Mechanical Electrical And Plumbing Services Market in India Size to Grow by $ 1.90 bn through 2021-2025
Technavio research projects the mechanical electrical and plumbing services market in India to grow by $ 1.90 billion, accelerating at a CAGR of almost 17% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
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Mechanical Electrical And Plumbing Services Market in India: Key Market Driver
One of the primary factors that will trigger the growth of the mechanical electrical and plumbing services market in India size is risk minimization through outsourcing. Businesses are inclined to generate profits out of their core processes while divesting or handing over non-profitable/allied processes to third-party vendors that are potentially competent to handle the responsibility. Outsourcing ensures that vendors handle the responsibility of MEP services and possible risks associated with them.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business. Growth in the real estate sector is expected to increase the demand for MEP services in India.
Mechanical Electrical And Plumbing Services Market in India: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Blue Star Ltd., BR MEP Engineers Pvt. Ltd., INI Infrastructure & Engineering, Meinhardt Group, Sense Projects Pvt. Ltd., Sterling and Wilson Powergen Pvt. Ltd., TATA projects, VK Building Services Pvt. Ltd., Voltas Ltd., and WSP Global Inc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The mechanical electrical and plumbing (MEP) services market in India has the potential to grow by USD 1.90 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 16.84%.
This mechanical electrical and plumbing services market in India research report provides valuable insights on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (commercial, government, and residential) and service (consulting and engineering, maintenance and support, and system integration). The report also offers information on several market vendors, including Blue Star Ltd., BR MEP Engineers Pvt. Ltd., and INI Infrastructure & Engineering, among others. View Free Sample Report
Mechanical Electrical And Plumbing Services Market In India: Emerging Trends to Impact Market Growth
Rising construction activities in both the residential and non-residential sectors will increase the demand for MEP services in India. The growth of the construction sector is well complemented by growth in the corporate environment and the demand for office spaces as well as urban and semi-urban accommodations. Growth in the real estate sector is expected to increase the demand for MEP services in India. The rise in commercial building construction boosts the need for effectively managing facilities in the country. Various investments and the growth of the real estate sector in India are expected to fuel the demand for MEP services, which will drive the growth of the market during the forecast period.
Mechanical Electrical And Plumbing Services Market In India: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Blue Star Ltd., BR MEP Engineers Pvt. Ltd., INI Infrastructure & Engineering, Meinhardt Group, Sense Projects Pvt. Ltd., Sterling and Wilson Powergen Pvt. Ltd., TATA projects, VK Building Services Pvt. Ltd., Voltas Ltd., and WSP Global Inc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
