How big is the Engineering Services Market?

The Engineering Services Market size is expected to reach USD 1.67 trillion in 2024 and grow at a CAGR of 4.20% to reach USD 2.04 trillion by 2029. Read More

What is the current Engineering Services Market size?

In 2024, the Engineering Services Market size is expected to reach USD 1.67 trillion. Read More

Who are the key players in Engineering Services Market?

AECOM Engineering company, Bechtel Corporation, Kiewit Corporation, WSP Global Inc and STRABAG SE are the major companies operating in the Engineering Services Market. Read More

Which is the fastest growing region in Engineering Services Market?

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Engineering Services Market?

In 2024, the Asia Pacific accounts for the largest market share in Engineering Services Market. Read More

What years does this Engineering Services Market cover, and what was the market size in 2023?

In 2023, the Engineering Services Market size was estimated at USD 1.60 trillion. The report covers the Engineering Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Engineering Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Engineering Services Market - Size, Trends & Industry Overview

Engineering Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Industrial Development Engineering Services And The Market Is Segmented By Engineering Disciplines (Civil, Mechanical, Electrical, Piping & Structural), Delivery Mode (Offshore, Onsite), Services (Product Engineering, Process Engineering, Automation Related Services, Asset Management Related Services), Industries (Aerospace And Defense, Automotive, Chemical And Petrochemical, Electric Power Generation, Municipal Utility Projects, Mining, Oil And Gas, Pharmaceuticals, Transportation, Telecommunications, Nuclear Projects), By Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Spain, And Rest Of Europe), Asia-Pacific (China, Japan, India, Rest Of Asia-Pacific), Latin America (Brazil, Argentina, Rest Of Latin America), Middle East And Africa (United Arab Emirates, Saudi Arabia, South Africa, And Rest Of Middle East And Africa). The Market Sizes And Forecasts Are Provided In Terms Of Value In USD For All The Segments.

Engineering Services Industry Overview

The global engineering services market is highly fragmented, with local and multinational firms having decades of business expertise and competing for market share. Some of the major players in the market are AECOM Engineering Company, Bechtel Corporation, Kiewit Corporation, WSP Global Inc., and STRABAG SE, among others. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their service offerings and gain a sustainable competitive advantage.

First Student, a provider of student transportation services in North America, chose Bechtel Corporation in March 2023 to continue its electrification efforts. The partnership is focused on more EV deployments in the future, with Bechtel providing engineering, procurement, and construction services. The company has been receiving various contracts to cater to its growing customer base.

May 2023: KSB and KSB SupremeServ North America announced the introduction of a new engineering services division strategically prepared to meet business growth demand. The new group contains product development, application engineering, automation and digitization, consultancy, spare parts, technical documentation, technical training, licenses, and warranty management.