MEP (Mechanical, Electrical and Plumbing) Services Market was estimated at USD XX million in 2021 and is expected to show a growth at over 5.2% CAGR between 2022 and 2032.
The mechanical, electrical, and plumbing (MEP) services market includes designing, planning, and managing a buildings MEP system. MEP services are gaining momentum as more projects use BIM (Building Information Modelling) for planning, construction, and management. This market operates majorly in commercial, residential, and government buildings.
MEP Services Market Growth and Trends
Despite the challenges faced during the pandemic crisis, the construction industry is now recovering. The Asia Pacific construction industry grew significantly in 2021 despite economic challenges. Demand for residential construction in big economies remained strong, driving the MEP services market growth. Investments in infrastructure construction also increased. During the fourth quarter of 2021, the demand for commercial properties remained stable as key e-commerce companies created demand for larger commercial spaces and the trend is expected to continue.
China and Japan, for example, are loosening restrictions on home approvals and lending to boost the construction sector, and many banks were providing credit to Chinese property firms in 2021. Also, mortgage lending in China grew from around USD 23 billion (CNY 150 billion) in September 2021 to nearly USD 30 billion (CNY 200 billion) in October 2021. Additionally, transportation construction projects in the region are supporting the demand for MEP services.
In the United Arab Emirates, major projects such as the metro rail expansion project, Route 2020 project, an extension of the red line metro in Dubai, phase III of Etihad Rail, a 1,200-kilometer rail network exporting granulated sulfur, and the Port of Ruwais, support the sales and installation and maintenance demand for MEP services.
Over the past few years, 3D modelling and virtual project planning have gained considerable traction to streamline project costs.
Layouts and cost estimates can be approximated at the outset of a project. Virtual project planning and 3D modelling aid participants in gaining better approximations and exploring design flaws. In addition, the related costs associated with the project prototyping, layout designs, and time required are reduced significantly. Thus, virtual project planning has gained significant traction in the industry, is expected to be among the top trends that will help participants earn higher margins.
Market shares of mechanical, electrical, and plumbing (MEP) services are expected to be dominated by consulting and engineering services through the forecast period.
Major factors driving the growth of the business segment will be increasing infrastructure investments in developing economies, specifically in the BRIC nations as well as energy-efficient and reliable building designs.
Many infrastructural projects are underway in China, India, and Indonesia, which are expected to account for the largest share during the forecast period. Additionally, these countries will benefit from an increased number of commercial activities, such as manufacturing, multi-channel retail, and the IT sector. The demand for upgrading and modernizing existing infrastructure is expected to grow in the U.S. and Europe, resulting in growth for MEP services. Multibillion-dollar projects in the Middle East and the FIFA World Cup in Qatar in 2022 will contribute to the regions rapid growth.
Global Mechanical, Electrical, and Plumbing (MEP) Services Market: Key Developments
Macro, EMCOR, WSP, MEP Engineering, and Global Facility Solutions offer mechanical, electrical, and plumbing (MEP) services. The major players have adopted various strategies, including product launches, mergers and acquisitions, and business expansion, in order to strengthen their market positioning. Robertson Construction awarded HE Simm the contract to deliver a Mechanical, Electrical, and Public Health (MEP) installation for Moda Living at Holland Park in February 2021. Arada awarded Emrill a three-year, $20 million contract in February 2021 to provide MEP, HVAC, lifeguarding, housekeeping, and other services to a number of Aljada locations, including the Aljada Discovery Centre. In February 2021, Integrated Construction Company and Edwards Construction Services merged into REX Construction Services. Ei Design acquired Wright Engineers MEP business earlier this year to enhance its position as a leading commercial MEP engineering company.
Years considered for this report
• Historical Years: Available on Request
• Base Year: 2021
• Forecast Period: 2022-2032
MEP Services Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Service Type Analysis (Revenue, USD Million, 2022 - 2032)
• Electrical
• HV / MV /LV Substations
• UPS Systems
• Lighting Design and Control
• Building Management Systems
• Telephone
• Data and IT Systems
• Security Systems
• Audio Visual Systems
• Home Automation
• Mechanical
• HVAC
• Fire Protection and Suppression
• Sewage Treatment Plants
• Water Treatment Plants
• Irrigation Systems
• District Cooling
• Plumbing
End-User Analysis (Revenue, USD Million, 2022 - 2032)
• Residential
• Retail
• Commercial
• Industrial
• Government
• Healthcare
• Hospitality
By Country (Revenue, USD Million, 2022 - 2032):
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of the World
MEP Services Market companies:
• Assurance Facility Management
• Camelot Facility & Property Management
• Caravan Facilities Management, LLC
• Choice Facility Services & Construction
• Continuum Services
• Crockett Facilities Services, Inc.
• Dohn Engineering PLC
• Ecolab, Inc.
• EMCOR Group, Inc.
• GDI Integrated Facility Services
• Global Facility Solutions Inc.
• Knight Facilities Management, Inc.
• MEP Engineering, Inc.
• Resolute Engineering
• Royal Mechanical Services
• Total Facility Solutions, Inc.
• WSP Global Inc
• XS CAD Limited
Available Versions of MEP Services Market: -
United States MEP Services Market Research Report
Europe MEP Services Market Research Report
Asia Pacific MEP Services Market Research Report
India MEP Services Market Research Report
U.A.E MEP Services Market Research Report
• Customization can be done in the existing research scope to cater to your specific
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Reach out directly to David Correa at his email: - david@marketdecipher.com
