Engineering Services Market To Reach $4,722.7 Billion By 2030

April 2025 | Report Format: Electronic (PDF)

Engineering Services Market Growth & Trends

The global engineering services market size is expected to reach USD 4,722.7 billion by 2030, registering a CAGR of 5.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. The engineering services market is experiencing significant growth driven by technological advancements, increasing infrastructure development, and the need for sustainable solutions. Key drivers include adopting automation, artificial intelligence (AI), and the Internet of Things (IoT), which enhance productivity and efficiency. Rapid urbanization, government investments in infrastructure, and the push for eco-friendly practices due to stringent environmental regulations are also propelling the market. In addition, globalization and the trend of outsourcing services, as well as the rise of Industry 4.0 and smart manufacturing, are expanding market opportunities.

However, the market faces challenges such as economic uncertainty, high initial costs, and a shortage of skilled professionals. Regulatory complexities across different regions further restrain market growth. Despite these challenges, opportunities abound in digital transformation, renewable energy projects, smart city development, and emerging markets in Asia Pacific and Latin America. Strategic partnerships and collaborations with technology providers can help companies innovate and expand their service offerings, positioning them to thrive in the evolving market landscape.

Regulatory and environmental considerations play a crucial role in shaping the market, as firms must comply with health, safety, and environmental standards. Challenges such as intense competition, high client expectations, technological disruption, and global trade issues also impact the market. Despite these challenges, the market is poised for continued growth driven by infrastructure development, technological advancements, and sustainability efforts. Emerging technologies and markets will influence the market's future, with a strong focus on digital integration and innovative, sustainable solutions.

Europe is expected to grow significantly in the engineering services market during the forecast period. The region's leadership in technological innovation across industries like automotive, aerospace, renewable energy, and healthcare positions it at the forefront of advancing technologies such as electric vehicles, autonomous systems, and sustainable energy solutions. This innovation fosters demand for engineering services specializing in research, development, and implementation of cutting-edge technologies. Moreover, Europe's strong emphasis on sustainability, evidenced by stringent environmental regulations and commitments to carbon neutrality, drives further demand for engineering services in green technologies, energy efficiency, and sustainable infrastructure projects.

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Engineering Services Market Report Highlights

The Non-Memory ATE segment accounted for the largest market share of over 19% in 2024. On the other hand, the specialized engineering services are poised to experience the highest growth during the next few years.
The environmental projects segment dominated the engineering services market in 2024, fueled by rising global focus on sustainability, climate change reduction, and natural resource management. On the other hand, the technology implementation segment is registering the fastest growth.
The communications segment is currently leading the market for engineering services, primarily due to the ongoing expansion of 5G networks, data centers, and telecommunications infrastructure worldwide. The construction segment is experiencing the fastest growth, fueled by a surge in residential, commercial, and public infrastructure projects globally.
The civil engineering segment accounts for a significant portion of the engineering services market, primarily due to the high demand for infrastructure development across various sectors, including transportation, water systems, and urban planning.
Asia Pacific accounted for the largest revenue share of nearly 37% in 2024 in the Engineering Services Market. The region is expected to witness a significant growth at a CAGR of 6.5%.

Engineering Services Market Segmentation

Grand View Research has segmented global engineering services market report based on engineering service type, engineering discipline, application, end-use and region:

Engineering Services Engineering Service Type Outlook (Revenue, USD Million, 2018 - 2030)