 4.35% respectively.
The global engineering services market is highly fragmented, with large number of small players operating in the market. The top 10 competitors in the market made up to 3.56% of the total market in 2023. AECOM was the largest competitor with a 0.67% share of the market, followed by McDermott International, Inc with 0.54%, WSP Global Inc with 0.51%, Jones Lang LaSalle Incorporated with 0.40%, Balfour Beatty Plc. with 0.31%, WorleyParsons Limited with 0.27%, Kiewit Corporation with 0.24%, AtkinsRéalis Group Inc., (SNC-Lavalin) with 0.22%, Jacobs Solutions Inc. with 0.20% and Larsen & Toubro Limited with 0.19%.
The engineering services market is segmented type into civil engineering services, electrical engineering services, mechanical engineering services and other engineering services. The civil engineering services market was the largest segment of the engineering services market segmented by type, accounting for 50.69% or $559.61 billion of the total in 2024. Going forward, the other engineering services segment is expected to be the fastest growing segment in the engineering services market segmented by type, at a CAGR of 4.88% during 2024-2029.
The engineering services market is segmented by deployment mode into offshore and onshore. The offshore market was the largest segment of the engineering services market segmented by deployment mode, accounting for 57.99% or $640.17 billion of the total in 2024. Going forward, the offshore segment is expected to be the fastest growing segment in the engineering services market segmented by deployment mode, at a CAGR of 3.74% during 2024-2029.
The engineering services market is segmented by end-user into transportation infrastructure, other infrastructure, automotive, industrial manufacturing, healthcare sector, aerospace, telecommunications, information technology, oil and gas, utilities and other end-users. The transportation infrastructure market was the largest segment of the engineering services market segmented by end-user, accounting for 19.02% or $210.03 billion of the total in 2024. Going forward, the telecommunications segment is expected to be the fastest growing segment in the engineering services market segmented by end-user, at a CAGR of 4.65% during 2024-2029.
The top opportunities in the engineering services market segmented by type will arise in the civil engineering services segment, which will gain $81.48 billion of global annual sales by 2029. The top opportunities in the engineering services market segmented by deployment mode will arise in the offshore segment, which will gain $129.08 billion of global annual sales by 2029. The top opportunities in the engineering services market segmented by end user will arise in the transportation infrastructure segment, which will gain $44.75 billion of global annual sales by 2029. The engineering services market size will gain the most in the USA at $26.64 billion.
Market-trend-based strategies for the engineering services market include focus on adopting strategic partnerships approach to develop advanced engineering solutions, focus on adopting strategic partnerships approach to develop advanced engineering solutions, focus on prioritize developing interoperable portfolios to improve flexibility, efficiency and seamless integration across industries and focus on strategic investments to enhance innovation, optimize processes and technological capabilities.
Player-adopted strategies in the engineering services market include focus on expanding business capabilities through partnership to expand its operational capabilities.
To take advantage of the opportunities, the analyst recommends the engineering services companies to focus on adopting generative AI to accelerate engineering efficiency, focus on building interoperable portfolios to enhance integration and flexibility, focus on strategic investments to strengthen technological capabilities and market reach, focus on high-growth opportunities in other engineering services, focus on expanding offshore engineering services capabilities, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to drive innovation and market expansion, focus on pricing strategies to enhance competitive position, prioritize industry-specific digital channels for maximum reach, align promotional messaging with procurement priorities and focus on high-growth opportunities in the construction segment.
The global engineering services market reached a value of nearly $1.1 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 3.48% since 2019. The market is expected to grow from $1.1 trillion in 2024 to $1.31 trillion in 2029 at a rate of 3.53%. The market is then expected to grow at a CAGR of 3.41% from 2029 and reach $1.55 trillion in 2034.
Growth in the historic period resulted from the rising infrastructure development projects, growing adoption of artificial intelligence, increased demand for industrial robots, increasing adoption of the industry 4.0 and rapid industrialization. Factors that negatively affected growth in the historic period was lack of quality control and safety concerns of engineering firms.
Going forward, the expansion of the renewable energy sector, increasing investments in smart cities, rising demand for IOT solutions for smart manufacturing and growing demand for sustainable and green engineering solutions will drive the growth. Factor that could hinder the growth of the engineering services market in the future include high liability risks and infrastructure funding gaps.
North America was the largest region in the engineering services market, accounting for 33.23% or $366.89 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the engineering services market will be Middle East and Africa where growth will be at CAGRs of 9.63% and 6.50% respectively. These will be followed by South America and Asia-Pacific where the markets are expected to grow at CAGRs of 6.26% and 4.35% respectively.
The global engineering services market is highly fragmented, with large number of small players operating in the market. The top 10 competitors in the market made up to 3.56% of the total market in 2023. AECOM was the largest competitor with a 0.67% share of the market, followed by McDermott International, Inc with 0.54%, WSP Global Inc with 0.51%, Jones Lang LaSalle Incorporated with 0.40%, Balfour Beatty Plc. with 0.31%, WorleyParsons Limited with 0.27%, Kiewit Corporation with 0.24%, AtkinsRéalis Group Inc., (SNC-Lavalin) with 0.22%, Jacobs Solutions Inc. with 0.20% and Larsen & Toubro Limited with 0.19%.
The engineering services market is segmented type into civil engineering services, electrical engineering services, mechanical engineering services and other engineering services. The civil engineering services market was the largest segment of the engineering services market segmented by type, accounting for 50.69% or $559.61 billion of the total in 2024. Going forward, the other engineering services segment is expected to be the fastest growing segment in the engineering services market segmented by type, at a CAGR of 4.88% during 2024-2029.
The engineering services market is segmented by deployment mode into offshore and onshore. The offshore market was the largest segment of the engineering services market segmented by deployment mode, accounting for 57.99% or $640.17 billion of the total in 2024. Going forward, the offshore segment is expected to be the fastest growing segment in the engineering services market segmented by deployment mode, at a CAGR of 3.74% during 2024-2029.
The engineering services market is segmented by end-user into transportation infrastructure, other infrastructure, automotive, industrial manufacturing, healthcare sector, aerospace, telecommunications, information technology, oil and gas, utilities and other end-users. The transportation infrastructure market was the largest segment of the engineering services market segmented by end-user, accounting for 19.02% or $210.03 billion of the total in 2024. Going forward, the telecommunications segment is expected to be the fastest growing segment in the engineering services market segmented by end-user, at a CAGR of 4.65% during 2024-2029.
The top opportunities in the engineering services market segmented by type will arise in the civil engineering services segment, which will gain $81.48 billion of global annual sales by 2029. The top opportunities in the engineering services market segmented by deployment mode will arise in the offshore segment, which will gain $129.08 billion of global annual sales by 2029. The top opportunities in the engineering services market segmented by end user will arise in the transportation infrastructure segment, which will gain $44.75 billion of global annual sales by 2029. The engineering services market size will gain the most in the USA at $26.64 billion.
Market-trend-based strategies for the engineering services market include focus on adopting strategic partnerships approach to develop advanced engineering solutions, focus on adopting strategic partnerships approach to develop advanced engineering solutions, focus on prioritize developing interoperable portfolios to improve flexibility, efficiency and seamless integration across industries and focus on strategic investments to enhance innovation, optimize processes and technological capabilities.
Player-adopted strategies in the engineering services market include focus on expanding business capabilities through partnership to expand its operational capabilities.
To take advantage of the opportunities, the analyst recommends the engineering services companies to focus on adopting generative AI to accelerate engineering efficiency, focus on building interoperable portfolios to enhance integration and flexibility, focus on strategic investments to strengthen technological capabilities and market reach, focus on high-growth opportunities in other engineering services, focus on expanding offshore engineering services capabilities, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to drive innovation and market expansion, focus on pricing strategies to enhance competitive position, prioritize industry-specific digital channels for maximum reach, align promotional messaging with procurement priorities and focus on high-growth opportunities in the construction segment.
Major Market Trends
- Strategic Partnerships Driving Innovation in Engineering Services
- Generative AI Revolutionizing Engineering Services
- The Impact of Flexible Engineering Portfolios on Industry Growth
- Strategic Investments Transforming the Engineering and Construction Sector
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Engineering Services Growth Analysis and Strategic Analysis Framework
9 Global Engineering Services Market Segmentation
10 Engineering Services Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in the Engineering Services Market
24 Opportunities and Strategies
25 Engineering Services Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Engineering Services Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global engineering services market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for engineering services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The engineering services market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider engineering services; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by deployment mode and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by deployment mode and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for engineering services providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
1) by Type: Civil Engineering Services; Electrical Engineering; Mechanical Engineering Services; Other Engineering Services
2) by Deployment Mode: Offshore; Onshore
3) by End-User: Transport Infrastructure; Other Infrastructure; Automotive; Industrial Manufacturing; Healthcare Sector; Aerospace; Telecommunications; Information Technology; Oil and Gas; Energy and Utilities; Construction; Other End-Users
Key Companies Profiled: AECOM; McDermott International, Inc; WSP Global Inc; Jones Lang LaSalle Incorporated; Balfour Beatty Plc.
Countries: Australia, China, India, Indonesia, Japan, South Korea, Brazil, Russia, USA, Canada,France, Germany, UK, Italy, Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; engineering services indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Engineering Services market report include:- AECOM
- McDermott International, Inc
- WSP Global Inc
- Jones Lang LaSalle Incorporated
- Balfour Beatty Plc.
- WorleyParsons Limited
- Kiewit Corporation
- AtkinsRéalis Group Inc., (SNC-Lavalin)
- Jacobs Solutions Inc.
- Larsen & Toubro Limited
- ICS Engineering Services
- Engineers India Limited
- LaserBond
- Cyient
- Wipro
- Samsung Engineering
- Porsche Engineering (Shanghai) Co. Ltd.
- Hyundai Engineering (HEC)
- UGL
- Cybage Software Pvt. Ltd.
- China Overseas Engineering Group
- China Engineering Consultants, Inc. (CECI)
- Xodus Group
- Tech Mahindra
- Assystem S.A
- Colliers International Group Inc.
- Peakurban Pty Limited
- Babcock International Group plc
- iGreenData
- Transtech Engineers, Inc.
- Porsche Engineering Group GmbH
- Sunland.Al (International) Co. Limited
- Jacobs Solutions, Inc.
- Ramboll Group A/S
- JLL Engineering Services
- Dyson UK
- Stork
- SNC-Lavalin Group Inc
- J. Murphy & Sons Limited
- Arcadis
- Babcock International Group
- Alstom
- ALTEN
- Areva
- Artelia
- L&T Technology Services (LTTS)
- Axiscades Technologies Limited
- Mobica Limited
- Amey plc
- BEP Engineering Services
- Automotive Systems and Projects
- Tecosim Group
- In-tech electronics GmbH
- IQT Group
- Techno Engineering & Associates
- GT Ground Engineering & Construction Services
- Porsche Engineering Services, Ltd.
- International Business Machines Corporation (IBM)
- Capgemini
- AKTIAS tech
- Oracle
- MMTR Technology
- GlobalLogic
- Boeing Airplane and Transport Corporation
- Ayesa
- Softelligence SRL
- Colliers
- Englobe Corporation
- Norda Stelo Inc
- CWA Engineers Inc
- UES
- Riner Engineering
- KFW Engineers & Surveying
- Deloitte Touche Tohmatsu Limited
- Dextra Technologies
- Fluor Corporation
- Bechtel Corporation
- ABL Group ASA
- Proper Marine
- 10Pearls
- Whiz
- Schlumberger Argentina S.A.
- Pecom Servicios Energía S.A.
- Anasac
- Silicon Engineering Consultants
- Techint Engineering and Construction
- Egis Group
- Omrania
- Emirates International Gas (EIG)
- Saudi Engineering Group International (SEGI)
- Aroma International Building Contracting LLC
- Smart Cities Building Contracting LLC
- Black & White Engineering
- ISG Construction
- Saudi K-KEM Engineering Service Company
- Rheinmetall
- Resonant Holdings
- Thelo DB
- Dorman Long Engineering Limited
- CDR Engineering Consultancy Nigeria Limited
- ILF Engineers Nigeria Limited
- GIBB
- Epsilon Engineering Services (Pty) Ltd
- EHL Engineering Group
- South Zambezi Engineering Services (Pty) Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 385 |
| Published | April 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 1.1 Trillion |
| Forecasted Market Value ( USD | $ 1.55 Trillion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 106 |
