Engineering & Consulting

The engineering services market  consists of sale of engineering services. Engineering  services' companies apply physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. Engineering services include technical application of engineering in product designing, innovations and others in industries such as building construction, mining, power and energy, transportation, manufacturing and others. Engineering services are one of the most important providers of manufacturing orders so, therefore of the utmost importance to all manufacturing disciplines.

The global engineering services market was valued at about $1024 billion in 2018 and is expected to grow to $1515.66 billion at a CAGR of 10.3% through 2022.

The engineering services market is expected to benefit from steady economic growth in developed and developing countries. The global real GDP growth will be 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. This trend will be mainly driven by regions of Asia and Africa. According to the report, Asia will represent 66% of the global middle-class population by 2030.