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Mechanical, Electrical, and Plumbing (MEP) Services Market | Detail Segmentation With Forecast 2020-2027

03-18-2020 05:46 AM CET | Industry, Real Estate & Construction

Press release from: Coherent Market Insights

Mechanical, Electrical, and Plumbing (MEP) Services

Mechanical, Electrical, and Plumbing (MEP) Services

Global mechanical, electrical, and plumbing (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 mechanical, electrical, and plumbing (MEP) services market.

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Mechanical, Electrical, and Plumbing (MEP) Services Market: Key Players
EMCOR, Global Facility Solutions, Macro, MEP Engineering, and WSP.

Global Mechanical, Electrical, and Plumbing (MEP) Services Market Taxonomy
On the basis of services:
-Consulting & Engineering
-Maintenance & Support
-System Integration

On the basis of end use:
-Commercial building
-Residential building
-Government building

On the basis of regions:
-North America
-Europe
-Asia Pacific
-Latin America
-Middle East
-Africa

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. Increasing urbanization will present significant demand for the infrastructural development over the next few years.

Increasing infrastructure investments in the developing economies, specifically in the BRIC nations and the requirement to implement energy efficient and reliable building designs are expected to be the major factor driving the growth of the business segment.

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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. Moreover, the related costs associated with the project prototyping, layout designs and time required is significantly reduced. Thus, virtual project planning has gained significant traction in the industry, is expected to be among the key trends that will help the participants garner better margins.

Contact Us:
Name: Mr. Raj Shah
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights:
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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