DUBLIN--(BUSINESS WIRE)--The "Facility Management Services Market in Middle East 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The facility management services market in Middle East will register a CAGR of over 11% by 2023.
Increasing emphasis on waste reduction initiatives in Middle East have prompted several facility management service companies to incorporate waste management as core function. Facility management vendors are developing long-term waste management frameworks to provide their end-users with efficient waste management solutions. Moreover, stringent regulations to monitor waste disposal is being imposed by several governments of Middle Eastern countries. Thus, the growing emphasis on sustainable waste management is prompting facility management service providers to offer waste management as a key service.
Market Overview
Rapid growth in commercial construction
Commercial construction activities in the Middle East are increasing over the last few years. Initiatives such as the Vision 2030 by Saudi Arabia, and Qatar National Vision 2030 by Qatar are contributing to this rapid growth of commercial construction. UAE is also hosting the high-profile Expo 2020 which have helped in the growth of commercial infrastructure in the country. The transport, hospitality, entertainment, and healthcare sectors are outsourcing their non-core functions to facility management companies. Thus, the rapid growth in commercial construction is driving market growth during the forecast period.
Cost constraints in facility management services
Facility management services is a relatively new concept for the Middle East. The lack of awareness about the benefits of facility management services is prompting the facility management vendors to quote lower prices to survive in this highly competitive market. The intense price-based competition and the lack of awareness is leading to cost constraints in facility management services which in turn is hampering market growth in Middle East.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including BESIX and Farnek the competitive environment is quite intense. Factors such as the rapid growth in commercial construction will provide considerable growth opportunities to facility management service companies in Middle East. BESIX, Farnek, Interserve, Mace Group, and Serco Group are some of the major companies covered in this report.
Summary:
The need for sustainable waste management in Middle East is driving facility management providers to offer waste management services. This will act as a key trend driving the growth of facility management services market in Middle East during the forecast period.
According to the report, one of the major drivers for this market is the rapid growth in commercial construction in Middle East. The commercial construction activities have received a boost by initiatives such as the Vision 2030, and Qatar National Vision 2030. This will be a major factor driving the growth of facility management services market in Middle East.
Further, the report states that one of the major factors hindering the growth of this market is the cost constraints in facility management services due to intense price-based competition and lack of awareness about the benefits of FMS. This hurts the profit margins of vendors and thereby hampers market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SERVICE
- Market segmentation by service
- Comparison by service
- Soft service - Market size and forecast 2018-2023
- Hard service - Market size and forecast 2018-2023
- Market opportunity by service
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Saudi Arabia - Market size and forecast 2018-2023
- UAE - Market size and forecast 2018-2023
- Qatar - Market size and forecast 2018-2023
- Bahrain - Market size and forecast 2018-2023
- Kuwait - Market size and forecast 2018-2023
- Oman - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- BESIX
- Farnek
- Interserve
- Mace Group
- Serco Group
PART 14: APPENDIX
For more information about this report visit https://www.researchandmarkets.com/research/mt4lkn/middle_east?w=4
