NEW YORK, April 13, 2021 /PRNewswire/ -- The U.A.E. is one of the biggest tourist destinations in the world on account of its lavish lifestyle, sleek infrastructure, thrilling amusement parks, immersive Arabic culture, and intriguing ethnic history. As a result, the travel & tourism sector contributed 5.2% to the country's gross domestic product (GDP) in 2016, a share that the government wants to increase further. Therefore, the resulting construction of infrastructure in this sector will likely drive the U.A.E. mechanical, electrical, and plumbing services market from $3,025.9 million in 2020 to $12,946.9 million in 2030, at a 15.7% CAGR between 2021 and 2030, according to the market research report published by P&S Intelligence.
Much of the infrastructure development is being carried out under the Dubai Tourism Vision 2020 and Sharjah Tourism Vision 2021 programs and as part of the preparations for the Dubai Expo 2020 (rescheduled for 2021). In addition, the U.A.E. MEP services market is being driven by the infrastructure development in the country's transportation sector, considering the burgeoning number of tourists and immigrants. With infrastructure construction, the demand for the designing, installation, and maintenance of various MEP components and systems will keep rising.
Key Findings of U.A.E. MEP Services Market
Construction boom driving demand for MEP services in U.A.E.
Requirement for plumbing services to grow fastest in coming years
Demand for MEP services highest in commercial spaces
Smart and energy-efficient HVAC systems key market trends
District cooling systems offering lucrative opportunities to players
Market has fragmented nature due to existence of numerous companies
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The COVID-19 pandemic has negatively impacted the U.A.E. MEP services market on account of the lockdown measures, which have led to a complete halt in construction activities. Additionally, the manufacturing plant shutdowns around the world have reduced the supply of MEP components and systems. Moreover, as most of the hotels and other commercial facilities suspended operations, the demand for MEP services greatly decreased in the country, thus further hurting the revenue streams for service providers.
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The hospitality category will witness the fastest growth in the U.A.E. MEP services market in the coming years, under the end user segment. The U.A.E. is home to some of the most-iconic hotels in the world, including the only seven-star hotel, Burj Al Arab, and Atlantis the Palm. Many more luxurious hotels are under construction in the country, including WB Abu Dhabi, which is set to be inaugurated this year.
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The most-significant companies in the U.A.E. MEP services market are Al Shafar United Electromechanical Engineering L.L.C. (ASU), SPECON, BK Gulf LLC, AL SHIRAWI ELECTRICAL & MECHANICAL ENGINEERING COMPANY, ALEMCO, Horizon Gulf Electromechanical Services L.L.C., Al-Futtaim Engineering Company LLC, Elemec Electrical Contracting LLC, James L Williams Middle East (JLW), and GECO Mechanical & Electrical Ltd.
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