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The India - mechanical electrical and plumbing services market size is estimated to grow at a CAGR of 15.91% between 2022 and 2027. The market size is forecast to increase by USD 2,280.74 million. The growth of the market depends on several factors such as the rising renewable energy integration, growth in the real estate sector, and maximizing profits in facility operations.
This India mechanical electrical and plumbing services market report extensively covers market segmentation by end-user (commercial, government, and residential), and service (consulting and engineering, maintenance and support, and system integration). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising renewable energy integration is the key factor driving the growth of the market. The focus is increasingly on energy-efficient MEP systems. Renewable energy sources such as solar panels, wind turbines, and biomass generators are integrated with the electrical system to power lighting, HVAC and other building systems. MEP services must integrate solar panels into the building's electrical infrastructure, ensuring full connectivity, energy storage solutions, and synchronization with the main grid.
Moreover, hybrid systems combining conventional energy production with renewable energies are frequently incorporated into the MEP system in modern buildings. The energy supply is assured by the seamless switchover of sources, taking account of availability and demand, in these systems. In order to manage the integration of different energy sources, MEP professionals need to set up sophisticated control systems. Thus, the market will grow significantly during the forecast period as a result of an increasing integration of renewables.
The emergence of building information modeling is the primary trend in the market. Building Information Modeling (BIM) enables construction project stakeholders, including engineers, architects, contractors, and MEP owners to collaborate more effectively by sharing a model. single, centralized digital /image. This reduces conflicts, errors, and rework. BIM provides precise quantities for MEP components, allowing for more accurate cost estimates and budgeting.
In addition, BIM generates detailed and standardized documentation including drawings, schedules, and specifications for the MEP system. This facilitates construction and maintenance operations. BIM facilitates the modernization and renovation of existing buildings by providing accurate construction information and facilitating the integration of new MEP systems. Therefore, the emergence of BIM will drive the growth of the market during the forecast period.
The lack of skilled labor required for MEP services is a challenge that affects the growth of the market. The need for skilled technicians and engineers capable of designing, installing, and maintaining complex MEP systems often exceeds the available workforce. Lack of skilled labor can lead to delays in project progress, which can lead to financial loss and negatively impact overall project progress. Inadequate training and experience of the available workforce can lead to poor quality work, resulting in system failures, inefficiencies, and costs.
Moreover, the lack of skilled labor can lead to the use of unskilled or low-skilled labor, potentially affecting the safety and effectiveness of the MEP system. As a result, the lack of skilled labor will lead to project delays, quality problems, rising costs, and reliance on unskilled labor, which will hinder the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
India Mechanical Electrical and Plumbing Services Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
WSP Global Inc.: The company offers mechanical electrical and plumbing services for all types of buildings, transportation facilities and industry projects according to clients specific requirements.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial segment is estimated to witness significant growth during the forecast period. Investment in infrastructure in India has contributed to the expansion of the country's commercial sector. As a result, there is an increasing need to manage different aspects of commercial buildings. Among several types of commercial buildings covered in the study, office buildings emerged as the major shareholders in the overall MEP services market with the highest market share. Other end users in the hospitality, retail, and healthcare industries will see growth in MEP services.
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The commercial segment was the largest segment and was valued at USD 599.27 million in 2017. MEP services provide integrated fire alarm systems, sprinklers, smoke extraction systems, monitoring, and access control systems. MEP services used in the business segment include HVAC, electrical equipment, central plant maintenance, power distribution systems, low voltage systems such as fire alarm systems, medical gas system design economic and vacuum, wastewater treatment, drainage, and wastewater treatment, as well as water. Therefore, the widespread use of MEP services in the commercial segment will boost the growth of the commercial segment which in turn will drive the growth of the India - mechanical electrical and plumbing services market during the forecast period.
The India mechanical electrical and plumbing services market report forecasts market growth and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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India Mechanical Electrical And Plumbing Services Market Scope |
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Report Coverage |
Details |
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Page number |
127 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.91% |
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Market growth 2023-2027 |
USD 2,280.74 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
17.48 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AEMS ENGINEERS, Anemo Projects Pvt. Ltd, ATOM MEP ENGINEERS PVT LTD, Blue Star Ltd., BR MEP Engineers Pvt. Ltd., CADEOSYS, ELCON INFRASTRUCTURE, INI Infrastructure and Engineering, K.K Technocrats Pvt. Ltd, Mani Engineers Pune, MECELP Project Pvt. Ltd., Meinhardt Group, PillarPlus Pvt. Ltd., QDC India Consulting Pvt Ltd, Sense Projects Pvt. Ltd., Sterling and Wilson Renewable Energy Ltd., The Sona Group, Vaya MEP Engineers Pvt. Ltd., Voltas Ltd., and WSP Global Inc. |
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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. |
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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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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 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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