Over the five years to 2017, the Engineering Services industry has experienced mixed conditions. Revenue increased at the beginning of the period as increased corporate profit precipitated greater investment in nonresidential construction. Furthermore, the rising price of commodities such as oil helped drive investment in new mining and oil extraction facilities that require significant engineering design, planning and study. However, as commodities tumbled in 2014, demand for engineering services from primary markets, including the mining, oil and gas and energy-production sectors, slackened. Many downstream customers either canceled or postponed major capital expenditure projects, weakening industry growth. The Engineering Services industry is expected to fare better over the next five years, if public infrastructure investment increases. Private investment is expected to also drive new growth, particularly in power-generation engineering services as Canada aims to transition to cleaner energy sources and maintain existing facilities.
Establishments in this industry apply the physical laws and principles of engineering in the design, development and use of machines, materials, instruments, structures, processes and systems. Industry services involve providing advice; preparing plans, designs and feasibility studies; providing technical services during construction or installation activities; inspecting and evaluating engineering projects; and other related services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.