Saudi Arabia Facility Management Market: Market Segments: By Service (Property [HVAC Maintenance, Mechanical & Electrical Maintenance], Cleaning, Security, Catering, Support, Environmental Management and Other Services); By End User (Commercial, Residential & Industrial) By Mode (In-House & Outsourced [Integrated, Bundled, Single]); By Type (Hard, Soft and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
For a long period of time Facility Management has become one of the influential sectors yearning for maximum recognition. The development began about a few decades ago when end-users considered the option of outsourcing the operation, maintenance, and other non-core activities related to the facility to a professional company that formed a new industry called FM.
Saudi Arabia Facility Management Market is expected to project a notable CAGR of XX.X% in 2030.
Saudi Arabia Facility Management Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. One of the key factors driving Saudi Arabia’s facility management industry is the increase in construction activities, along with the growth of the tourism sector in the region.
Saudi Arabia Facility Management Market: Segments
Property Services Segment to grow with the highest CAGR of XX.X% during 2019-30
Saudi Arabia Facility Management Market is segmented by service property services (heating, ventilation, and air conditioning (HVAC) maintenance; mechanical and electrical maintenance; and others), cleaning services, security services, catering services, support services, environmental management services, and other services. Property services segment accounted for the larger market share in 2019 and is expected to be the fastest growing category during the forecast period. In order to keep the facility in prime condition, this can be due to the growing need for such facilities; there has also been a strong demand for heating, ventilation and air conditioning (HVAC), mechanical and electrical maintenance services on the premises.
Saudi Arabia Facility Management Market: Market Dynamics
Increasing construction activities in the country
Saudi Arabia’s facilities management sector is largely driven by the rising infrastructure industry, owing to a large number of construction projects at different stages of the country’s implementation. Strong government support, along with rising investment in the sector, is driving the need for facility management services in the region.
Legal marketplace of the country
The country’s stringent staffing policies and labor laws act as the major constraints on the Saudi Arabia facility management market ‘s growth. Overtime dues are some of the main points of labor law; compulsory benefits such as paid leave, sick leave, gender equality, termination of service benefits, health insurance, and termination of employment; and others.
Key Development in Saudi Arabia Facility Management Market
• In February 2020, Engie Cofely, a division of Engie S.A., acquired two contracts for providing facility management services. The company signed an agreement to provide facility management advisory and training services at King Salman Energy Park (SPARK) and International Maritime Industries (IMI), in the country.
Saudi Arabia Facility Management Market: Key Players
• EMCOR Group Inc
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Khidmah LLC
• Interserve plc
• Enova Facility Management
• Rezayat Group
• Musanadah Facilities Management Co. Ltd
• Nesma Trading Co. Ltd
• Al Borj International
• Al Hajry Overseas Co. Ltd.
Saudi Arabia Facility Management Market report also contains analysis on:
Saudi Arabia Facility Management Market Segments:
• Property services
o HVAC maintenance services
o Mechanical and electrical maintenance services
o Other services
• Cleaning services
• Security services
• Catering services
• Support services
• Environmental management services
• Other services
By End User:
• Saudi Arabia Facility Management Market Dynamics
• Saudi Arabia Facility Management Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints