The 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 of P&S Intelligence, a market research company based in India, the Gulf Cooperation Council facility management 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.
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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.
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.
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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.
Market Size Breakdown by Segments
- Heating, ventilation, and air conditioning (HVAC) maintenance
- Mechanical and electrical maintenance
- Environmental Management
By End User
- Saudi Arabia
- Rest of GCC (Bahrain and Oman)
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U.A.E. Facility Management Market – https://www.psmarketresearch.com/market-analysis/uae-facility-management-market
Saudi Arabia Facility Management Market – https://www.psmarketresearch.com/market-analysis/saudi-arabia-facility-management-market
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