Engineering
- The world engineering and components industry is expected to see continued growth driven by factors like increasing automation, infrastructure development, and technological advancements.
- The engineering and components industry outlook is also expected to be driven by growing investment in transport, industrial, and commercial infrastructure sectors in emerging economies.
Overview
- Market size:
- AS of 2023 the global engineering and components industry possess a market size of whooping 1.87 trillion, reflecting a Compound Annual Growth Rate (CAGR) of approximately 5.6% from 2023 to 2032.
- Challenges:
- Aging infrastructure
- Competition
- Safety and security
- Integration and standardization