NEW JERSEY, UNITED STATES, December 9, 2021 /EINPresswire.com/ -- Description

New Research Study ""Mechanical, Electrical, and Plumbing (MEP) Services Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook"" has been added to Coherent Market insight

Mechanical electrical and plumbing (MEP) services include the planning, designing, and managing various MEP systems of the building. MEP services are gaining traction with the increasing incorporation of BIM (Building Information Modeling) in building construction, planning, and management. MEP services are an integral part of the residential, commercial, and government buildings.

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The market research on Mechanical, Electrical, and Plumbing (MEP) Services Market provides a comprehensive overview of the industry, including definitions, classifications, applications, and industrial chain frameworks. It sheds light on the most important market characteristics as well as current industry developments. The study examines key sectors in depth to determine what drives market growth, such as trends and opportunities that may have a negative or positive impact on the market in the long run. It also emphasises the numerous applications and sectors. The study includes data that corresponds to historical milestones and current trends. Each segment has been thoroughly researched, with each major element such as market development potential, Mechanical, Electrical, and Plumbing (MEP) Services market dynamics, market CAGR, and market value considered.

Major Key players in this Market:

· EMCOR
· Global Facility Solutions
· Macro
· MEP Engineering
· WSP. M&A

Drivers & Trends

The market forecasts in the Mechanical, Electrical, and Plumbing (MEP) Services industry are based on established research and assumptions based on current drivers and trends. As a result, the research report serves as a repository of analysis and data for every aspect of the market, including applications, SWOT analysis, future potential, new developments, and more. To acquire a firm grasp on the total market, several possible growth factors and hazards are assessed.

Global Mechanical, Electrical, and Plumbing (MEP) Services Market Segmentation :

On the basis of services, the global mechanical, electrical, and plumbing (MEP) services market is classified into:
· Consulting & Engineering
· Maintenance & Support
· System Integration

On the basis of end use, the global mechanical, electrical, and plumbing (MEP) services market is classified into:
· Commercial building
· Residential building
· Government building

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Market Dynamics:

Rapid urbanization in emerging economies and increase in infrastructure projects (such as the emergence of smart cities) is expected to propel the growth of the mechanical, electrical, and plumbing (MEP) services market. For instance, the government of India launched ‘100 Smart Cities Mission’ (an urban renewal and retrofitting program), which aims to tackle key issues resulting from India's rapid urbanization by 2022.

Moreover, increasing number of construction projects worldwide and increasing infrastructure investments are also expected to augment the growth of the mechanical, electrical, and plumbing (MEP) services market. For instance, Qatar is building nine new football stadiums for the 2022 FIFA World. Moreover, in September 2020, SG Blocks received a US$ 2.9 million contract to deliver 7 modular buildings in New Mexico.

Asia Pacific is expected to witness robust growth in the mechanical, electrical, and plumbing (MEP) services market due to the increasing infrastructural activities and the increasing infrastructure investments in the region, especially in India and China. For instance, China approved 26 infrastructure projects with a total expected investment of around 981.7 billion Yuan (US$ 142 billion) in 2019.

Competitive Analysis:

· Major players operating in the mechanical, electrical, and plumbing (MEP) services market are EMCOR, WSP, MEP Engineering, Macro, and Global Facility Solutions.

· Major players in the market are adopting various strategies, such as product launch, merger and acquisition, business expansion, etc., to strengthen their market position. For instance, in February 2021, Robertson Construction appointed engineering and services firm HE Simm to deliver the Mechanical, Electrical and Public Health (MEP) installation at Holland Park, Glasgow for end client Moda Living.

· In February 2021, Emrill received a three-year contract from Arada to deliver MEP, heating, ventilation, and air conditioning (HVAC), lifeguard, housekeeping and specialist services for several locations within Aljada, including the Aljada Discovery Centre.

· In February 2021, REX Engineering Group merged with Integrated Construction Company and Edwards Construction Services to form REX Construction Services.

· In February 2019, Ei Design, Inc. signed an agreement to acquire the MEP business of Wright Engineers to enhance its best-in-class platform in the commercial MEP engineering industry.

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About Coherent Market Insights:-

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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