Global Engineering Services Market Report and Forecast 2025-2034

Global  Engineering Services Market Outlook

The global engineering services market size reached USD 1168.70 billion in 2024. The market is projected to grow at a CAGR of 4.8% between 2025 and 2034, reaching almost USD 1782.19 billion by 2034.

Key Takeaways

• In the coming years, 90%+ companies are expected to switch towards digital technologies for product and process engineering.

• Rising demand for automation-related services from the aerospace and defence sector is one of the key market trends.

• Off-shore delivery model of engineering services is expected to constitute a major portion of the market share.

With increasing investments in digital technologies by companies to boost their product and processes, the demand for digital engineering services has risen tremendously in recent years. Digital engineering services enable companies to improve their product quality, reduce costs, improve accuracy, and better efficiency of operations, which contributes towards an increase in profit margins.

The offshore delivery of models of engineering services is garnering widespread appeal among corporates and businesses. Offshoring engineering services results in significant cost savings and enables round-the-clock assessment of projects, which drives productivity and efficiency. Moreover, it allows companies to focus on their core competencies while ensuring diversification of risk by operating in multiple locations. This is expected to drive the global engineering services market expansion and innovation in the coming years.

The aerospace and defence sector is expected to emerge as a leading end user of engineering services. This is because of the growing usage of automation-related services for manufacturing aircraft parts and military equipment. The high attention towards the design, strength, and quality of each component is driving the adoption of automated services in the sector, thereby propelling the global engineering services market growth.

Purchase the Regional Overview for USD 1099

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Market Segmentation

Global Engineering Services Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Services

• Product Engineering

• Process Engineering

• Automation Related Services

• Asset Management Related Services

Market Breakup by Delivery Model

• Off-shore

• On-shore

Market Breakup by Industry Vertical

• Aerospace and Defence

• Automotive

• Chemical and Petrochemical

• Utilities

• Mining

• Oil and Gas

• Healthcare

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Major global engineering services market players are focusing on improving service delivery quality and catering to various companies' requirements to improve their product and process planning.

The key market players are STRABAG SE, AECOM, HCL Technologies Ltd., IBM Corporation, Capgemini SE, Infosys Limited, NV5 Global, Inc., Bechtel Corporation, Jones Lang LaSalle IP, Inc., and Kiewit Corporation, among others.

Key Highlights of the Report