Rising Construction Activity to Boost US Engineering Service Revenues

Public investment expected to outpace private

CLEVELAND, Aug. 31, 2022 /PRNewswire/ -- US engineering service revenues are forecast to advance 4.5% per year in nominal terms through 2026, according to Engineering Services: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by:

• expected gains in manufacturer investment in facilities, supported by growth in manufacturing output
• increased government investment in transportation infrastructure, particularly at the federal level following the 2021 passage of the Infrastructure Investment and Jobs Act
• recovery in nonresidential building activity
• the development and construction of new power generating units, as well as the modification and upgrade of existing plants

Public investment saw more rapid growth over the historical period (8.7%) than private investment and is expected to see 9.6% growth through 2026.

In 2022, revenues are expected to expand 5.1% as government and business investment returns to normal following the COVID-19 pandemic.

These and other key insights are featured in Engineering Services: United States. This report forecasts to 2022 and 2026 US engineering services revenues in nominal US dollars. Total revenues are segmented by market in terms of:

• industrial and manufacturing
• commercial, public, and institutional
• transportation infrastructure
• 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 revenues are also segmented by sector as follows:

• private
• public

To illustrate historical trends, total revenue and the various segments are provided in annual series from 2011 to 2021.

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.

More information about the report is available at:
https://www.freedoniafocusreports.com/Engineering-Services-United-States-FF95035/?progid=91541 

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. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

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

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group