	Standard Report	Premium Report
Current State of the Industry
Market Size (industry trends)
Market Forecast (5-year projection)
Products/Services Breakdown
Revenue per State
Financial Metrics
Salary & Compensation Statistics
Public Company Information
Key Private Companies
Government Vendors
Instant Download - Available immediately upon purchase
Download both PDF and Excel

Download now:

2024 U.S. Industry Statistics & Market Forecast - Engineering Services

Published: April 2024

Market Size & Industry Statistics

The total U.S. industry market size for Engineering Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics	2019 2020 2021 2022 2023
Market Size (Total Sales/Revenue)		Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee

Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data

Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.

Forecast / Industry Outlook	2024	2025	2026	2027	2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)

Source: AnythingResearch Economic Analysis

Industry Insights

The Engineering Services industry offers a broad range of professional services to clients from various industries. The industry has encountered various trends that have influenced its operations over the last decade. Here are some of the key trends affecting the Engineering Services industry:

1. Technological Advancements - The engineering services industry has been advancing with the introduction of new technologies such as artificial intelligence, the internet of things, and the adoption of smart technologies. These tech advancements require industry players to keep abreast with the technological changes and the skills required to implement them.

2. Shift to Renewable Energy Resources - The shift towards renewable energy resources has seen an increase in demand for engineering services providers in areas such as solar photovoltaic, wind energy, and geothermal systems. Engineering service providers must keep skills up to date to cater to this trend.

3. Focus on Environmental Sustainability - Environmental concerns have gained traction resulting in an increased focus on sustainability among engineering services firms. Utilizing sustainable engineering practices, such as green building, and energy-efficient structures, will remain a competitive advantage for firms.

4. Rise of Outsourcing - In recent years, outsourcing engineering services has increased. With the rapid growth in the services industry, information technology has created an environment where it is possible to outsource engineering services to companies in different parts of the world, further pressuring firms to deliver at even lower prices.

5. Industry Consolidation - There has been a prolonged period of M&A activity in the Engineering Services industry, with firms consolidating to boost competitiveness, expand their service portfolios and secure new capabilities. These consolidation efforts are expected to continue into the future.

Product & Services Breakdown

Research products and services in the Engineering Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description	Number of Companies	Sales ($ millions)	Percent of Total Sales
Industry Total
Construction Management Services
Project Management Services
Specific Element Inspection Services
Research And Development
Engineering Services For Residential Building Projects
Engineering Services - New Residential Building Projects
Engineering Services - Residential Building Renovation Projects
Engineering Services For Commercial, Public, And Institutional Building Projects
Engineering Services - New Commercial, Public, And Institutional Building Projects
Engineering Services - Commercial, Public, And Institutional Building Renovation Projects
Engineering Services For Industrial And Manufacturing Projects
Engineering Services - Petroleum And Petrochemical Plant And Process Projects
Engineering Services - Other Industrial And Manufacturing Plant And Process Projects
Engineering Design Services For Industrial And Manufactured Products (Include Aerospace And Defense.)
Engineering Services For Transportation Projects
Engineering Services - Highway And Roadway Projects
Engineering Services - Mass Transit Systems Projects (Include Light Rail And All Related Bridges And Tunnels.)
Engineering Services - All Other Transportation Projects (Include Aviation, Railway, And Marine.)
Engineering Services For Municipal Utility Projects
Engineering Services - Water Collection, Distribution, Treatment, And Disposal Projects
Engineering Services - Municipal Waste Collection And Disposal Projects
Engineering Services - Other Municipal Utility Projects
Engineering Services For Telecommunications And Broadcasting Projects
Engineering Services For Hazardous And Industrial Waste Systems Projects
Engineering Services - Industrial Waste Collection, Treatment, And Disposal Systems Projects
Engineering Services - Hazardous Waste Remediation Projects
Engineering Services For All Other Projects
Engineering Advisory And Consulting Services, Performed Independently Of An Engineering Project (Include Forensic Investigation.
Engineering Services For Power Generating Unit Projects
Engineering Services - Fossil Fuel Power Generating Unit Projects
Engineering Services - Hydropower Generating Unit Projects
Engineering Services - Nuclear Power Generating Unit Projects
Engineering Services - Other Power Generating Projects
Engineering Services For Power Transmission And Distribution Projects (Overhead And Underground)
Design-Build And General Contractor Services (Include Design-Bid-Build Construction Services.)
Home Inspection Services (Include Only Buildings With Fewer Than Four Residences.)
Commercial Building Inspection Services
Environmental Hazard Detection Services (Include Asbestos, Lead-Based Paint, Radon, And Mold.)
Drafting Services
Engineering Services
Survey And Mapping Services, Excluding Geophysical Services
Geophysical Surveying Services
Licensing Of Rights To Use Intellectual Property
Resale Of Merchandise
All Other Receipts
All Other Operating Receipts

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

	Industry Average	Percent of Sales (Industry Benchmark)
Total Revenue	Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit Net Income

Source: AnythingResearch Analysis of U.S. federal statistics

Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Engineering Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation Ratios	Industry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Engineering Services industry is performing.
Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Engineering Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.

Liquidity Ratios	Industry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories.

Efficiency Ratios - Key Performance Indicators	Industry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

Title	Percent of Workforce	Bottom Quartile
Management Occupations	11%	Order at top of page
Chief Executives	0%
General and Operations Managers	3%
Other Management Occupations	5%
Business and Financial Operations Occupations	12%
Business Operations Specialists	10%
Logisticians and Project Management Specialists	5%
Computer and Mathematical Occupations	9%
Computer Occupations	8%
Architecture and Engineering Occupations	46%
Engineers	30%
Civil Engineers	14%
Civil Engineers	14%
Drafters, Engineering Technicians, and Mapping Technicians	13%
Drafters	5%
Engineering Technologists and Technicians, Except Drafters	6%
Office and Administrative Support Occupations	7%

Source: Bureau of Labor Statistics

Engineering Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Engineering Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Engineering Services industry and adjacent sectors:

Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry	Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.	Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Engineering Services industry.