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Market research analysts at Technavio have predicted that the building energy management services (BEMS) market in the Middle East will grow steadily during the next four years and post a CAGR of more than 19% by 2020. This market research analysis identifies the increasing need to optimize energy consumption as one of the primary factors that will have a positive impact on the growth of the energy management services market in the next few years. Owing to various infrastructure development activities, the Middle East is witnessing a rapid increase in energy consumption. It has been observed that energy consumption in the Middle East was about 770 million tons of oil equivalent (MTOE) during 2015 and is expected to witness a growth rate of over 4% year-over-year during the forecast period. This will induce governments and enterprises in this region to optimize their energy usage. Moreover, the depleting oil resources will compel businesses to invest in alternate energy sources such as solar, wind, and bioenergy, which, in turn, will propel the need for energy management services.
This market research and analysis predicts that in terms of geographical regions, UAE will be the major revenue contributor to the building energy management service market in the Middle East throughout the predicted period. The presence of a number of commercial and residential buildings, international institutions, and advanced hospitals in the region will drive market growth. Additionally, the rise in population and the high rate of consumerism that results in increasing energy consumption will also aid in the growth of the market in this region.
Due to the presence of a several well-established facility management services companies that provide energy management services, this market appears to be highly fragmented. Since all vendors compete to gain maximum revenue shares, the competitive environment among the market players is intense. One of the major market players EFS is a facility management service provider for the commercial, industrial, and institutional sectors and offers energy management services as a part of the facility management services. Whereas, another major energy management company EMS provides customized energy management solutions and services to industrial, commercial, residential, and institutional sectors.
The leading vendors in the market are -
The other prominent vendors in the market are Samama Holding, Musanadah, and Cylon.
During 2015, the maintenance and support services segment accounted for major market shares and dominated this market. The maintenance segment includes services such as predictive and corrective maintenance of electro-mechanical equipment and the support services include remote assistance by specialists to diagnose faults in the system. Though the segment will witness a slight decline in its market share due to innovations in energy management systems, it will continue to dominate the market during the next four years.
In terms of end-user industries, the commercial buildings segment will dominate the market throughout the forecast period. The growth of the real estate industry due to the increased focus of the governments in the region towards infrastructure development and the increasing awareness among enterprises towards the need to manage their facility operations will drive the demand for energy management services in this market segment.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by services
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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