PUBLISHER: The Business Research Company | PRODUCT CODE: 1429329
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429329
The architectural and engineering consulting industry encompasses firms that offer a range of services, including planning, design, and supervision for complex construction projects. Engineering firms provide expert advice and solutions, undertaking tasks such as project evaluation, design, simulation, and testing.
The key categories within architectural and engineering consulting services include engineering services, architectural services, surveying and mapping services, geophysical services, laboratory testing services, building inspection services, and drafting services. Engineering services involve the deployment of systems, assemblies, or products, comparable in material, design, and scope to those specified for a particular project. Service providers in this industry can range from large enterprises to small and medium-sized enterprises, and their expertise is applied across various applications such as road, rail, port, airport, pipeline, power, and more.
The global architectural, engineering, and related services market research report is one of a series of new reports from The Business Research Company that provides global architectural, engineering, and related services market statistics, including global architectural, engineering, and related services industry global market size, regional shares, competitors with a global architectural, engineering, and related services market share, detailed global architectural, engineering, and related services market segments, market trends and opportunities, and any further data you may need to thrive in the global architectural, engineering, and related services industry. This global architectural, engineering, and related services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The architectural, engineering consultants and related services market size has grown steadily in recent years. It will grow from $1,512.86 billion in 2023 to $1,576.06 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth observed in the historic period within the architectural and engineering consulting industry can be attributed to various factors. These include an increased demand for environmentally safe and certified buildings, strong economic growth in emerging markets, a rise in construction activity, globalization, and government subsidies and funding aimed at supporting such projects. These factors collectively contributed to the expansion and development of the architectural and engineering consulting sector during the historical period.
The architectural, engineering consultants and related services market size is expected to see steady growth in the next few years. It will grow to $1,850.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The architectural and engineering consulting industry's growth is fueled by accelerated economic growth, increased investment in smart cities, rising government infrastructure spending, and a commitment to green construction practices. Trends include augmented investment in smart cities, expanding government infrastructure expenditure, and a dedication to sustainable construction practices.
The architectural, engineering, and related services market is experiencing a surge due to the increasing demand for environmentally conscious and certified buildings. Stakeholders, including consumers, government entities, and non-governmental organizations, are actively advocating for more energy-efficient and self-sustainable residential and commercial structures. Consequently, private developers and real estate entities are adapting their projects to meet these criteria, resulting in various benefits such as heightened property value, enhanced resident satisfaction, reduced operational expenses, and recognition on regional or international scales. Notably, the US Green Building Council's (USGBC) Leadership in Energy and Environmental Design (LEED) certification program has set the standard for construction, design, and upkeep in residential developments. Studies by the USGBC have shown that LEED-certified buildings have significantly curbed carbon, energy, waste, and water waste by approximately 30-97%, alongside a more than 9% reduction in operational costs.
The upward trajectory of urbanization is anticipated to drive the growth of the architectural, engineering consultants, and related services market. Urbanization signifies the ongoing migration of a considerable portion of a nation's or region's populace from rural to urban locales, contributing to the expansion and development of urban areas. This expansion necessitates the creation of new infrastructure such as roads, bridges, public transit systems, water supply networks, sewage systems, and utilities. Architectural and engineering consultants play a pivotal role in strategizing, designing, and supervising these projects. As highlighted in a report published by the United Nations Conference on Trade and Development in July 2022, the global population is expected to reach 8 billion individuals in 2022, reflecting a 0.9% increase from the previous forecast in 2021. This ongoing trend of urbanization underscores the driving force behind the architectural, engineering consultants, and related services market's growth.
Architectural and engineering consultants are leveraging 5D Building Information Modeling (BIM) to craft dynamic and adaptable building designs with flexible modifications available throughout different project stages. This innovative BIM software acts as a comprehensive tool for designing structures, encompassing various elements such as lighting, HVAC systems, mechanical, electrical, and plumbing systems. Additionally, it facilitates clash detection, cost estimation, and safety analysis. 5D BIM technology permits real-time adjustments and customization of architectural designs, drawing data from diverse project teams to foster collaboration across the construction chain, effectively eliminating potential project delays. For instance, The Korte Company, a construction management firm, has embraced 5D BIM technology, streamlining project design, planning, and cost estimation, thereby expediting decision-making processes. Similarly, the Maharashtra Metro Rail Corporation in Maharashtra, India, is employing 5D BIM technology in its $3 billion worth of construction projects to curtail costs and legal disputes.
Leading companies are innovating by introducing new offerings such as partner diversity consulting programs to cater to expanded customer bases, bolster sales, and enhance revenue streams in the architectural, engineering consultants, and related services market. Partner diversity consulting programs entail specialized services offered by consulting firms focused on strategies for Diversity, Equity, and Inclusion (DEI). For instance, HKS Inc., a US-based architectural services provider, introduced HKS xBE, a novel partner diversity program, specifically designed to support xBE firms (encompassing all disadvantaged businesses) and their members. This program facilitates access to networking opportunities, job exploration, and innovation fostering within architectural and design professions. Notable components of this program include xBE Rise, a 12-week seminar, and xBE Network, aimed at diversifying the firm's array of relationships for architecture and design projects.
Major companies operating in the architectural, engineering consultants and related services market report are Downer EDI Limited, WSP Global Inc., John Wood Group PLC, Jacobs Engineering Group, Inc., Fluor Corporation, Babcock International, Kiewit Corporation, Zaha Hadid Architects, The African Engineering Company (SAFI), Beijing Engineering Corp Ltd., Architecture BRIO, Architecture Discipline, Camargo Correa, Cutler. Architecture, Dutco Balfour Beatty, Zvi Hecker Architekt, Redcon Construction Company, HPP Architects, Power China Kunming Engineering Corp. Ltd., Soned Afrique, Thabimndeni Construction & Projects CC, Mourik General Contractors, WTorre Empreendimentos, BCHO Architects Associates, JSWD Architekten, Construcciones Planificadas, Cabinet of Engineering for Development (CAID), Queiroz Galvao, China Construction Engineering Design Group Corp. Ltd., Gensler San Francisco, BDP - Building Design Partnership, ZAS Architects + Interiors Inc., Allford Hall Monaghan Morris, Allies and Morrison, khatib & alami, kadawittfeldarchitektur, Iroje KHM Architects, MRV Engenharia, APEX Project Bureau, Arch-BOX, PTW Architects, JEMS Architekci, Julius Berger Nigeria PLC, Danya Cebus Ltd., HDR Omaha, Lubrik Construction Company, Oiltek Engineering Co. Ltd., La' Ala Al-Kuwait Real Estate Co, Bechtel Corporation, Aecom, Ingarden & Ewy - Architekci, Polish Architecture, Gulf Coast Electromechanical Company (UAE), Orascom Construction, China Architecture Design & Research Group, Andrade Gutierrez, Reynolds Construction Company, NV5, Shikun & Binui, Nakheel, Ecomo, WorleyParsons Limited, CP Kukreja Architects, Zaher Architects, Hager Design International Inc., AF construction, Maki & Associates, Grandio, Oderbrecht, Perkins and Will Chicago, Al Habtoor Group LLC, Ashtrom Group Ltd., Eco-Beam, Sou Fujimoto Architects, Design Plus Architects, Arabian Bemco Contracting Co, KPMB Architects, Al Rashid Trading & Contracting Co, Al Rajhi Hydraulic Center, Harry Seidler & Associates, SalfaCorp, Gav Yam Land Corporation Ltd., Estim Construction Co. Ltd., Foster + Partners, Cadence Architects, Unsangdong Architects, Stantec, KBR, Inc., Turner Construction, Shigeru Ban Architects, Peter Stutchbury Architecture, Marco Casamonti & Partners
Western Europe was the largest region in the architectural, engineering consultants and related services market in 2023. North America was the second largest region in the architectural, engineering consultants and related services market. The regions covered in the architectural, engineering consultants and related services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the architectural, engineering consultants and related services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The architecture, engineering and other related services market consists of revenue earned by entities by providing support to the planning and designing of construction related businesses of all sizes across all industries. Business entities that are engaged in providing architecture, engineering and other related services are generally referred to as architectural firms or engineering consultancy firms. Architecture, engineering and related services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Architectural, Engineering Consultants And Related Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on architectural, engineering consultants and related services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for architectural, engineering consultants and related services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The architectural, engineering consultants and related services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.