ACEC Research Institute Releases New Engineering Industry Forecast

Two chemical engineers in front of pipelines

ACEC Research Institute finds industry of 1.5 million has rebounded; firms name tight labor market, lack of qualified workers as barriers to growth.

December 13, 2021
American Council of Engineering Companies

Washington, DC, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Today, the ACEC Research Institute released two new reports on the Engineering and Design Services industry: the 2021 Economic Assessment of the Engineering and Design Services Industry and a new Engineering Business Sentiment report for Q4 2021.

The data shows the industry has rebounded from project postponements due to COVID, though firms identify a tight labor market and lack of qualified workers as continued barriers to growth across public and private markets.

This is the second annual release of the Engineering and Design Services industry assessment, which tracks the industry's economic contributions, analyzes key economic drivers, and forecasts industry growth.

Snapshot of the Engineering and Design Services Industry:

1.5 million direct full- and part-time jobs
$97,300 average yearly wages
$338 billion in industry sales
$198 billion direct economic contribution
$105 billion collected in total federal, state & local tax

Both reports, the 2021 Economic Assessment of the Engineering and Design Services Industry and the Engineering Business Sentiment report for Q4 2021, are available for download by clicking here.

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The ACEC Research Institute is the research arm of the American Council of Engineering Companies – the business association of the nation's engineering industry. The ACEC Research Institute's mission is to deliver knowledge and business strategies that guide and elevate the engineering industry and to be the leading source of knowledge and thought leadership for creating a more sustainable, safe, secure and technically advanced built environment. For more information, go to www.acecresearchinstitute.org.



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