Research Report: By Service Type (Electrical, Mechanical, Plumbing), End User (Residential, Retail, Commercial, Industrial, Government, Healthcare, Hospitality) – Industry Analysis and Growth Forecast to 2030.
New York, May 27, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “UAE Mechanical, Electrical and Plumbing Services Market” – https://www.reportlinker.com/p06075963/?utm_source=GNW
The United Arab Emirates is one of the greatest tourist destinations in the world due to its lavish lifestyle, elegant infrastructure, thrilling theme parks, immersive Arab culture, and intriguing ethnic history. As a result, the travel and tourism sector contributed 5.2% of the country’s gross domestic product (GDP) in 2016, a share the government wants to increase further. Therefore, the resulting infrastructure construction in this sector will likely increase the UAE mechanical, electrical and plumbing services market from $ 3,025.9 million in 2020 to $ 12,946.9 million in 2020. 2030, at a CAGR of 15.7% between 2021 and 2030, according to the market research report. published.
Much of the infrastructure development is being carried out under the Dubai Tourism Vision 2020 and Sharjah Tourism Vision 2021 programs and as part of the preparations for the Dubai Expo 2020 (rescheduled for 2021). In addition, the UAE MEP service market is boosted by the development of infrastructure in the country’s transportation sector, given the growing number of tourists and immigrants. With the construction of infrastructure, the demand for the design, installation and maintenance of various MEP components and systems will continue to increase.
The COVID-19 pandemic has negatively impacted the UAE’s MEP service market due to the lockdown measures, which resulted in construction activities being brought to a complete halt. Additionally, shutdowns of manufacturing plants around the world have reduced the supply of MEP components and systems. In addition, as most hotels and other commercial facilities have suspended their operations, the demand for MEP services has decreased significantly in the country, further harming the revenue streams of service providers.
The hospitality category will experience the fastest growth in the UAE MEP service market in the coming years, in the end user segment. The United Arab Emirates is home to some of the most iconic hotels in the world, including the only seven-star hotel, Burj Al Arab, and Atlantis the Palm. Many more luxury hotels are under construction in the country, including the WB Abu Dhabi, which is set to open this year.
The most important companies in the UAE MEP services market are Al Shafar United Electromechanical Engineering LLC (ASU), SPECON, BK Gulf LLC, AL SHIRAWI ELECTRICAL & MECHANICAL ENGINEERING COMPANY, ALEMCO, Horizon Gulf Electromechanical Services LLC, Al-Futtaim Engineering Company LLC. , Elemec Electrical Contracting LLC, James L Williams Middle East (JLW) and GECO Mechanical & Electrical Ltd.
Read the full report: https://www.reportlinker.com/p06075963/?utm_source=GNW
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