The engineering industry grew significantly during the construction boom in 2022; however, it is projected to grow at a more reasonable rate of 4% for the foreseeable future (per VerticalIQ). New construction projects, especially related to renewable technology, infrastructure, and AI data centers are expected to increase demand.
Engineering firms may face difficulties as inflation and the price of materials drive up the cost of construction projects, impacting pricing models.
Employment among engineering firms has been steadily increasing with the demand for new construction projects, according to the Bureau of Labor Statistics.
