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

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR43964
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The mechanical electrical and plumbing (MEP) services market share in North America is expected to increase by USD 34.40 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 14.19%.

This mechanical electrical and plumbing services market research report of North America provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers MEP services market segmentation in North America by end-user (commercial, government, and residential), service (consulting and engineering, maintenance and support, and system integration), and geography (US, Canada, and Mexico). The mechanical electrical and plumbing services market report of North America also offers information on several market vendors, including 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. among others.

What will the Mechanical Electrical and Plumbing Services Market Size in North America be During the Forecast Period?

Download the Free Report Sample to Unlock the Mechanical Electrical and Plumbing Services Market in North America Size for the Forecast Period and Other Important Statistics

 

Mechanical Electrical and Plumbing Services Market in North America: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The risk minimization through outsourcing is notably driving the mechanical electrical and plumbing services market growth in North America, although factors such as limited differentiation in services may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the mechanical electrical and plumbing services industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Mechanical Electrical and Plumbing Services Market Driver in North America

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

Key Mechanical Electrical and Plumbing Services Market Challenge in North America

Global vendors in the mechanical electrical and plumbing services market in North America are facing increased competition from several local and regional vendors because of the lack of service differentiation. Services offered by many established companies have very minute differences in terms of both quality and performance, which is hard to quantify, thereby increasing the bargaining power of customers. With slower technological innovations taking place in this market, vendors are facing the challenge of differentiating their service offerings. In order to differentiate the service offerings, vendors are trying to enhance the scope of their operations to incorporate a certain degree of customization for end-users. However, with the services being mostly similar, established vendors would face stiff competition during the forecast period. 

This mechanical electrical and plumbing services market analysis report of North America also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Mechanical Electrical and Plumbing Services Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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.
  • WSP Global Inc.

 

This statistical study of the mechanical electrical and plumbing services market in North America encompasses successful business strategies deployed by the key vendors. The MEP services market in North America is fragmented and the vendors are deploying growth strategies such as providing innovative services as part of their service portfolios to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The mechanical electrical and plumbing services market forecast report of North America offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Mechanical Electrical and Plumbing Services Market in North America?

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67% of the market’s growth will originate from the US during the forecast period. Market growth in the US will be faster than the growth of the market in Canada and Mexico.

Continual focus on optimizing facility performance will facilitate the mechanical electrical and plumbing services market growth in the US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Mechanical Electrical and Plumbing Services Market in North America?

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The mechanical electrical and plumbing services market share growth in North America by the commercial segment will be significant during the forecast period. Infrastructural investments in the North American region have contributed to the growth of the commercial sector in the region. Subsequently, the demand for managing various aspects of a commercial building has surfaced, propelling the growth of outsourced service vendors. Technical services involving O&M of electromechanical systems within a facility are driving the revenues for MEP service vendors in the region. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the MEP services market size in North America and actionable market insights on post COVID-19 impact on each segment.

 

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

$ 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

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What are the Key Data Covered in this Mechanical Electrical and Plumbing Services Market Report of North America?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive mechanical electrical and plumbing services market growth in North America during the next five years
  • Precise estimation of the mechanical electrical and plumbing services market size in North America and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the MEP services industry across US, Canada, and Mexico
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of MEP services market vendors in North America 

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Commercial - Market size and forecast 2020-2025
    • Government - Market size and forecast 2020-2025
    • Residential - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Market Segmentation by Service

    • Market segments
    • Comparison by Service
    • Consulting and engineering - Market size and forecast 2020-2025
    • Maintenance and support - Market size and forecast 2020-2025
    • System integration - Market size and forecast 2020-2025
    • Market opportunity by Service

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • US - Market size and forecast 2020-2025
      • Canada - Market size and forecast 2020-2025
      • Mexico - Market size and forecast 2020-2025
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 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.
      • WSP Global Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      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.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The mechanical electrical and plumbing (mep) services market growth will increase by $34.40 billion during 2020-2025.
      The mechanical electrical and plumbing (mep) services market is expected to grow at a CAGR of 14.19% during 2020-2025.
      Technavio has segmented the mechanical electrical and plumbing (mep) services market by end user (Commercial, Government, and Residential) ,service (Consulting and engineering, Maintenance and support, and System integration) , and geographic (US, Canada, and Mexico).
      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., WSP Global Inc. are a few of the key vendors in the mechanical electrical and plumbing (mep) services market.
      US will register the highest growth rate of 66.66% among the other regions. Therefore, the mechanical electrical and plumbing (mep) services market in US is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the mechanical electrical and plumbing (mep) services market growth are:
      • Risk minimization through outsourcing
      • Evolving nature of service contracts
      The mechanical electrical and plumbing (mep) services market vendors should focus on grabbing business opportunities from the commercial segment as it accounted for the largest market share in the base year.
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