GCC Facility Management Market:
Executive Summary
GCC Facility Management Market: Market Segments: By Service (Property, Cleaning, Security, Catering, Support, Environmental Management and Other Services); By End User (Commercial, Residential, Industrial) By Mode (In-House, Outsourced); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Product Overview
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.
Market Highlights
GCC Facility Management Market is expected to project a notable CAGR of % in 2030.
GCC Facility Management Market to surpass USD million by 2030 from USD million in 2018 at a CAGR of % throughout the forecast period, i.e. 2019-30. The increasing application of facility management in commercial buildings, residential construction projects, infrastructure projects, and industrial projects is driving the growth of the market in GCC countries.
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GCC Facility Management Market: Segments
Cleaning Services Segment to grow with the highest CAGR of % during 2019-30
GCC Facility Management Market is segmented by service into property services, cleaning services, security services, catering services, support services, environmental management services, and other services. Cleaning services segment accounted for the larger market share in 2019 and is expected to be the fastest growing category during the forecast period. Rising competition and high economic pressure linked to regulatory requirements are pushing businesses to assess the way they do business.
GCC Facility Management Market: Market Dynamics
Drivers
Increasing construction activities in GCC countries
The growth of the GCC facility management market is expected to be driven by rising construction activities in GCC countries, increasing green building ventures, a growing tourism industry, and smart management of facilities using advanced technology. The GCC member countries have allocated a high budget to the construction sector as part of their strategic vision, which offers a boost to the facility management market in the GCC countries.
Restraints
Low awareness regarding facility management services
The key constraint in the GCC facility management sector is low knowledge of the facility management industry among end users. Many end users are either not aware of or have not opened up to the notion of outsourcing these services. Organizations are not aware of the idea of facilities management or the benefits it provides and instead view it as an operating expense rather than a function of adding value.
GCC Facility Management Market: Regions
GCC Facility Management Market is segmented based on regional analysis into five major regions. These are Saudi Arabia, U.A.E., Kuwait, Qatar and Rest of GCC.
GCC Facility Management Market in Saudi Arabia held the largest market share of % in the year 2019 followed by UAE with market size of billion owing to rising number of commercial facilities in the countries. In addition, the FM operation is outsourced by the facility operators to concentrate on their core operations. The implementation of innovative technology such as green building techniques and skilled building maintenance is opening up new avenues for market players in the GCC area of facility management. In Qatar, on the other hand, infrastructure expansion makes it one of the most opportunistic market areas for players in the FM industry.
GCC Facility Management Market: Recent Development
• October 2019 – the EFS Facilities Services Group marked accomplishments of flagship projects from large government entities in UAE and Saudi Arabia. The Company has maintained superior performance in its global operations with further expansion into Bangladesh for providing FM services to multinational banking projects concluding a total award of over AED 170 million in contracts.
GCC 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.
• Musanadah Facilities Management Co. Ltd
• Emrill Services LLC
• Cofely Besix Facility Management
• Imdaad LLC
• United Facilities Management
• Farnek Services LLC
• Kharafi National
GCC Facility Management Market report also contains analysis on:
GCC Facility Management Market Segments:
By Service:
• Property services
• Cleaning services
• Security services
• Catering services
• Support services
• Environmental management services
• Other services
By End User:
• Commercial
• Industrial
• Residential
By Mode:
• In-house
• Outsourced
• GCC Facility Management Market Dynamics
• GCC 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
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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