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MEP Services Market Detail Analysis focusing on Key Players| EMCOR, Global Facility Solutions, Macro, MEP Engineering, and WSP. M&A.

02-04-2019 02:57 PM CET | Industry, Real Estate & Construction

Press release from: coherenet market insights

MEP Services

MEP Services

MEP services market is consistently driven by increasing infrastructural development worldwide. Mechanical, electrical and plumbing services, including designing, implementation, and maintenance form an integral part of the residential, commercial, and government buildings. Increasing infrastructure development in emerging economies and the requirement of the developed economies to upgrade their existing infrastructure is in turn expected to create highly conducive environment for growth of the global MEP services market.

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Rampant urbanization in emerging economies to present favorable growth prospects

According to World Bank Group, the global urban population growth rate has declined, which witnessed growth of over 2% in 2016. However, the global urban population accounted for over 54% of the globe in 2016. According to UN projections, this is expected to witness considerable surge in the years and will account for 66% of the global population by 2050.

Service outsourcing to ensure timely project completion and ensure fixed costs will present strong growth landscape

Considerable reduction of risks through outsourcing of business operations to MEP services market participants is expected to drive the growth of the business. These vendors handle the mechanical, electrical and plumbing associated tasks with the end users can maintain their focus on their core activities for the construction development.

3D modeling and virtual project planning to streamline the project costs has gained significant traction over the past few years

Preplanning the design layouts and associated approximation of the cots can be approximated at the project initiation. However, these 3D modeling and virtual project planning aids the participants in gaining better approximations and explore design defects.

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Asia Pacific is expected to account for the largest share over the forecast period owing to numerous infrastructural activities taking place in the countries that include China, India and Indonesia. Moreover, growing multitudes of commercial activities that include manufacturing activities, multi-channel retail operations and IT product and service sector in these countries will present considerable growth prospects over the forecast period.

Chief industry participants in the MEP services market include EMCOR, Global Facility Solutions, Macro, MEP Engineering, and WSP. M&A, acquiring service contracts and establishing long term partnerships with the major construction industry participants is expected to remain the major focus of the industry participants to strengthen their industry foothold over the next few years.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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