LONDON--(BUSINESS WIRE)--Technavio has been monitoring the mechanical electrical and plumbing (MEP) services market in North America and it is poised to grow by USD 37.39 billion during 2020-2024, progressing at a CAGR of almost 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
- Based on segmentation by end-user, which is the leading segment in the market?
- The commercial segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Evolving nature of service contracts is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 16%, the incremental growth of the market is anticipated to be USD 37.39 billion.
- Who are the top players in the market?
- Assurance Facility Management, Camelot Facility & Property Management, Caravan Facilities Management LLC, Choice Maintenance, Continuum Services, EMCOR Group Inc., Express Facilities Services Ltd. (EFS), Mace Group, MEP Engineering Inc., and WSP Global Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Risk minimization through outsourcing is one of the major factors driving the market. However, the limited differentiation in services restraints market growth.
- How big is the US market?
- The US region will contribute 60% of market growth.
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, Continuum Services, EMCOR Group Inc., Express Facilities Services Ltd. (EFS), Mace Group, MEP Engineering Inc., and WSP Global Inc are some of the major market participants. The risk minimization through outsourcing will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Mechanical Electrical and Plumbing (MEP) Services Market in North America 2020-2024: Segmentation
Mechanical Electrical and Plumbing (MEP) Services Market in North America is segmented as below:
-
End-user
- Commercial
- Government
- Residential
-
Geography
- US
- Canada
- Mexico
-
Service
- Consulting and Engineering
- Maintenance and Support
- System Integration
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Mechanical Electrical and Plumbing (MEP) Services Market in North America 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The mechanical electrical and plumbing (MEP) services market in North America report covers the following areas:
- Mechanical Electrical and Plumbing (MEP) Services Market Size in North America
- Mechanical Electrical and Plumbing (MEP) Services Market Trends in North America
- Mechanical Electrical and Plumbing (MEP) Services Market Analysis in North America
This study identifies the evolving nature of service contracts as one of the prime reasons driving the mechanical electrical and plumbing (MEP) services market growth in North America during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Mechanical Electrical and Plumbing (MEP) Services Market in North America 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist mechanical electrical and plumbing (MEP) services market growth in North America during the next five years
- Estimation of the mechanical electrical and plumbing (MEP) services market size in North America and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the mechanical electrical and plumbing (MEP) services market in North America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of mechanical electrical and plumbing (MEP) services market vendors in North America
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- 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 2019-2024
- Government - Market size and forecast 2019-2024
- Residential - Market size and forecast 2019-2024
- Market opportunity by end-user
Market Segmentation by Service
- Market segments
- Comparison by Service
- Consulting and engineering - Market size and forecast 2019-2024
- Maintenance and support - Market size and forecast 2019-2024
- System integration - Market size and forecast 2019-2024
- Market opportunity by Service
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- US - Market size and forecast 2019-2024
- Canada - Market size and forecast 2019-2024
- Mexico - Market size and forecast 2019-2024
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Assurance Facility Management
- Camelot Facility & Property Management
- Caravan Facilities Management LLC
- Choice Maintenance
- Continuum Services
- EMCOR Group Inc.
- Express Facilities Services Ltd. (EFS)
- Mace Group
- MEP Engineering Inc.
- WSP Global Inc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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