Engineering Firm Revenues Expected to Rise
Engineering service revenues in the United States are forecast to advance 3.8% per annum in nominal terms through 2023, according to Engineering Services: United States, a report recently released by Freedonia Focus Reports. Demand for services from domestic engineering service establishments is closely tied to domestic construction expenditures, which are forecast to rise 4.3% per year through 2023. Advances will be driven by expected gains in manufacturer investment in facilities, supported by growth in manufacturing output. In particular, rising shipments of transportation equipment, pharmaceutical products, and plastic resins, rubber, and fibers will back investment in related infrastructure. Growth will also be driven by increased investment in transportation infrastructure by the federal government, as well as by some state and municipal governments.
More information about the report is available at:
https://www.freedoniafocusreports.com/Engineering-Services-United-States-FF95035/?progid=91541
These and other key insights are featured in Engineering Services: United States. This report forecasts to 2023 US engineering services revenue in nominal US dollars. Total revenue is segmented by market in terms of:
- industrial and manufacturing
- transportation infrastructure
- commercial, public, and institutional
- power generation and distribution
- other engineering projects, such as municipal utilities, hazardous and industrial waste systems, and telecommunications and broadcasting systems
- other revenue sources, such as construction services, engineering advisory and drafting services, and surveying and mapping services
Total demand is also segmented by sector as follows:
- private
- public
To illustrate historical trends, total revenue and the various segments are provided in annual series from 2008 to 2018.
US engineering services providers’ revenues include income from all domestic locations primarily engaged in providing engineering services. Thus, receipts from other activities performed by these locations are included in total revenues. Receipts from establishments that may provide such services but are primarily engaged in a different activity are excluded from this report. Domestic locations that perform services for foreign customers are also included in industry revenues.
