UAE Mechanical, Electrical, & Sanitary Services Market valued at $ 12,946.9M by 2030: P&S Intelligence
NEW YORK, April 13, 2021 / PRNewswire / – The United Arab Emirates is one of the greatest travel destinations in the world because of its lavish lifestyle, lean infrastructure, exciting amusement parks, fascinating Arab culture and fascinating ethnic history. As a result, the travel and tourism sector contributed 5.2% of the country’s gross domestic product (GDP) in 2016, a percentage that the government is looking to increase further. Hence, the resulting construction of infrastructure in this sector is likely to drive the mechanical, electrical and plumbing services market in the UAE $ 3,025.9 million in 2020 to $ 12,946.9 million in 2030 at a CAGR of 15.7% between 2021 and 2030, according to the market research report published by P&S Intelligence.
Much of the infrastructure development will be carried out as part of the Dubai Tourism Vision 2020 and Sharjah Tourism Vision 2021 programs and as part of the preparations for the Dubai Expo 2020 (postponed to 2021). Additionally, given the growing numbers of tourists and immigrants, the market for MEPs services in the UAE is being driven by infrastructure development in the country’s transport sector. As the infrastructure is built, the demand for the design, installation and maintenance of various MEP components and systems will continue to grow.
Key findings from the UAE MEP services market
Construction boom drives demand for MEP services in UAE
The need for sanitary services will grow the fastest in the years to come
The demand for MEP services is highest in commercial spaces
Smart and energy efficient HVAC systems are major market trends
District cooling systems offer players lucrative opportunities
The market is fragmented due to the existence of numerous companies
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The COVID-19 pandemic has had a negative impact on the MEP services market in the UAE due to lockdown measures that have brought construction to a complete halt. In addition, the worldwide shutdowns of production facilities have reduced the range of MEP components and systems. With most of the hotels and other commercial establishments ceasing to operate, the demand for MEPs services in the country fell sharply, further reducing revenue streams for service providers.
The story goes on
Browse the detailed report with COVID-19 Impact Analysis on Mechanical, Electrical, and Plumbing Services Market research report in UAE: By Service Type (Electrical, Mechanical, Plumbing), End User (Residential, Retail, Commercial, Industrial, Government, Healthcare, Hospitality) ) – Industry analysis and growth forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/uae-mechanical-electrical-plumbing-services-market
The hospitality category will see the fastest growth in the consumer space for MEP services in the UAE over the coming years. The United Arab Emirates is home to some of the most famous hotels in the world, including the only 7-star Burj Al Arab and Atlantis the Palm. Many more luxury hotels are under construction in the country, including the WB Abu Dhabi, which is due to be inaugurated this year.
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The major companies in the UAE MEP services market are Al Shafar United Electromechanical Engineering LLC (ASU), SPECON, BK Gulf LLC, AL SHIRAWI ELECTRICAL & MECHANICAL ENGINEERING COMPANY, ALEMCO and Horizon Gulf Electromechanical Services LLC, Al-Futtaim Engineering Company LLC , Elemec Electrical Contracting LLC, James L. Williams Middle East (JLW) and GECO Mechanical & Electrical Ltd.
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SOURCE P&S Intelligence