Mechanical Electrical and Plumbing Services Market in India to grow by USD 2.01 billion

Aug 20, 2023

News provided by

24 Aug, 2023, 11:15 ET

Share this article

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!

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.

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).

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?

Companies Mentioned

Company Offerings

Gain instant access to 17,000+ market research reports.Technavio's SUBSCRIPTION platform

Related Reports:The HDPE pipe market size is estimated to grow at a CAGR of 5.8% between 2022 and 2027. The market size is forecast to increase by USD 6,289.46 million. This HDPE pipe market report extensively covers market segmentation by application (water supply, agricultural irrigation, sewage system, oil and gas, and others), type (PE 100, PE 80, and PE 63), and geography (APAC, North America, Europe, Middle East and Africa, and South America). One of the key factors driving the global HDPE pipe market growth is the growing demand for water supply.

The flooring market size is estimated to grow by USD 158.82 billion between 2022 and 2027 exhibiting a CAGR of 6.14%. This flooring market research report extensively covers market segmentation by End-user (residential and non-residential), Type (non-resilient flooring, resilient flooring, and soft cover flooring), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). Rising demand for eco-friendly and sustainable flooring is a key driver boosting the floor-covering market growth.

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

About USTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio