Commissioning Giants’ revenue surges $100 million over last year
The 2023 Commissioning Giants data reports on the top 25 firms
Commissioning Giants insights
- The 2023 Commissioning Giants includes six new companies, which may have affected overall revenue increases.
- Staffing challenges plagued this year’s Commissioning Giants, with nearly half citing hiring or quality as a major challenge.
The 2023 Commissioning Giants provides information on the top 25 firms based on self-reporting for this year’s rankings.
The average percentage of commissioning revenue earned by the 2023 Commissioning Giants was approximately 32.9%, a slight increase from the past reporting year at 30.5% of gross revenue. The top 25 firms earn a great deal of their revenue from commissioning, with four firms earning 100% of their revenue solely from commissioning: Bureau Veritas Primary Integration Inc., Iconicx Critical Solutions, FST-HEA LLC and Rubicon Technical Services.
See Table 1 for the complete ranking, including the six new or previously unranked companies.
For the 2023 report, the top 25 companies made $831.7 million in commissioning revenue, a marked increase from the previous year’s $730 million. The majority (40%) of firms are consulting-engineering firms with a commissioning division; about a quarter (24%) are commissioning-focused firms. Firm ownership type fell into four categories: private (32%), public (24%), limited liability company (24%) and employee-owned (20%).
The average commissioning fee per project varied. About a third (32%) of companies earned $100,001 to $300,000, 28% earned $50,001 to $100,000 and 24% earned $25,001 to $50,000. Only 12% earned more than $300,000 per project.
This data reflects commissioning at all levels: new buildings (46%), whole building (13%), emergency power systems (6%), existing buildings (7%), retro-commissioning (6%), building enclosure (envelope, 5%), monitoring-based (3%), fire protection systems (3%), recommissioning (3%) and communications systems (2%). Each reporting firm completed, on average, 371 projects in the previous reporting year, up from 320 commissioning projects (at any level) in 2022.
According to survey respondents, these firms were contracted to complete commissioning for a variety of reasons: resiliency (safety, flexibility, disaster resilience, health: 88%, no change), savings (energy efficiency, lower life cycle cost: 84%, no change), sustainability (long-term materials and performance efficiency: 88%, a slight uptick from 84%) and mandates (codes, standards, benchmarking: 76%, no change). Other reasons included and marketability of the property (48%, a decrease from 64%).
The 2023 Commissioning Giants study asked about future challenges in commissioning. They are:
Lack of knowledge about commissioning’s worth: 52%.
Not enough commissioning authorities or agents (CxA) or commissioning professionals (CxP): 44%, a large drop from 64%.
Lack of funding or buy-in (from owners, engineers, etc.) to conduct commissioning: 40%, a drop from 52%.
Codes, standards changing: 20%, an uptick from 16%.
Slow market acceptance: 20%, an uptick from 16%.
Association leadership lacking or too slow: 16%, a doubling of 8%.
Litigation concerns: 10%.
Poor training opportunities: 10%.