The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Assurance Facility Management, Camelot Facility & Property Management, Caravan Facilities Management LLC, Choice Maintenance Group LLC, Continuum Services, EMCOR Group Inc., Express Facility Management, Mace Group, MEP Engineering Inc., and WSP Global Inc. are some of the major market participants.
The risk minimization through outsourcing, facilitating infrastructure development, and maximizing profits in facility operations will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Buy the Sample Report Now!
To help businesses improve their market position, the e-commerce logistics market provides a detailed analysis of top vendors operating in the market. Some of these vendors include:
- Assurance Facility Management
- Camelot Facility & Property Management
- Caravan Facilities Management LLC
- Choice Maintenance Group LLC
- Continuum Services
- EMCOR Group Inc.
- Express Facility Management
- Mace Group
- MEP Engineering Inc.
- WSP Global Inc.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Latest Sample Report.
Mechanical Electrical and Plumbing Services Market Segmentation in North America
- End-user
- Commercial
- Government
- Residential
- The commercial segment's market share for mechanical, electrical, and plumbing services in North America will expand significantly. The development of the business sector in the North American region has been aided by improvements in the region's infrastructure. The need to manage many components of a commercial building has since emerged, fueling the expansion of vendors that provide outsourced services.
- Geography
- US
- Canada
- Mexico
- The US will account for 67% of market growth. The market in the US will expand more quickly than those in Canada and Mexico. Over the projection period, the mechanical, electrical, and plumbing services market will rise in the US thanks to ongoing efforts to improve facility performance.
Mechanical Electrical and Plumbing Services Market in North America Driver and Challenge
The mechanical, engineering, and plumbing services market will experience growth over the forecast period as a result of reducing risks through outsourcing. Currently, different business divisions concentrate on making money from their core processes by outsourcing related tasks to outside contractors. Additionally, the outsourcing of support operations to MEP vendors will increase in frequency due to the expanding trend for MEP construction infrastructure and real estate development in North America.
Due to the absence of service differences, local and regional vendors are becoming more competitive with global vendors in the mechanical, electrical, and plumbing services sectors in North America. Customers have more negotiating power because the services provided by many reputable organizations have very slight variations in terms of both quality and performance, which are difficult to evaluate. Vendors are struggling to differentiate their service offerings due to the slower pace of technological advancement in this sector. Read Sample Report.
Related Reports:
Home Services Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The home services market share is expected to increase to USD 5.14 trillion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 36.21%.
Refrigerated Truck Rental Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The refrigerated truck rental market share is expected to increase to USD 2.21 billion from 2021 to 2026, at a CAGR of 4.88%.
Mechanical Electrical And Plumbing (MEP) Services Market In North America Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.19% |
Market growth 2021-2025 |
$ 34.40 billion |
Market structure |
Fragmented |
YoY growth (%) |
13.85 |
Regional analysis |
US, Canada, and Mexico |
Performing market contribution |
US at 67% |
Key consumer countries |
US, Canada, and Mexico |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Assurance Facility Management, Camelot Facility & Property Management, Caravan Facilities Management LLC, Choice Maintenance Group LLC, Continuum Services, EMCOR Group Inc., Express Facility Management, Mace Group, MEP Engineering Inc., and WSP Global Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Commercial - Market size and forecast 2020-2025
- Government - Market size and forecast 2020-2025
- Residential - Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Service
- Market segments
- Comparison by Service
- Consulting and engineering - Market size and forecast 2020-2025
- Maintenance and support - Market size and forecast 2020-2025
- System integration - Market size and forecast 2020-2025
- Market opportunity by Service
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- US - Market size and forecast 2020-2025
- Canada - Market size and forecast 2020-2025
- Mexico - Market size and forecast 2020-2025
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Assurance Facility Management
- Camelot Facility & Property Management
- Caravan Facilities Management LLC
- Choice Maintenance Group LLC
- Continuum Services
- EMCOR Group Inc.
- Express Facility Management
- Mace Group
- MEP Engineering Inc.
- WSP Global Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article