We recently compiled a list of the 15 Best Countries to Study Engineering in the World. But in this article, we will focus our attention at the best country to study engineering in the world.
Overview of the Global Engineering Services Industry
According to a report by Mordor Intelligence, the global engineering services industry has remained resilient over the years, with a market size worth $1.67 trillion as of 2024. It is expected to grow its market size to $2.04 trillion by 2029 at a compound annual growth rate (CAGR) of 4.20% between 2024 and 2029. Although the largest market for the engineering services industry is centered in the Asia Pacific region, the Middle East and Africa are showing the fastest market growth globally.
One of the primary drivers of growth in the engineering services industry is the rising demand for infrastructure and the need for specialized skills across infrastructure projects. Since infrastructure projects are complicated and strenuous, the demand for innovative engineering services continues to grow. In fact, data from the US Census Bureau shows that the value of infrastructure building in the US rose from $1808.34 billion to $1844.10 billion between October 2022 and February 2023. The surge in the use of digital technologies such as Artificial Intelligence, cloud computing, and IoT is also a primary force driving the market.
Engineering Jobs Outlook: What Does the Future Look Like for Engineers?
According to the Bureau of Labor Statistics, engineers had a median annual pay of $91,420 in May 2023, considerably higher than the median yearly wage for all occupations: $48,060. Engineering field projects are also projected to have a faster-than-average employment growth between 2022 and 2032, creating approximately 188,000 new job openings yearly. Women are also taking an increased interest in the field, with more than 249,000 bachelor’s degrees in engineering awarded to women in the 2020-2021 academic year in the US. According to the Society of Women Engineers, despite the number of women attaining degrees remaining relatively the same, the number of women earning bachelor’s degrees in engineering and computer science has more than doubled between 2011 and 2020.
Further estimates by the Bureau of Labor Statistics show that 76% of individuals with an engineering degree opt for occupations in architecture and engineering, management, computer and mathematical fields, business and financial operations, and sales. You can look at Number of Engineers by Country: Top 20 for more insight.
Prominent Players in the Engineering Sector
With the future showing an ever-increasing demand for engineers, prominent companies across the world are recognizing these trends and revamping their operation methods to solidify their position in the sector. Fluor Corporation (NYSE:FLR) is a prominent player in the industry. Headquartered in Irving, Texas, this multinational engineering and construction firm functions as a holding company providing services in three primary areas through its subsidiaries, including oil and gas, government and power, and industrial and infrastructure. Widely hailed as the largest publicly traded engineering and construction company, Fluor Corporation (NYSE:FLR) was founded in 1912 as Fluor Construction Company. It expanded by building pipelines, oil refineries, and other oil and gas industry-related facilities, diversifying its construction work into a wide array of facilities, including equipment rentals, nuclear waste cleanup projects, and other environmental projects. The company also undertook historically significant projects, including those related to the Manhatten Project, recovery from Hurricane Katrina, construction of the Trans-Alaska Pipeline System, and rebuilding plans after the Iraq War.
On July 29, the company announced the signing of a contract with RoPower Nuclear for the continuation of its Phase 2 front-end engineering and design (FEED) work at its small modular reactor (SMR) facility located in Doicesti, Romania. This contract will be recognized as a new award in Q3 2024 and will allow the company to utilize NuScale Power’s SMR technology to produce carbon-free power. The contract will thus prove to be a significant landmark in the country’s progress in clean energy initiatives. Fluor Corporation (NYSE:FLR) has over 40,000 employees in over 60 countries, holding experience in engineering, supply chain, technology, and other relevant fields.
Now that we have taken an overview of the engineering sector, let’s look at the best country to study engineering in the world. You can also look at 15 Highest Paying Countries for Biomedical Engineers and 20 Highest Paying Countries for Civil Engineers.
The Best Country to Study Engineering in the World
Our Methodology
To compile a list of the 15 best countries to study engineering in the world, we consulted the QS World Ranking 2024 and made a list of the countries that appeared in the list of the top 100 schools in engineering and technology. We then consulted the Insider Monkey Global Education Index and ranked the countries according to the number of universities among the top 1,000 on the QS university ranking. We also consulted reputable online sources and Reddit threads to keep public consideration in view. We then picked the top 15 countries and arranged our list in ascending order of the number of universities ranked among the top 1,000 on the QS university ranking.
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The Best Country to Study Engineering in the World
1. USA
Top University for Engineering: Massachusetts Institute of Technology (MIT)
QS World University Ranking 2024 for Engineering and Technology: 1
Number of Universities in the Top 1,000 QS Universities as per Insider Monkey Global Education Index: 142
The United States of America ranks first on our list of the 15 best countries to study engineering in the world. The country is famous for its prestigious education system, and has the highest number of universities ranked among the top 1,000 QS universities. Massachusetts Institute of Technology, commonly known as MIT, is one of the top institutes across the globe, and the best university to study engineering in the world. MIT takes the first spot on the QS World University Ranking 2024 list for engineering and technology. With a 4% acceptance rate and a 96% graduation rate, MIT is a private research university located in Cambridge, Massachusetts, and has been around since 1861. Research undertaken at the institute has played a significant role in advancing science and technology. The institute has an undergraduate enrollment of 4,638 as of the academic year 2021-2022.
Interested in learning which other countries are the best to study engineering in the world? Read our detailed report on 15 Best Countries to Study Engineering in the World.
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