MEP Services Market in North America to Grow by USD 34.40 billion| Assurance Facility Management and Camelot Facility & Property Management Among Key Vendors | Technavio

The 120-page report on the mechanical electrical and plumbing (MEP) services market in North America has been segmented by end-user (commercial, government, and residential), service (consulting and engineering, maintenance and support, and system integration), and geography (US, Canada, and Mexico).

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Dec 09, 2021, 05:45 ET

NEW YORK, Dec. 9, 2021 /PRNewswire/ -- Factors such as limited differentiation in services may challenge market growth. Global vendors in the mechanical electrical and plumbing services market in North America are facing intense competition from several local and regional vendors due to lack of service differentiation. Services offered by many established companies have very few differences in terms of performance and quality. Such differences are hard to quantify. This increases the bargaining power of customers. As technological innovations taking place in this market are slow, vendors are facing challenges in terms of differentiating their service offerings. To differentiate the offerings, vendors are trying to expand the scope of their operations to incorporate customization for end-users. However, as the services are very similar, established vendors will face stiff competition during the forecast period.

Attractive Opportunities in Mechanical Electrical and Plumbing Services Market in North America by End-user, Service, and Geography - Forecast and Analysis 2021-2025

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The mechanical electrical and plumbing services market in North America is expected to grow by USD 34.40 billion from 2020 to 2025. The growth momentum of the market will accelerate at a CAGR of 14.19%. The market is expected to record year-over-year growth of 13.85% in 2021.

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Mechanical Electrical and Plumbing Services Market in North America: Major Growth Drivers

The risk minimization through outsourcing is driving the growth of the mechanical electrical and plumbing services market growth in North America during the forecast period. Currently, various business units are focusing on generating profits from their core processes by handing over allied processes to third-party vendors. In addition, the outsourcing of support processes to MEP vendors will become more common with the growing trend of MEP construction infrastructure and real estate development in North America. These MEP vendors are handling the responsibility of MEP services and possible risks associated, while end-users can focus more on their core activities. The responsibility of training, retaining, and managing the skilled workforce is also transferred to MEP vendors.

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Mechanical Electrical and Plumbing Services Market in North America: Key Vendor Offerings

Assurance Facility Management: The company offers mechanical, electrical, and plumbing services as per the request of the customer at any point of the day, under the brand name of Assurance Facility Management.
Camelot Facility & Property Management: The company offers mechanical, electrical, and plumbing services by following the policy of one provider, one point of contact, and one invoice with a proactive and predictive maintenance program, under the brand name of Camelot.
Caravan Facilities Management LLC: The company offers mechanical, electrical, and plumbing services by handling HVAC, green planning measures, machine removal, and many more activities, under the brand name of Caravan Facilities.
Choice Maintenance Group LLC: The company offers mechanical, electrical, and plumbing services that include grass cutting, edging, string trimming, blowing off grass, and many more similar activities, under the brand name of Choice Maintenance.
Continuum Services: The company offers mechanical, electrical, and plumbing services at the doorsteps by offering 24-hour service, under the brand name Continuum.

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Reasons to Buy Mechanical Electrical and Plumbing Services Market in North America Report:

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive the growth of the mechanical electrical and plumbing services market in North America during the next five years
Estimation of the size of the mechanical electrical and plumbing services market in North America and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of vendors in the mechanical electrical and plumbing services market in North America

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Mechanical Electrical and Plumbing Services Market Scope in North America
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 14.19%
Market growth 2021-2025	USD 34.40 billion
Market structure	Fragmented
YoY growth (%)	13.85
Regional analysis	North America
Performing market contribution	US at 67%
Key consumer countries	US, Canada, and Mexico
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Assurance Facility Management, Camelot Facility & Property Management, Caravan Facilities Management LLC, Choice Maintenance Group LLC, Continuum Services, EMCOR Group Inc., Express Facility Management, Mace Group, MEP Engineering Inc., and WSP Global Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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