Plumbing, Electrical, Mechanical Services Market Procurement Intelligence Report 2020-2027 | Key Companies: AECOM, Arup Group, Emcor Group, Continum Services, WSP Global | Grand View Research, Inc.

0

Grand View Research, Inc.

The mechanical electrical and plumbing services market in the United States was valued at USD 32.8 billion in 2020 and it is expected to grow at a CAGR of 14.2% by 2027.

Sourcing prospects

Mechanical, electrical and plumbing services in the planning, design and maintenance of different elements of a building which may be classified under one or more of the headings; mechanical, electrical and plumbing services. Commonly referred to as MEP, these services are essential not only during the construction of a building but also during its lifetime. The main services offered by the MEP service provider are HVAC system maintenance, installation and maintenance of power lines and energy circulation, maintenance of pipes and plumbing system to ensure a proper cleaning and water sanitation.

The MEP industry has evolved over the years. In the early 2000s, MEP was considered a specialized service offering. However, with advancements in facilities management, facility management service providers have incorporated elements of mechanical, electrical or plumbing services so that they can provide a comprehensive package with the added value of MEP services. In addition, there is the incorporation of software services that help perform diagnostics of features affected by MEP services.

Demand Outlook

Mechanical Electrical and Plumbing Services Market in United States was valued at USD 32.8 Billion in 2020 and it is expected to grow at a CAGR of 14.2% by 2027. It also holds the largest market share higher among other geographies. Demand for mechanical electrical and plumbing services in the United States will be driven by new construction as well as demand for upgrades and renovations.

The MEP industry is moderately fragmented with the presence of several multinational as well as small local vendors. As such, competition in the pre-COVID era was already high. The COVID pandemic has caused several constructions to be temporarily halted. This has had a negative impact on the mechanical, electrical and plumbing services industry. However, with the effects of the pandemic and the resumption of activities, the construction market is expected to flourish, which would help stimulate the need for MEP services.

Cost Drivers

Integrating software and technology to perform diagnostic checks on different building elements would help with preventative checks and maintenance. Often preventive maintenance is less expensive than reactive repair work. Thus, a capital investment in the form of technology would help reduce the lifetime costs of maintenance work. The integration of software in the MEP industry is expected to increase over the forecast period with several government initiates across the world planning to implement or have already started implementing the smart city project ideas.

Increasing urbanization in APAC countries is driving demand for several types of services, MEP and facilities management being two of them. With this, global players are encroaching on these new developing markets, thereby standardizing market rates and providing services that customers can use to compare the capabilities of different providers before settling on just one. These normalization processes lead to a correction in market prices.

Grab your copy or request a free sample of the “Mechanical, Electrical, and Plumbing Services Industry Purchasing Intelligence Report, Published by Grand View Research” for in-depth details on vendor ranking and selection, l sourcing and pricing criteria and strategies.

Additional services provided by Grand View Research Pipeline:

Cost analysis

Breakdown of costs by components for better negotiation for the customer, highlights the main cost drivers in the market with future price fluctuations for different materials (eg: steel, aluminum, etc.) used in the production process

Comparative rate analysis

Provide cost transparency for the different products/services purchased by the customer. A typical report involves 2-3 case scenarios helping clients select the best fit engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for a specific skill set in order to make a decision on outsourcing versus in-house.

Supplier Newsletter

A typical newsletter study capturing the latest information for specific vendors related to: mergers and acquisitions, technological innovations, expansion, litigation, bankruptcy, etc.

Introducing Pipeline by Grand View Research:

A smart and efficient supply chain is essential to the growth of any organization. Pipeline Division at Grand View Research provides detailed insights into every aspect of the supply chain, helping to make effective sourcing decisions.

Our services include (but are not limited to):

• Market intelligence involving – market size and forecast, growth factors and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownership

• Vendor Intelligence: Detailed insights into the vendor landscape and identification of vendors that dominate, emerge, bask, and specialize

Sourcing / Procurement Intelligence – best practices followed in the industry, identification of standard KPIs and SLAs, peer analysis, negotiation strategies to be used with best-suited suppliers and countries for sourcing to minimize chain disruptions supply

Browse Grand View Research’s collection of procurement intelligence studies:

  • Monitoring the supply of the industrial valves market – The global industrial valves market is valued at USD 50 billion in 2020 and it is expected to grow at a CAGR of 12% from 2020 to 2025 owing to the high demand from the pharmaceutical and healthcare industry post Covid-19. Industrial valves are used in the manufacture of different types of medical devices.
  • IT Asset Recovery Services Market Procurement Intelligence – Global IT Asset Recovery Services Market was valued at USD 13.4 Billion in 2020 and is projected to witness a steady growth of 7.9% to reach USD 19.6 Billion by 2025. The market can be segmented by type of recovered device or by service. type (for example, defabrication and recycling, remarketing and value recovery, destruction, remediation or recovery of data, and logistics management and reverse logistics).

Media Contact
Company Name: Grand View Research, Inc.
Contact: Sherry James, Corporate Sales Specialist – US
E-mail: Send an email
Call: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, USA
Town: San Francisco
State: California
The country: United States
Website: https://www.grandviewresearch.com/pipeline/mechanical-electrical-plumbing-services-industry-procurement-intelligence-report

Share.

Comments are closed.