Markets

2020 Engineering Services Market Trend/Forecast

The stability of work and enterprise has taken a few hits in 2020 but it’s not all doom and gloom for many industries. Engineering in particular has a bright future to look forward to.

Engineering services, ranging from aerospace to automotive to telecommunications, has a lot to offer a world that is hungry for boosts to infrastructure and technology.

Where does that leave those looking to reap the benefits of engineering’s desirable position? Let’s dive deep into what the market forecast for 2020 and beyond looks like for the engineering industry. 

Breaking Down the Big Forecast of Engineering Services in 2020

Where exactly are engineering services heating up? Here are five major trends to look forward to in 2020. 

1. Boons in the Markets of Civil Engineering

Civil engineering covers streets and infrastructure for the day-to-day running of cities and countries. As the push toward higher rates of urbanization grows all across the world, city infrastructure needs a massive overhaul.

China and India, with their heavy populations, are at the top of the pile for demand in urban expansion projects. This also includes major projects to private sectors such as healthcare facilities, business sky-rises, and educational infrastructure.

2. Demand for Environmentally-Friendly Engineering

With heavy talks of climate change, a push for environmentally-friendly engineering solutions is a big topic. This includes material changes, better power routing and structures, and installation of solar and wind generators. 

This will be a dynamic push across all facets of engineering, either in the final product or in the production of said product, often both. Pushing this as a sales point will help some companies succeed where others may falter. 

This puts manufacturers of products in the limelight, as a chance to craft better products with less impact will be key. From 3D printing to extrusion and more, manufacturing has some powerful opportunities to step up to the plate.

3. Asia-Pacific Market Booms

Due to the large influx of infrastructure change in both India and China, the Asia-Pacific market is taking in a massive increase in engineering projects. 

This boom in infrastructure includes airports and places of business, attracting many other industries to expand into new markets across Asia. 

4. Competitive Mergers

Engineering has had a competitive marketplace due to several big corporate giants such as AECOM, Bechtel Corporation, and Kiewit Corporation. Competitive mergers and alliances have been rising in recent years, shaping the global engineering industries as a whole.

Many of these mergers and alliances focus around large, singular projects. Projects like the 5.1 mile of US 70 in North Carolina that underwent some positive changes to improve traffic from Balfour Beatty. 

5. Growth in Aviation and Robotics

Outside of the infrastructure of new roads and city planning, the biggest winners for engineering has been both aerospace aviation and robotics. 

India pushes for over 100 new airports across its country, a foundation for the massive expansion of international aviation travel. New airports also boost infrastructure in the area, making collaborations with other companies, like the alliances noted above, a powerful move.

Robotics has been the hot trend for a long while now. From manufacturing to the service industry, the newest elements of robotics are still on everyone’s lips. 

Keeping Connected in Business and More

Engineering services will always have some level of demand in a world of infrastructure and technology. The boons to engineering here come from a unique place of restructuring around the world. As the world grows, engineering will be a pinnacle to support it. From startups to marketing, we here at Feedster have a finger on the pulse of where business can lead you. Check out our other articles today to keep up!

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