Mechanical Electrical and Plumbing Services Market in India to grow by USD 2.01 billion

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24 Aug, 2023, 11:15 ET

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NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The mechanical electrical and plumbing services market in India is to grow by USD 2.01 billion from 2021 to 2026, decelerating at a CAGR of 16.31% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by factors such as risk minimization through outsourcing. Outsourcing various facility-related services helps end users focus on their core businesses. These facility-related services include HVAC, water management, and many other electromechanical support functions. In addition, the increase in urban population facilitates the development of commercial and residential construction. This becomes important for end users to outsource their support processes to MEP companies with the increasing demand in the construction industry. In addition, these MEP providers have the required skills and knowledge to handle such operations. Hence, these factors are expected to drive market growth during the forecast period. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2022-2026). Download Sample Report in minutes!

Mechanical Electrical and Plumbing Services Market In India 2022-2026 - Market Dynamics

Major Trends

Evolving nature of service contracts in the India mechanical electrical and plumbing services market is a major trend in the market. The contractual arrangements in MEP services are gradually evolving towards a long-term relationship between the provider and the end user. As the MEP services market in India is achieving steady growth, the market is increasingly solution oriented. Furthermore, the customer-supplier relationship should shift from a transaction-based nature to a highly collaborative one. The result of this change will allow providers to deliver results-based delivery. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenge

Limited differentiation in services is a significant challenge restricting market growth.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report! - Request a sample report!

Mechanical Electrical and Plumbing Services Market in India 2022-2026: Market Segmentation

The mechanical electrical and plumbing services market in India analysis includes end-user (commercial, government, and residential) and service (consulting and engineering, maintenance and support, and system integration).

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market Segmentation by Service

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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