Rise in construction activity to boost U.S. engineering services revenue
Public investment should outpace private
CLEVELAND, August 31, 2022 /PRNewswire/ — U.S. engineering services revenue is expected to grow 4.5% annually in nominal terms through 2026, according to Engineering services: United States, a report recently published by Freedonia Focus Reports. Progress will be driven by:
- expected gains from manufacturers’ investments in facilities, supported by growth in manufacturing output
- increased government investment in transportation infrastructure, particularly at the federal level following the passage in 2021 of the Infrastructure Investment and Job Creation Act
- resumption of non-residential building activity
- the development and construction of new power generation units, as well as the modification and upgrading of existing power plants
Public investment has grown faster over the historical period (8.7%) than private investment and is expected to grow by 9.6% through 2026.
In 2022, revenues are expected to grow 5.1% as government and business investment returns to normal following the COVID-19 pandemic.
This and other key information is presented in Engineering services: United States. This report forecasts 2022 and 2026 engineering services revenue in the United States in nominal US dollars. Total revenues are segmented by market in terms of:
- industrial and manufacturing
- commercial, public and institutional
- transport infrastructure
- energy production and distribution
- other engineering projects such as municipal utilities, hazardous and industrial waste systems, and telecommunications and broadcasting systems
- other sources of income, such as construction services, engineering consulting and drafting services, and surveying and mapping services
Total revenue is also segmented by industry as follows:
To illustrate historical trends, total revenue and different segments are provided in annual series from 2011 to 2021.
Revenue from engineering service providers in the United States includes revenue from all domestic sites whose primary business is to provide engineering services. Thus, revenues from other activities performed by these locations are included in total revenues. Receipts from establishments which may provide such services but which primarily engage in a different activity are excluded from this report. Domestic sites that provide services to overseas customers are also included in industry revenue.
More information on the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus reports, providing up-to-date, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, the Focus report’s coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Service & Industry reports can be purchased at Freedonia Tuning Reports Where MarketResearch.com.
The analysis is intended to guide the busy reader through relevant topics in quick succession, including:
- total historical market size and industry production
- segmentation by products and markets
- identification of market drivers, restraints and key indicators
- outlook segment by segment in 5-year forecasts
- supply base survey
- suggested resources for further study
SOURCE The Freedonia Group