Saudi Arabia Facility Management Market to Reach $51,616.2 Million by 2024

Press Release

The Saudi Arabia facility management market generated $29,563.2 million in revenue in 2018, and it is expected to grow to $51,616.2 million in 2024, advancing at a CAGR of 9.7% during forecast period (2019–2024). The factors driving the progress of the market are the expanding tourism industry and increasing application of facility management in residential construction, infrastructure, industrial projects, and commercial buildings. Facility management services back the core operations of a specific company, which include property, security, catering, and cleaning.

In recent times, due to the growing construction sector, backed by the rising government spending on infrastructure development, facility management has been Seen as one of the most favorable industries in Saudi Arabia for investors. The country has nearly $1.0 trillion worth of construction projects planned or under construction. These ongoing projects are predicted to offer tremendous growth opportunities to the Saudi facility management market players. Companies around the globe, are coming into partnership with local players in order to enter the market and efficiently serve it.

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On the basis of end user, the Saudi Arabian facility management market is divided into residential, commercial, and industrial, out of which, in 2018, the commercial sector held the largest share in the market, accounting for a revenue contribution of more than 40.0%. Under Saudi Arabia’s Vision 2030, the country is expanding its economy by concentrating on the growth of non-petrochemical based sectors. As a result, it is observing large-scale development of hotels, malls, commercial centers, and various other commercial spaces, which is anticipated to escalate the demand for facility management services.

Competitive Landscape

Some of the major players operating in the facility management industry are EMCOR Group Inc., Khidmah LLC, Interserve plc, Enova Facility Management, Saudi Oger Ltd., Rezayat Group, Musanadah Facilities Management Co. Ltd., Nesma Trading Co. Ltd., Al Borj International, and Petrojana.

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SAUDI ARABIA FACILITY MANAGEMENT MARKET SEGMENTATION

By Service

  • Property
    • HVAC Maintenance
    • Mechanical and electrical maintenance
    • Others
  • Cleaning
  • Security
  • Catering
  • Support
  • Environmental Management
  • Others

By End User

  • Commercial
  • Residential
  • Industrial

By Mode

  • In-House
  • Outsourced
    • Integrated
    • Bundled
    • Single

By Type

  • Hard
  • Soft
  • Others

The Saudi Arabia facility management market generated $29,563.2 million in revenue in 2018, and it is expected to grow to $51,616.2 million in 2024, advancing at a CAGR of 9.7% during forecast period (2019–2024). The factors driving the progress of the market are the expanding tourism industry and increasing application of facility management in residential construction, infrastructure, industrial projects, and commercial buildings. Facility management services back the core operations of a specific company, which include property, security, catering, and cleaning.

In recent times, due to the growing construction sector, backed by the rising government spending on infrastructure development, facility management has been Seen as one of the most favorable industries in Saudi Arabia for investors. The country has nearly $1.0 trillion worth of construction projects planned or under construction. These ongoing projects are predicted to offer tremendous growth opportunities to the Saudi facility management market players. Companies around the globe, are coming into partnership with local players in order to enter the market and efficiently serve it.

Get free report sample copy at: https://www.psmarketresearch.com/market-analysis/saudi-arabia-facility-management-market/report-sample

On the basis of end user, the Saudi Arabian facility management market is divided into residential, commercial, and industrial, out of which, in 2018, the commercial sector held the largest share in the market, accounting for a revenue contribution of more than 40.0%. Under Saudi Arabia’s Vision 2030, the country is expanding its economy by concentrating on the growth of non-petrochemical based sectors. As a result, it is observing large-scale development of hotels, malls, commercial centers, and various other commercial spaces, which is anticipated to escalate the demand for facility management services.

Competitive Landscape

Some of the major players operating in the facility management industry are EMCOR Group Inc., Khidmah LLC, Interserve plc, Enova Facility Management, Saudi Oger Ltd., Rezayat Group, Musanadah Facilities Management Co. Ltd., Nesma Trading Co. Ltd., Al Borj International, and Petrojana.

Make enquiry before purchase at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=saudi-arabia-facility-management-market

SAUDI ARABIA FACILITY MANAGEMENT MARKET SEGMENTATION

By Service

Property
HVAC Maintenance
Mechanical and electrical maintenance
Others
Cleaning
Security
Catering
Support
Environmental Management
Others

By End User

Commercial
Residential
Industrial

By Mode

In-House
Outsourced
Integrated
Bundled
Single

By Type

Hard
Soft
Others