|
RELEASED: April 2010
After researching the UK consulting engineers market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2005-2009:
Total fees rendered by consultant engineers reached an estimated £12 billion in 2009, representing nominal growth of 15% compared with the previous year. This follows a slightly stronger increase of 20% recorded in the previous year. Overall the value of fees rendered increased by a substantial 93% between 2005 and 2009. Despite the recession and the global financial crisis, consultant engineers are believed to have continued to achieve an overall increase in fees rendered during the latter part of the review period, partly reflecting continued strong public sector spending on major projects, as well as increased overseas turnover, as more companies were looking for contracts abroad as UK workloads dried up.M
MARKET FORECAST 2010-2014:
The market for UK consulting engineers is expected to increase throughout the forecast period up to 2014, with annual growth levels expected to increase from 4% in real terms in 2010 to 6% by the end of the period. Overall, the value of fees rendered by UK consulting engineers is expected to increase by a cumulative 27% in real terms between 2009 and 2014, reaching a projected £15.26 billion in 2014. Energy and environment are expected to be the key sectors that will drive work for consulting engineers over the next five years. The importance of overseas markets to consultant engineers are likely to further increase, at least in the short-term, as consultants engineers are expected to continue to look further afield for work, as the UK economic recovery remains fragile. There are however increased uncertainties concerning future investment levels in sectors dependent on government spending. This is due to the impending general elections, and the different policies of the three main parties, as well as the prospects of future public spending cuts, which will be inevitable, regardless which party will be in power.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Consulting Engineers Market Research Report
MBD WELCOMES PRESS ENQUIRIES:
Press releases on the latest MBD market research reports can be sent to editors and journalists involved in trade magazines.
Full press releases are available, please email your request, along with the magazine title you are writing for, to pressoffice@mbdltd.co.uk.
|
