CLEVELAND, Dec. 21, 2016 /PRNewswire/ -- Revenues for US engineering services are forecast to rise 3.7% annually to 2020 on the strength of vigorous domestic construction activity. Among the various sectors of the engineering services industry, establishments that engage in commercial, public, and institutional engineering projects are expected to post the strongest gains, of 6.1% yearly through 2020.
Growth in nonresidential building activity resulting from expansion of business and government investments will back these advances. Over the forecast period, a modest increase in overall economic activity will support construction of nonresidential buildings as businesses expand their workforces and seek to boost productivity and provide better services to their customers.
These and other findings are featured in Engineering Services: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group. http://www.freedoniagroup.com/freedonia-focus/engineering-services-united-states-FF95035.htm
This report forecasts US engineering service revenues in US dollars to 2020. Total revenues are segmented by market in terms of:
- industrial and manufacturing projects
- power generation and distribution projects
- commercial, public, and institutional projects
- other engineering projects such as municipal utilities
- other revenue sources such as construction services.
Total revenues are also segmented by private versus public sector.
To illustrate historical trends, total revenues and the various segments are provided in annual series from 2005 to 2015.
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About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/engineering-service-revenues-to-rise-37-annually-to-2020-300381507.html
SOURCE The Freedonia Group