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 mechan