The research problem in this study is that companies in the design and consulting engineering sector have not been able to sufficiently improve the value they generate for their customers in an economically sustainable way and at the same time benefit from co-created value themselves. The purpose of this master thesis is to improve customer value in the consulting engineering sector. The aim of this study is to clarify the concept and nature of customer value and to stimulate discussion between industry and stakeholders. This research strengthens and develops knowledge about the formation of the value and the customer value generated by design and consulting engineering services. This research supports companies in the field in developing and improving customer value. The study included a literature review and ten semi-structured theme interviews. The study was limited to examine customer value, value creation and formation, the value received by the customer as well as the supplier and the current state of value-based pricing from the perspective of knowledge-intensive business service firms. The study was limited to companies providing industrial and construction professional services and interviewees were selected from these companies. According to the study, the customer value in the consulting engineering sector appears to the client as direct and indirect benefits which can be measured or justified in money and which customers perceive to have realistic monetary value in the relevant period. This definition also considers that customer value is based on customer perception and even if the benefits produced could be measured in money or otherwise justified as valuable, the customer still needs to experience they have monetary value. Producing use value for the customer is the core of professional services. In the consulting engineering sector, the value is co-created, and the value created accumulates over time when the solutions of the services are utilized. The study identified many different forms of value received by the customer as well as the supplier. However, these can be classified direct monetary, indirect monetary and non-monetary benefits. The interviews revealed that companies do not actually use value-based pricing. Even though the value-based pricing is a familiar concept, it is perceived as difficult to exploit in the consulting engineering sector. The most significant challenges include the lack of practice, lack of expertise, definition and measurement of value, perceived risk, and lack of support from senior management. As a result, the study found out the perceptions of companies in the sector about customer value and its creation as well as the value that projects created for customers and suppliers. The results of the study strengthen knowledge about customer value and value creation. The results provide an answer to the research problem, which makes it possible to improve customer value in a financially sustainable way. For further research, more detailed company-specific reviews of value distribution and additional research on value-based pricing are recommended.