Mechanical, Electrical and Plumbing (MEP) Services Market Growth Accelerated by Growing Construction Sector

Mechanical, Electrical and Plumbing (MEP) Services Market


Mechanical, electrical and plumbing (MEP) services refer to the engineering design and integration of mechanical components, electrical equipment as well as plumbing for commercial, industrial and residential buildings. MEP services help in designing HVAC (heating, ventilation, and air conditioning) and other mechanical systems along with fire suppression, electrical wiring and plumbing works in buildings. With rapid urbanization and growing need for constructed spaces for various purposes, demand for construction activities has increased tremendously over the years. 

The global mechanical, electrical and plumbing services market is estimated to be valued at US$ 1.2 trillion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The growing construction sector has been a major driver of growth for the mechanical, electrical and plumbing services market over the forecast period. Rapid infrastructure development in emerging economies, increasing investments in commercial real estate and public infrastructure are providing ample opportunities for MEP contractors. With increasing construction of malls, hospitals, hotels and other commercial spaces coupled with the rise of smart cities concept globally, demand for integrated MEP services is estimated to grow significantly. Advancements in building technology are also expected to drive the need for specialized MEP solutions to efficiently manage the functioning of modern buildings.

Segment Analysis
The global mechanical, electrical and plumbing services market is comprised of different segments such as mechanical, electrical, and plumbing where plumbing is the dominating segment in this market. Plumbing services include installation and maintenance of water supply system of households and commercial establishments. It is the dominating segment due to rising construction activities in both residential and non-residential sectors across the globe.

Key Takeaways

Global Mechanical, Electrical And Plumbing Services Market Size is expected to witness high growth. Factors such increasing demand from residential sector due to growing population and rising disposable income and increasing construction spending on infrastructure projects by governments across the world are fueling the growth of this market.

Regional analysis: The Asia Pacific region is dominating the global mechanical, electrical and plumbing services market owing to rising economic growth and urbanization in countries like China and India where huge investments are taking place in infrastructure and commercial sectors. North America region is also growing at a significant pace due to increasing uptake of HVAC systems and plumbing fixtures in residential properties.

Key players operating in the mechanical, electrical and plumbing services market are CBRE Group, Cummins, Emcor Group, GL Industrial Services, Honeywell, Jacobs Engineering Group, Schneider Electric, SmithGroupJJR. These players are focusing on new product development and adopting organic and inorganic growth strategies like acquisitions and expansions to increase their global presence in this market.

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