Verkko Global

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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. 
engineering

Overview

market size
  • 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
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