MEP Giants annual design revenue rises, bucking certain trends
While the economy sits at a slow burn, the 2023 MEP Giants firms continue to do well
The 2023 MEP Giants generated $11.96 billion in mechanical, electrical, plumbing (MEP) and fire protection engineering design revenue, an increase over last year’s MEP Giants’ revenue of $11.01 billion. This year, the 2023 MEP Giants earned approximately $67.66 billion in gross annual revenue during the previous fiscal year, a decrease of 4%. Gross revenue was down, however MEP design revenue rose 9% over last year’s numbers.
Noticeably absent from the top 10 was AECOM, a regular to this list. There were also some newcomers to the total of 100 companies. Several companies either joined the list for the first time or returned after time away from reporting data (in alphabetical order): AMA Group; Bard, Rao + Athanas Consulting Engineers LLC; Burdette, Koehler, Murphy & Associates Inc.; Cleary Zimmermann Engineers LLC; The Engineering Enterprise; Interface Engineering Inc.; Kimley-Horn; LEO A DALY; and Lizardos Engineering Associates.
The list this year comprises 54% private companies (down from 59% in 2022), 28% employee-owned companies, 9% public companies and 9% limited-liability companies. The 2023 MEP Giants are made up of consulting engineering firms (63%, up from 60% last year) and architectural engineering firms (29%, even with last year).
Several mergers and acquisitions occurred in the past year; 26% of the firms reporting acquired another company, a slight dip from last year’s 29% acquisition rate.
Table 1 shows the top firms based on MEP design revenue, which is how the MEP Giants are ranked.
Amara Rozgus, Editor-in-Chief, and Amanda McLeman, Director of Research, Consulting-Specifying Engineer