Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "GCC Facility Management Market Research Report: By Service (Property, Cleaning, Security, Catering, Support, Environmental Management), End User (Commercial, Industrial, Residential), Mode (In-house, Outsourced) - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Gulf Cooperation Council (GCC) facility management market reached a value of $53,804.3 million in 2019 and is predicted to progress at a CAGR of 10.1% between 2020 and 2030. According to the estimates, the market will generate a revenue of $137,297.8 million by 2030.
The market is being driven by the rising requirement for facility management services in residential and commercial buildings, industrial units, and civil infrastructure projects.
Additionally, the launch of several development programs such as the Qatar National Vision 2030, the Saudi Vision 2030, the U.A.E. Vision 2021, and the Kuwait National Development Plan in GCC countries, on account of the government's plan to fuel the expansion of various sectors, is also propelling the advancement of the GCC facility management market. The construction sector is predicted to exhibit rapid expansion in the forthcoming years, on account of presence of favorable economic conditions and surging tourism activities.
As part of various strategic visions, the member nations in GCC are allocating high budgets to the construction industry. This will eventually push up the requirement for facility management services in the region in the forthcoming years. Moreover, these nations are focusing on decreasing their economic reliance on the revenue generated by the oil and gas industry. As per reports and surveys, the governments of GCC nations will increase their investments.
The rising requirement for sustainable development is another important factor fueling the progress of the GCC facility management market. The expansion of the travel & tourism industry is a major factor responsible for the rapid economic progress of the GCC countries. Supported by the implementation of government policies, the hospitality, tourism, and travel industries of the GCC countries are registering huge growth. Based on end user, the GCC facility management market is divided into residential, industrial, and commercial categories.
Amongst these, the commercial category recorded the highest growth in the market during the past few years, on account of the huge investments in commercial real estate in the region. The National Transformation Program (NTP) 2020 was launched in 2016 for meeting the objectives and aims of the Saudi Vision 2030. Under this initiative, huge investments are being made for the accelerating the development of the region's private sector. This is, in turn, propelling the demand for facility management services.
Globally, the GCC facility management market is predicted to demonstrate huge expansion in Saudi Arabia in the coming years. This will be because of the launch of several real estate projects such as the Al Widyan by 2020, Red Sea Project by 2030, and Amaala by 2028 in the country. These projects will provide immense growth opportunities for the players operating in the industry. Many global organizations are announcing partnerships and collaborations with domestic firms for expanding their customer base.
Hence, it can be said with full surety that the market will register huge growth in the future years, mainly because of the launch of various development programs and the expansion of the travel & tourism industry in the region.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Service
188.8.131.52.1 HVAC maintenance
184.108.40.206.2 Mechanical & electrical maintenance
220.127.116.11 Environmental management
4.1.2 By End User
4.1.3 By Mode
4.1.4 By Type
4.2 Market Dynamics
18.104.22.168 Regulatory and economic development in GCC countries
22.214.171.124 Evolution of outsourced facility management services
126.96.36.199 Increasing construction activities in GCC countries
188.8.131.52 Rising number of green building projects
184.108.40.206 Growing tourism industry
220.127.116.11 Smart facility management using advanced technologies
18.104.22.168 Impact analysis of drivers on the market forecast
22.214.171.124 Low awareness regarding facility management services
126.96.36.199 Workforce management issues
188.8.131.52 Impact analysis of restraints on the market forecast
184.108.40.206 Adoption of IoT
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Chapter 5. GCC Market Size and Forecast
5.1 By Service
5.1.1 Property Services, by Type
5.2 By End User
5.3 By Mode
5.3.1 Outsourced Services, by Type
5.4 By Type
5.5 By Country
Chapter 6. Saudi Arabia Market Size and Forecast
Chapter 7. U.A.E. Market Size and Forecast
Chapter 8. Kuwait Market Size and Forecast
Chapter 9. Qatar Market Size and Forecast
Chapter 10. Rest of GCC Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Key Offerings of Key Players
11.2 List of Other Players
11.3 Strategic Developments of Key Players
Chapter 12. Company Profiles
EMCOR Group Inc.
Musanadah Facilities Management Co. Ltd.
Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E
United Facilities Management
Emrill Services LLC
Farnek Services LLC
O&G Engineering W.L.L.
Fawaz Trading & Engineering Services Co. W.L.L.
Al Mazaya Holding Company
Al-Awsat United Real Estate Co.
R&E Petroleum Co.
Refrigeration Industries & Storage Company
Al-Asmakh Facilities Management W.L.L.
COMO Facilities Management Services
OCS Qatar LLC
CBM Qatar LLC
Elegancia Hospitality & Facility Management Services
Al Tamyoz Business Group
Conservo Facility Management Co. W.L.L.
Confident Enterprises W.L.L.
AMWAJ Catering Services
Al Shirawi Facilities Management LLC
Etisalat Facilities Management LLC
Transguard Group LLC
Blue Diamond Facilities Management LLC
Reliance Facilities Management
Deyaar Development PJSC
Muheel Services LLC
Enova Facility Management
Nesma Trading Co. Ltd.
Al Borj International
Al Hajry Overseas Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/crmrtl
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