NEW YORK, Aug. 24, 2023 /PRNewswire/ — The mechanical electrical and plumbing services market in India is to grow by USD 2.01 billion from 2021 to 2026, decelerating at a CAGR of 16.31% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by factors such as risk minimization through outsourcing. Outsourcing various facility-related services helps end users focus on their core businesses. These facility-related services include HVAC, water management, and many other electromechanical support functions. In addition, the increase in urban population facilitates the development of commercial and residential construction. This becomes important for end users to outsource their support processes to MEP companies with the increasing demand in the construction industry. In addition, these MEP providers have the required skills and knowledge to handle such operations. Hence, these factors are expected to drive market growth during the forecast period. – Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2022-2026). Download Sample Report in minutes!
Technavio has announced its latest market research report titled Mechanical Electrical and Plumbing Services Market in India
Mechanical Electrical and Plumbing Services Market In India 2022-2026 – Market Dynamics
Major Trends
Evolving nature of service contracts in the India mechanical electrical and plumbing services market is a major trend in the market. The contractual arrangements in MEP services are gradually evolving towards a long-term relationship between the provider and the end user. As the MEP services market in India is achieving steady growth, the market is increasingly solution oriented. Furthermore, the customer-supplier relationship should shift from a transaction-based nature to a highly collaborative one. The result of this change will allow providers to deliver results-based delivery. Hence, these factors are expected to drive market growth during the forecast period.
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Significant Challenge
Limited differentiation in services is a significant challenge restricting market growth.
Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report! – Request a sample report!
Mechanical Electrical and Plumbing Services Market in India 2022-2026: Market Segmentation
The mechanical electrical and plumbing services market in India analysis includes end-user (commercial, government, and residential) and service (consulting and engineering, maintenance and support, and system integration).
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The mechanical electrical and plumbing services market share growth in India by the commercial segment will be significant during the forecast period. Investment in infrastructure in India has contributed to the expansion of the commercial sector in the country. As a result, there has been an increase in the need to manage various aspects of commercial buildings. Among several types of commercial buildings, office buildings emerged as major shareholders in the overall MEP services market with the highest market share. In addition, the main destinations attracting crowds in the retail sector are shopping malls, entertainment centers, and shopping complexes. Thus, the demand for the services of specialized providers in the retail sector is growing. Hence, such factors are expected to drive segment growth during the forecast period.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
What’s New?
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Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
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Global competitiveness and key competitor positions
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Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Companies Mentioned
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AEMS ENGINEERS
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ATOM MEP ENGINEERS PVT LTD
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Blue Star Ltd
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BR MEP Engineers Pvt. Ltd.
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ELCON INFRASTRUCTURE
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KK TECHNOCRATS PVT LTD
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Mani Engineers Pune
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MECELP Project Pvt. Ltd.
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Meinhardt Group
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MEP Engineering Inc.
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PillarPlus Pvt. Ltd.
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Sense Projects Pvt. Ltd.
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Sterling and Wilson Pvt Ltd
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Vaya MEP Engineers Pvt. Ltd.
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Vee Technologies Pvt. Ltd.
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VK Building Services Pvt. Ltd.
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Voltas Ltd
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WSP Global Inc.
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INI Infrastructure and Engineering
Company Offerings
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Blue Star Ltd. – The company offers mechanical, electrical, and plumbing services through its subsidiary Blue Star M and E Engineering Bhd.
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BR MEP Engineers Pvt. Ltd – The company offers mechanical, electrical, and plumbing services such as hot and cold-water supply system, water filtration system, HVAC installation and ducting systems.
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MEP Engineering Inc. – The company offers mechanical, electrical, and plumbing services for power, lighting, air conditioning, ventilation, water.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End User
7 Market Segmentation by Service
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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Mechanical Electrical and Plumbing Services Market in India
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