Engineering, Research & Technical Services

Electrical Engineering Services: Market Size, Growth & Forecast to 2030

The Electrical Engineering Services market is valued at about $425 billion (2026) and is projected to grow at a 5.8% CAGR through 2030. The largest cost driver is Skilled Engineering Labor (45% of spend). Asia Pacific leads demand at 40%.

Market size
$425.0 bn (2026)
CAGR to 2030
+5.8%
Buyer power
Favours buyers
Tracked suppliers
1500

Projected market growth to 2030

Market size index, 2026 = 100, at the 5.8% CAGR.

1331221111001002026105.82027111.92028118.42029125.32030132.62031

Cost structure

Skilled Engineering Labor
45%
Electrical Hardware & Components
25%
Raw Materials (Copper, Aluminum & Advanced Polymers)
15%
Software Licences & Digital Tools
10%
Logistics & Project Overhead
5%

Regional demand split

Asia Pacific demand
40%
North America demand
28%
Europe demand
22%
Middle East & Africa demand
6%
Latin America demand
4%

Key suppliers

Siemens AGSchneider Electric SERockwell Automation, Inc.ABB LtdGeneral Electric Company
Read the full Electrical Engineering Services report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/electrical-engineering-services