The Europe engineering professional services market was valued at US$ 718.54 million in 2023 and is expected to reach US$ 1.35 billion by 2031; it is estimated to register a CAGR of 8.2% from 2023 to 2031.
In contrast, in 2019, the country witnessed a 0.31% increase in urban population from 2018. As over 80% of the world's GDP is generated in urban centers, effective management of urbanization has the potential to foster sustainable growth by enhancing productivity and fostering innovation. Thus, the surge in demand for civil engineering services owing to rapid urbanization drives the Europe engineering professional services market.
They offer a range of services, from consulting and design to construction management, emphasizing efficiency and innovative solutions while maximizing clients' finite capital budgets. In May 2023, Accenture reached an agreement to purchase Objectivity, a digital engineering firm specializing in cloud and platform development services aimed at facilitating clients' rapid innovation and transformation journey. The specific terms of the deal were not disclosed. Following this acquisition, Objectivity will bring additional scale and resources from its operations in the UK, Poland, Germany, and Mauritius.
Objectivity's significant expertise in platform engineering, cloud-native computing, and application modernization will enhance Accenture's Cloud First capabilities, enabling clients to leverage more open and adaptable platform models and services to expedite their digital transformation initiatives, further boosting the Europe engineering professional services market in Europe.
Surge in Demand for Civil Engineering Services Owing to Rapid Urbanization Fuel Europe Engineering Professional Services Market
Rapid urbanization is majorly affecting the overall business of civil engineering services as it fuels the need for infrastructure development, real estate growth, and overall economic expansion. According to the World Bank, as of April 2023, approximately 56% of the global populace, totaling 4.4 billion individuals, resides in urban areas. Projections indicate that this trend will persist, leading to a more than twofold increase in the urban population by 2050, with approximately 7 out of 10 people expected to settle in cities. For instance, according to the data provided by the German government in 2022, the country witnessed a 1.2% growth in urban population from 2021 to 2022.In contrast, in 2019, the country witnessed a 0.31% increase in urban population from 2018. As over 80% of the world's GDP is generated in urban centers, effective management of urbanization has the potential to foster sustainable growth by enhancing productivity and fostering innovation. Thus, the surge in demand for civil engineering services owing to rapid urbanization drives the Europe engineering professional services market.
Europe Engineering Professional Services Market Overview
In Europe, the engineering professional services market encompasses a wide range of services, including designing and construction, Environmental, Social, and Governance (ESG), and program management. Engineering professional services in Europe related to design and construction involve providing specialized solutions for various projects, such as water and wastewater treatment. This includes consulting, design, construction management, and program management, with a focus on technical expertise, local presence, and a client-first approach. Companies such as ESG Engineering, specializing in providing client-focused engineering and construction solutions, are striving to exceed client expectations and industry standards.They offer a range of services, from consulting and design to construction management, emphasizing efficiency and innovative solutions while maximizing clients' finite capital budgets. In May 2023, Accenture reached an agreement to purchase Objectivity, a digital engineering firm specializing in cloud and platform development services aimed at facilitating clients' rapid innovation and transformation journey. The specific terms of the deal were not disclosed. Following this acquisition, Objectivity will bring additional scale and resources from its operations in the UK, Poland, Germany, and Mauritius.
Objectivity's significant expertise in platform engineering, cloud-native computing, and application modernization will enhance Accenture's Cloud First capabilities, enabling clients to leverage more open and adaptable platform models and services to expedite their digital transformation initiatives, further boosting the Europe engineering professional services market in Europe.
Europe Engineering Professional Services Market Segmentation
- The Europe engineering professional services market is categorized into type, service type, sector, vertical, and country.
- Based on type, the Europe engineering professional services market is bifurcated consulting and non-consulting. The consulting segment held a larger market share in 2023.
- In terms of service type, the Europe engineering professional services market is categorized into designing and construction, ESG, program management, and others. The designing and construction segment held the largest market share in 2023.
- By sector, the Europe engineering professional services market is bifurcated into private and public. The private segment held a larger market share in 2023.
- In terms of vertical, the Europe engineering professional services market is categorized into advanced manufacturing, infrastructure, energy and utilities, environmental, transportation, and water. The transportation segment held the largest market share in 2023. The advanced manufacturing segment is further sub segmented data center, life sciences, electronics and semiconductor, Ev and Ev battery, and others. The infrastructure segment is further subsegmented buildings and cities, health infrastructure, telecommunication infrastructure, and others. The energy and utilities segment is further subsegmented renewables, energy storage, and transmission and distribution. The transportation segment is further sub segmented aviation, highways and bridges, ports and maritime, and rail and transit. The water segment is further sub segmented water and wastewater.
- By country, the Europe engineering professional services market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe engineering professional services market share in 2023.
- Accenture Plc, Capgemini SE, COWI A/S, DB Engineering & Consulting, Deloitte Touche Tohmatsu Ltd, Larsen & Toubro Ltd, McKinsey & Co Inc, Sweco AB, Tata Consultancy Services Ltd, and Wipro Ltd are some of the leading companies operating in the Europe engineering professional services market.
Market Highlights
- Based on type, the Europe engineering professional services market is bifurcated consulting and non-consulting. The consulting segment held 64.2% market share in 2023, amassing US$ 461.22 million. It is projected to garner US$ 888.91 million by 2031 to register 8.5% CAGR during 2023-2031.
- In terms of service type, the Europe engineering professional services market is categorized into designing and construction, ESG, program management, and others. The designing and construction segment held 50.4% share of Europe engineering professional services market in 2023, amassing US$ 362.08 million. It is anticipated to garner US$ 701.90 million by 2031 to expand at 8.6% CAGR during 2023-2031.
- The private segment held 70.3% market share in 2023, amassing US$ 505.13 million. It is projected to garner US$ 972.71 million by 2031 to register 8.5% CAGR during 2023-2031.
- In terms of vertical, the Europe engineering professional services market is categorized into advanced manufacturing, infrastructure, energy and utilities, environmental, transportation, and others. The transportation segment held 33.2% market share in 2023, amassing US$ 238.52 million. It is projected to garner US$ 412.02 million by 2031 to register 7.1% CAGR during 2023-2031. The advanced manufacturing segment is further subsegmented data center, life sciences, electronics and semiconductor, Ev and Ev battery, and others. The infrastructure segment is further subsegmented buildings and cities, health infrastructure, telecommunication infrastructure, and others. The energy and utilities segment is further subsegmented renewables, energy storage, and transmission and distribution. The transportation segment is further subsegmented aviation, highways and bridges, ports and maritime, and rail and transit. The water segment is further subsegmented water and wastewater.
- This analysis states that the Rest of Europe captured 42.7% share of Europe engineering professional services market in 2023. It was assessed at US$ 306.69 million in 2023 and is likely to hit US$ 566.24 million by 2030, registering a CAGR of 8.0% during 2023-2031.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe engineering professional services market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Europe engineering professional services market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe engineering professional services market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Engineering Professional Services Market Landscape
5. Europe Engineering Professional Services Market - Key Market Dynamics
6. Engineering Professional Services Market - Europe Analysis
7. Europe Engineering Professional Services Market Analysis - by Type
8. Europe Engineering Professional Services Market Analysis - by Service Type
9. Europe Engineering Professional Services Market Analysis by Sector
10. Europe Engineering Professional Services Market Analysis - by Vertical
11. Europe Engineering Professional Services Market - Country Analysis
12. Competitive Landscape
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the Europe Engineering Professional Services market include:- Accenture Plc
- Capgemini SE
- COWI A/S
- DB Engineering & Consulting
- Deloitte Touche Tohmatsu Ltd
- Larsen & Toubro Ltd
- McKinsey & Co Inc
- Sweco AB
- Tata Consultancy Services Ltd
- Wipro Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 718.54 Million |
| Forecasted Market Value ( USD | $ 1350 Million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 11 |
