Top Engineering companies in the world in year 2023 data

Top engineering companies in the world in 2022 are expecting a rewarding year after the post-pandemic era. This is because they have engineers with specialized skills and expertise working with advanced technology in numerous disciplines.

Problems and difficulties will always crop up from time to time but the grit and determination shown by engineers and the research and development divisions of the top engineering brands have helped to leave a positive mark on the world economy.

The various types of engineering firms like engineering and design consulting, engineering services, engineering consulting, electrical engineering, mechanical systems, structural engineering, civil engineering, chemical engineering, aerospace engineering, consumer electronics, power generation and mechanical engineering companies are looking to cash in the growth opportunities in the industry to support their nation’s capabilities.

Investments across construction, building, infrastructure, education, transportation, planning, public safety and healthcare etc. bode well for the various businesses as they have the advanced technology to support such initiatives and boost operational efficiencies.

An Overview of 10 Top Engineering Firms in the world in 2023 Based on Market Capitalization

1. Siemens

• Origin Country: Germany
• Founder: Werner von Siemens
• Founded: 1847
• Headquarters: Munich and Berlin, Germany
• Employees in 2022: 303,000
• Annual Revenue in 2022: 77.605 billion USD
• Net Income in 2022: 2.642 billion USD
• Market Value in 2022: 138.710 billion USD
• Market Cap in 2022: 101.64 billion USD

Siemens is the largest engineering company in the world in 2022 based on market capitalization and the largest industrial manufacturing conglomerate in Europe. The technology-focused public company operates through various divisions like infrastructure, transport, healthcare, energy and industry.

Siemens has spread its presence to 190 countries with the help of 285 manufacturing and production plants. Decades of experience, specialized skills, expertise and advanced technology have helped its civil and mechanical engineers to complete safe, secure and energy-efficient projects.

Siemens provides engineering services and a range of electrical engineering and related products that includes building and related products (building fire safety equipment & systems), transportation planning and related products, medical devices (life safety), lighting, energy-related products, industrial plant-related products, drives and automation (compressors for oil & gas pipelines, automation equipment & systems).

Some important engineering and construction projects of Siemens

• Construction of nuclear power plants in Germany
• Siemens Xcelerator (digital business platform to make the digital transformation easy and fast)

2. ABB

• Origin Country: Switzerland
• Founded: 1988
• Headquarters: Zurich, Switzerland
• Employees in 2022: 103,500
• Annual Revenue in 2022: 29.189 billion USD
• Net Income in 2022: 3.983 billion USD
• Market Cap in 2022: 59.08 billion USD

The Swedish-Swiss origin ABB is the second-largest engineering company in the world in 2022 based on market capitalization. The multinational corporation is an electrical engineering company that manufactures electrical equipment. It has expanded its product offerings to include automation technology and robotics.

ABB has been on the list of Global Fortune 500 companies for the last 24 years. The public company is traded on the New York Stock Exchange and the SIX Swiss Exchange.

ABB’s electrical engineering department offers products for residential and commercial buildings, solar inverters, life safety products to protect people, electronic equipment, sensing and measuring devices and electrical overload equipment. In 2021 the company was involved in the construction of an electric road that will power commercial and private vehicles.

Some important engineering and construction projects of ABB

• Azipod – electric propulsion systems that provide steering and thrust functions
• Flexpicker – a robot with a delta design for the packing industry
• Extended Automation System 800xA – for the process industry

3. Emerson Electric

• Origin Country: United States of America
• Founder: John W Emerson
• Founded: 1890
• Headquartered: Ferguson, Missouri, U.S.
• Employees in 2022: 86,700
• Annual Revenue in 2022: 19.629 billion USD
• Net Income in 2022: 3.231 billion USD
• Market Cap in 2022: 56.88 billion USD

Emerson Electric is one of the largest engineering organizations in the world in 2022 based on market capitalization. The Fortune 500 American-origin manufacturer offers engineering and design consulting, engineering services and related products for consumer, industrial and commercial markets.

Emerson has spread its presence to the international market with help of 170 manufacturing facilities. At the onset, the product offerings included electric motors, electric sewing machines and power tools. The company also entered the aerospace market to manufacture aeroplane armament.

Currently, the product portfolio includes process control systems, consumer electronics, professional tools, storage systems, electric motors, power generation technology and climate technologies.

Some important product offerings from Emerson

• Consumer products like compressors for heating
• Valves, controls and system protectors

4. Hitachi

• Origin Country: Japan
• Founder: Namihei Odaira
• Founded: 1910
• Headquartered: Tokyo, Japan
• Employees in 2022: 350,864
• Annual Revenue in 2022: 65.653 billion USD
• Net Income in 2022: 3.204 billion USD
• Market Cap in 2022: 48.61 billion USD

Hitachi is one of the largest engineering organizations in the world in 2022 based on market capitalization. The Japanese conglomerate is associated with several industries like infrastructure, big data, IoT and AI.

Hitachi is one of the largest mechanical engineering companies in the world and offers engineering services through its engineering department and subsidiaries like Hitachi Rail.

The product offerings of Hitachi include automotive systems, construction machinery, defence systems, consumer products, digital media, electronic equipment and systems, industrial systems, social infrastructure, logistics and power systems.

Some important consumer products from Hitachi

• A range of filter solutions to improve the power quality of electric networks
• Consumer products like Hitachi Cordless Drill

5. Neste

• Origin Country: Finland
• Founded: 1948
• Headquarters: Espoo, Finland
• Employees in 2022: 4872
• Annual Revenue in 2022: 15.148 billion EUR
• Net Income in 2022: 136 million EUR
• Market Cap in 2022: 37.41 billion USD

Neste is ranked fifth in the list of the largest engineering organizations in the world in 2022 based on market capitalization. It is the third-largest company in its home country Finland based on revenues.

The company has spread its operations to 14 countries. It is associated with the oil and gas industry and deals in refining, producing and marketing oil products.

Neste also offers engineering services and production technologies. Its operations include oil products, renewable road transportation, renewable polymers and chemicals, renewable aviation and marketing and services.

Some important offerings from Neste

• Largest renewable diesel plant with 800,000 tons annual production capacity
• Chain of service stations

6. Larsen & Toubro

• Origin Country: India
• Founder: Henning Holck-Larsen, Soren Kristian Toubro
• Founded: 1946
• Headquartered: Mumbai, Maharashtra, India
• Employees in 2022: 337,994
• Annual Revenue in 2022: 19.486 billion USD
• Net Income in 2022: 1.085 billion USD
• Market Value in 2022: 35.832 billion USD
• Market Cap in 2022: 34.65 billion USD

Larsen & Toubro is ranked sixth in the list of the largest engineering organizations in the world in 2022 based on market capitalization. It is also amongst the top five construction companies in the world.

The Indian conglomerate was founded by two mechanical engineers who were refugees in India. Larsen & Toubro has spread its presence with help of 35 joint operations companies, 25 joint ventures, 6 associates and 118 subsidiaries.

Larsen & Toubro is associated with several industries like financial services, information technology, technology, manufacturing, construction, civil engineering and mechanical engineering. It has operations across realty, heavy and basic engineering and construction services.

Some important engineering and construction projects of L&T

• Buildings and factories like airports high-rise Towers
• Heavy civil infrastructure like metro rail corridors
• Transportation infrastructures like elevated corridors and railways projects

7. China State Construction Engineering

• Origin Country: China
• Parent: SASAC
• Founded: 1957
• Headquarters: Beijing, China
• Employees in 2022: 368,327
• Annual Revenue in 2022: 1.891 trillion Yuan
• Total sales in 2022: 206 billion USD
• Profit in 2022: 6 billion USD
• Market Value in 2022: 37 billion USD
• Market Cap in 2022: 31.16 billion USD

China State Construction Engineering is the seventh top engineering company in the world in 2022 based on market cap. It is the world’s largest company in the construction industry by revenues and the 8th largest general contractor in the world by overseas sales.

China State Construction Engineering is a state-owned company with SASAC as its parent company. The top mechanical engineering, structural engineering and construction company operates via five departments, twelve core business areas (four design and eight engineering offices) and its national research laboratory.

The business units of China State Construction Engineering include planning and design, trade, project development, equipment leasing and facilities management.

Some important engineering and construction projects of China State Construction Engineering

• Great Mosque of Algiers
• Marriott Hotel, Shanghai
• North Irrigation Project, Jazir, Iraq

8. Kone

• Origin Country: Finland
• Founded: 1910
• Headquartered: Espoo, Finland
• Employees in 2022: 62,720
• Annual Revenue in 2022: 11.707 billion USD
• Net Income in 2022: 0.911 billion USD
• Market Cap in 2022: 25.62 billion USD

Kone is the eighth top engineering company in the world in 2022 based on market cap. It is associated with engineering services and builds and designs elevators, moving walkways, lifts, escalators and automatic doors.

Kone has been a renowned name in the engineering services industry. It was the only escalator and elevator company to be ranked in the Forbes list in 2014. It was ranked 59th position in the 2018 Forbes list.

Some important engineering and construction projects and innovations of Kone

• Kone UltrRope – high-rise elevator technology
• Kone Destination – enables a fast ride from one floor to another in a building

9. Sandvik

• Origin Country: Sweden
• Founder: Goran Fredrik Goransson
• Founded: 1862
• Headquarters: Stockholm, Sweden
• Employees in 2022: 44,133
• Annual Revenue in 2022: 11.556 billion USD
• Net Income in 2022: 1.686 billion USD
• Market Cap in 2022: 22.97 billion USD

Sandvik is the ninth top engineering company in the world in 2022 based on market cap. The company has spread its presence to 160 countries all over the world.

Sandvik is associated with the engineering, mining and infrastructure industries. It specializes in industrial heating, mining and construction, additive manufacturing, digital solutions, engineering services, electric mining equipment, tooling systems, metal cutting tools, industrial technologies and special steel alloys.

Product offerings of Sandvik

• A range of tools and equipment
• Technical solutions and services to increase efficiency

10. WSP Global

• Origin Country: Canada
• Founded: 1959
• Headquartered: Montreal, Quebec, Canada
• Employees in 2022: 48,000
• Annual Revenue in 2022: 8.211 billion USD
• Net Income in 2022: 378 million USD
• Market Value in 2022: 16.554 billion USD
• Market Cap in 2022: 15.02 billion USD

WSP Global is the 10th largest engineering company in the world in 2022 based on market capitalization. The Canadian company has both British and American roots with USA headquarters in New York. It is one of the biggest civil engineering and mechanical engineering companies in the world.

WSP Global offers engineering, consultancy and management services to the natural and built environment. The company has spread its presence to 40 countries with help of 500 offices. It operates with help of subsidiaries and one of the prominent ones WSP USA with headquarters in New York is one of the largest mechanical engineering companies in the world.

WSP Global is associated with several industries like engineering and design consulting, construction consulting, town planning, environment consulting and professional services. The company has enjoyed continued growth and expansion because of prominent acquisitions over the years like Parsons, Brinckerhoff, Kier Group, LTE and Golder etc.

Some important engineering and construction projects of WSP Global

• Perth Arena, Perth, Australia
• Old Oak Common Railway Station, London, UK

Conclusion

The year 2022 has been an exciting year for the engineering industry as it has put its focus on engineering services and construction capabilities. The top engineering companies in the world in 2022 with help of dedicated engineers with specialized skills, expertise and advanced science and technologies have put their full-fledged focus on innovation and development in numerous disciplines that will take the world forward.

Liked this post? Check out the complete series on Lists