Engineering Services May Benefit from Increased Infrastructure Spending to Stimulate the Global Economy as COVID-19 Lockdowns Ease - ResearchAndMarkets.com

DUBLIN--()--ResearchAndMarkets.com published a new article on the engineering industry "Engineering Services May Benefit from Increased Infrastructure Spending to Stimulate the Global Economy as COVID-19 Lockdowns Ease"

Engineering services have seen much lower demand during the pandemic. Many construction projects have been postponed or cancelled due to safety concerns or economic uncertainty. A recent survey by the American Council of Engineering Companies reports that 36% of respondents predict that it will take between twelve and eighteen months for the industry to return to normal. Approximately, 90% of those surveyed have applied for Paycheck Protection Program funding and almost all reported that their applications were approved.

Engineering firms with a focus on government projects are likely to be least affected. This is because as more countries ease lockdown restrictions, some governments could increase their investment in infrastructure improvement projects to help stimulate the economy. As construction projects begin to restart, the main priority for the engineering sector will be safety. In the UK, the Building Engineering Services Association and the Electrical Contractors Association have collaborated on new safety guidelines which cover working in environments where there is a high-risk of COVID-19 transmission as well as safety precautions for carrying out essential work in closer proximity than two metres.

To see the full article and a list of related reports on the market, visit "Engineering Services May Benefit from Increased Infrastructure Spending to Stimulate the Global Economy as COVID-19 Lockdowns Ease"

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900