DUBLIN--(BUSINESS WIRE)--The "Engineering Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The engineering services market is expected to register a CAGR of 8% during the forecast period, 2021 - 2026.
Companies Mentioned
- AECOM Engineering company
- Bechtel Corporation
- Kiewit Corporation
- WSP Global Inc
- STRABAG SE
- NV5 Global
- Barton Malow
- Gilbane Building Company
- Jones Lang LaSalle Incorporated
- Balfour Beatty US
- Brasfield & Gorrie, LLC
- New York Engineers
- Trylon Engineering Pty Ltd
Key Market Trends
Civil Engineering Services is Expected to Register a Significant Growth
- Rising demand for environment-friendly buildings coupled with government initiatives to revamp the country's depleted infrastructure and increasing public and private sector investments in residential, commercial, healthcare, and educational infrastructure construction projects globally are providing civil engineering market to expand exponentially.
- For instance, in February 2018, White House released "Legislative Outline for Rebuilding Infrastructure in America," which aims to increase investment in US infrastructure and accelerate the delivery of significant projects. The White House would provide USD 200 billion to spur a projected USD 1.5 trillion in new infrastructure investment in the next ten years.
- Moreover, another factor driving the market share is the rising prominence of robots in the construction industry for taking up monotonous tasks that enhance worker safety, which helps in increasing the overall productivity, thus boosts the industry share.
- For example, a Canadian based Novarc Technologies robotics company demonstrated its Spool Welding Robot (SWR). This robot would help in pipe welding applications that would solve the industrial automation problems. These robots would lower the cost of welding, thereby would have a positive outlook on the market.
- Further, in the future, it is expected that engineering firms would augment their portfolios with digital and connected technology assets to capture a larger share of this market.
Asia- Pacific to Witness Fastest Growth
- The Asia-Pacific region is being dominated by two highly populated country i.e., India and China. China is making significant infrastructural investments to expand 163,000 kilometers for gas, 37,000 for crude, and 40,000 for oil products. The new 40,000 km new gas pipeline that is expected to connect 470 million new people by 2025. Such investments provide opportunities for engineering services to spur in the region, considering the functional benefits that the engineering services can provide.
- Moreover, with levels of urbanization to reach 50 %in APAC by 2020, there will be increased consumption of products and services, encouraging various industries to develop their facilities and offices in these economies. Hence, this would provide an ample opportunity for the engineering services market to increase its footprint in the region.
- Additionally, governments are investing in the aviation industry, intending to boost global trade in the country is further driving the market. For instance, India is planning to open 100 additional airports by 2024, which would include the starting of 1,000 new routes connecting smaller towns and villages in the country. Therefore, such development activities would increase infrastructure construction in the region, thereby positively impacting the engineering services market.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Evolution of Industrial IoT
4.3.2 Increasing Renovation Activities
4.4 Market Restraints
4.4.1 Political Problems and Lack of Skilled Professionals
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Engineering Disciplines
5.1.1 Civil
5.1.2 Mechanical
5.1.3 Electrical
5.1.4 Piping and Structural Engineering
5.2 By Delivery Model
5.2.1 Offshore
5.2.2 Onsite
5.3 By Services
5.3.1 Product Engineering
5.3.2 Process Engineering
5.3.3 Automation Related Services
5.3.4 Asset Management Related Services
5.4 By Industries
5.4.1 Aerospace and Defense
5.4.2 Automotive
5.4.3 Chemical and Petrochemical
5.4.4 Electric Power Generation
5.4.5 Municipal Utility Projects
5.4.6 Mining
5.4.7 Oil and Gas
5.4.8 Pharmaceuticals
5.4.9 Transportation
5.4.10 Telecommunications
5.4.11 Nuclear Projects
5.4.12 Other Industries ( Electronics and Electricals, Semiconductors, and Machinery)
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Spain
5.5.2.5 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Rest of Asia-Pacific
5.5.4 Latin America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of Latin America
5.5.5 Middle East and Africa
5.5.5.1 UAE
5.5.5.2 Saudi Arabia
5.5.5.3 South Africa
5.5.5.4 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xdwwgw
